Blog 10: Will Greece Abandon the Euro? Markets say yes, within 3 years.

Will Greece Abandon the Euro? Markets say yes, within 3 years.

    Greece is in trouble economically, and it's causing speculation about how long the Euro will actually last in the country. The risk is that they leave the Eurozone, but many are skeptical and propose logistical problems, if Greece were to choose to leave. The Eurozone has placed many very strict demands on Greece, in order to improve the situation, and help Greece stay within the Eurozone. The problem with these requirements being implemented is that it is happening in tandem with Greece's failing economy. Many Greek people are struggling, and this number is not decreasing as of yet.

    Greece is positioned to make numerous changes to their government during the spring season. The current leading party will likely see a huge decrease in authority during the next election, which will lead to a new powerful group within the government. This set of elected officials are part of a party likely in support of leaving the Eurozone. If Greece does not make the decision to detach, they also are at risk, and might be kicked out regardless. While this is what many predict for Greece's future, there are no guarantees, and only time will be able to tell if Greece can or will remain part of the European Union.

    I have written about the European economy a number of times throughout my blog entries, and it is easy to see how the struggles of one area effect another. Spain is also part of the EU, and is also struggling with unemployment. Many speculate that Spain will eventually see some sort of downfall, much like Greece is suffering from at this time.

    The EU is suffering from what many believe to be an inevitable major downturn. The slowing, weakening economy has effected imports and exports, thus causing changes in the global economy, and profits for countries handling production of goods they would typically sell to Europe. A failing economy in Greece is linked to a failing economic system throughout the entire EU. The problems in the EU inevitably effect the global economy, which of course, includes everyone who is part of the global trade system etc.


http://news.yahoo.com/blogs/signal/greece-abandon-euro-markets-yes-within-three-years-181559254.html