|
|
Post by mrcoke on Sept 12, 2021 22:54:25 GMT
The E.U. and International Monetary Fund granted $146 billion in loans to Greece over the course of three years in 2010. Greece defaulted in the amount of €1.6 billion to the IMF in 2015. The financial crisis was largely the result of structural problems that ignored the loss of tax revenues due to systematic tax evasion. Greece's productivity was much less productive than other EU nations making Greek goods and services less competitive and plunging the nation into insurmountable debt during the 2007 global financial crisis.
Greece has Europe's most fragmented business landscape; 99.9 percent of its companies are SMEs and 97.3 percent are micro-enterprises, with fewer than 10 employees. According to the Athens Chamber of Commerce and Industry, out of 840,000 companies, only 15,000-25,000 have access to bank financing.
In June it was announced that The European Union’s Recovery and Resilience fund will give Greece 7.5 billion euros ($9.1 billion) in 2021, which is almost double the amount Greece initially expected to receive. According to its plan, Greece wants to use 31 billion euros it’s scheduled to get over the course of the program to boost economic recovery. The country lost some 25% of gross domestic product during its decade-long debt crisis and suffered a further 8.2% contraction last year due to the pandemic.
On Sunday 12th September France confirmed that Greece had agreed to buy six more of its Rafale jets, bringing to 24 the number of French fighters sold to Athens for billions of euros.
In January, Athens placed an order for 18 of the planes, 12 of them second-hand, in a 2.5-billion-euro deal aimed at boosting Greece's defences faced with growing tensions with neighbouring Turkey. On Saturday, the Greek Prime Minister revealed plans to acquire an additional six Rafales.
|
|
|
|
Post by NassauDave on Sept 13, 2021 2:40:12 GMT
But the stuffed peppers are to die for.
|
|
|
|
Post by NassauDave on Sept 13, 2021 9:47:20 GMT
The E.U. and International Monetary Fund granted $146 billion in loans to Greece over the course of three years in 2010. Greece defaulted in the amount of €1.6 billion to the IMF in 2015. The financial crisis was largely the result of structural problems that ignored the loss of tax revenues due to systematic tax evasion. Greece's productivity was much less productive than other EU nations making Greek goods and services less competitive and plunging the nation into insurmountable debt during the 2007 global financial crisis. Greece has Europe's most fragmented business landscape; 99.9 percent of its companies are SMEs and 97.3 percent are micro-enterprises, with fewer than 10 employees. According to the Athens Chamber of Commerce and Industry, out of 840,000 companies, only 15,000-25,000 have access to bank financing. In June it was announced that The European Union’s Recovery and Resilience fund will give Greece 7.5 billion euros ($9.1 billion) in 2021, which is almost double the amount Greece initially expected to receive. According to its plan, Greece wants to use 31 billion euros it’s scheduled to get over the course of the program to boost economic recovery. The country lost some 25% of gross domestic product during its decade-long debt crisis and suffered a further 8.2% contraction last year due to the pandemic. On Sunday 12th September France confirmed that Greece had agreed to buy six more of its Rafale jets, bringing to 24 the number of French fighters sold to Athens for billions of euros. In January, Athens placed an order for 18 of the planes, 12 of them second-hand, in a 2.5-billion-euro deal aimed at boosting Greece's defences faced with growing tensions with neighbouring Turkey. On Saturday, the Greek Prime Minister revealed plans to acquire an additional six Rafales. A tragedy. |
|
|
|
Post by musik on Sept 13, 2021 13:32:36 GMT
From what I've heard, their financial crisis is mainly a result of the people's unaltered demand and buying of stuff they really couldn't afford even during the downs. They kept their consumption up. Loans loans, loans, no savings.
|
|
