Devoir de Philosophie

la crise économique en Grèce

Publié le 05/11/2012

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I hope you all know today we're facing an international financial and economic crisis. The actual crisis started with a financial one which turned after into an economic crisis. The financial difficulty started when some US banks had engaged in subprime lending. (a subprime lending = they borrow money to people who had real difficulties to pay back) So these banks became very depreciated at the stock exchange (à la Bourse). Moreover, they Had considerable difficulties to finance household and companies. This led to the economic Crisis. So, the economic crisis includes lower productions, unemployment, closing down companies And so on and so forth. It's important to keep in our minds that the economic crisis affects the financial system of every State. For example, incomes like taxes fall down whereas we notice the public expenditure growth. (public expenditure = dépense publique) Some countries , such as Portugal, Spain, Ireland and Greece, we're already dealing with financial problems before the crisis and now they are in a critical situation. Now, will concentrate on Greek's crisis. Look at the 1st text "Europe Commits to Action on Greek Debt" As you should all know, Greece is one of the 16 countries using the euro as national currency. In order to protect the Euro, the European leaders offered their help to Greece. Still, these countries gave no concrete explanation about how they would manage to help Greece, nor How they would act if investors...

« European Central Bank and the International Monetary Fund engaged themselves to   supervise Greek finances. Still, Germany was reluctant to this solution because of Greece’s weak economy, because   this solution of borrowing money is unpopular among Germans and finally because it   might not respect the German Constitution, Angela Merkel argued. However, the European leaders ended up the meeting with a global agreement : “Greece   will be bailed out if it became absolutely necessarily.” Surprisingly, the Prime Minister George Papandreou of Greece, even if he noticed the   European support, he declared: “We haven’t asked for any help.” Question for a debate : 1.

Why do the European countries offer aid to Greece even if the latter didn’t ask for   help yet? 2.

Do you think European currency is an advantage or a disadvantage? ( a stability on   commercial exchange, no more fees = frais de change)  3.

What do you think about Germany’s position? 3 rd  text, Why Greece’s problems matter? No pay rises, higher taxes, raised petrol prices and 2 more years of work before retiring –   such Is the situation of Greek crisis. And such will be the situation in other countries because   Greece problems would affect the whole Eurozone. The European countries are searching means to offer financial help to Greek. The only   possible way is to raise tax bills in their own countries, because they don’t have extra­ money. Giving that the International Monetary Fund wants to help Greece, this means that even   the non­eurozone countries, members of the International Monetary Fund, will contribute   indirectly to Greek support.. »

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