Who is to be blamed for beginning of Greece Crisis ? Greece people believe that this crisis is d creation of other European countries as trying to Euro left little maneuverability with Greece to adjust its monetary policies. However, creditors felt that it was the creation of the Greece as this nation has raised debts which were not sustainable and had faked its deficit financing levels which is true somewhat. they faked their budget deficit from 12.8% to 3.4%. There was massive tax evasion by citizens and businessmen of Greece leading to higher deficit. Government failed to stop tax evasion and at the time of crisis, People of Greece failed to adopt Austerity measures leading to this Financial mess.
is dere someone...who cares for our education system.....downfall!!!!!!
ReplyDeleteWho is to be blamed for beginning of Greece Crisis ?
ReplyDeleteGreece people believe that this crisis is d creation of other European countries as trying to Euro left little maneuverability with Greece to adjust its monetary policies. However, creditors felt that it was the creation of the Greece as this nation has raised debts which were not sustainable and had faked its deficit financing levels which is true somewhat. they faked their budget deficit from 12.8% to 3.4%. There was massive tax evasion by citizens and businessmen of Greece leading to higher deficit. Government failed to stop tax evasion and at the time of crisis, People of Greece failed to adopt Austerity measures leading to this Financial mess.