A presentation of the economical crisis in Greece

I- Financial difficulties of Greece

Athens is concerned with the crisis. In 2009, the state of Greece announced a GDP deficit of about 6% whereas it was about 12,7% in reality.

On 2010, the GDP ( gross domestic product ) dropped of about 14%

After many meetings to solve the crisis in Bruxels between State members, the EU gave 45billion Euros to help the country.

Money lent to Greece in 2011

II- The utility of the EU and the IMF.

The IMF (International Monetary Fund) lent money for a long time in exchange for economical reforms. Europe wanted to create a special IMF for Greece in 2011.

http://www.imf.org/external/index.htm

http://europa.eu/index_en.htm

The country didn't manage to pay his debts to the EU reach 113% of its GDP in 2011. Germany and other countries of the EU wanted to reject Greece out of the European area because they thought that their financial problems were the fault of Greece.

Since the meeting, the EU members agreed to help the country. Germany changed their decision after the meeting with Nicolas Sarkozy. So Greece was not excluded from the EU area.

III- Reaction of the Greek population.

The outraged, the young , the retired and the unemployed demonstrated.

In 2011 , the Greek met economical difficulties and wanted a political revolution. Other people wanted to stay with the same political and economical system.There were many outraged demonstrate against banks, the drop of incomes and decisions of the governement