The Impact of the Eu

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The Impact of the EU on Greece’s Economy

INT 650
9-2 Short Paper Greece is one of the most affected country’s that entered into the European Union because the unification of the economies of the sovereign states in the region known as Europe is limiting their ability to emerge from their own financial crisis. In-order for Greece to devise a solution to their current national debt they must negotiate with the leaders of the European Union to create terms that will allow them the ability to correct their economy. However, the social unrest that this delay of negotiations is causing continues to inhibit Greece from moving forward in-order to restore stability to their country. Russia is interested in helping the country, but this would violate the terms set by the EU; plus the population of Greece is split between the ideas of removing itself from the European Union and entering into another agreement with other nations such as Russia. The Unification of Greece into the Union was not the creation of their financial issues, but is hindering the ability of the country to correct it in-order to help its citizens. The country is experiencing tremendous instability in their banking system due to the distrust of the people losing their money in the banks because the government fears that if they do not freeze the people’s accounts a rush to withdraw their cash will occur once the announcement after June, 2015 passes that a resolution for Greece’s debt was not agreed upon (Reguly, 2015). The financial crisis has not only hindered the ability of the government in Greece to manage the debt of the country properly enabling them to provide vital services to its people, but the Unification into the EU and its inability to negotiate terms that are reasonable for Greece to recover is hurting the Greek people more than anything. Unemployment among the…...

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