By 2012 there were worrying signs arising from the Greek economy. Over the following years the Eurozone, the IMF, and various Greek Governments forming various views and taking different actions with the aim of addressing these worrying signs. You will draw on the knowledge gained from this unit to answer questions related to the Greek experience. You will read the article (Case Study: Mismanagement of Fiscal Policy: Greece’s Achilles’ Heel) and write a report of no more than 3,000 words that answers the following questions. 1. What would have been the economic implications for Europe if Greece were ejected from the Eurozone in 2016? 2. How did the economic policies used by the European community address Greece macroeconomic issues? 3. Identify how the policy decisions made by Greece since 1973 contributed to the sovereign debt crisis in 2010. 4. What actions by the Greece government and national banks were used to implement fiscal and monetary policies used by the Greeks to respond to global business cycle fluctuations? 5. How did Greek economic policy compare with Australian economic policy for the same time period? What local (Australian) factors contributed to this difference in Australian economic policy?
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