If Greece, with about $130 bn expenditure, $120 bn revenues, $3 bn
monthly exports & $4.5 bn monthly imports, chooses to introduce a local
currency.
With help in imports from friends, cheaper currency, booming tourism, no
hostile borders, & much more, & Troika left holding majority of its debt.
what if greece leaves Eurozone
Only a small fraction of the €240bn (£170bn) total bailout money Greece received in 2010 and 2012 found its way into the government’s coffers to soften the blow of the 2008 financial crash and fund reform programmes.
Most of the money went to the banks that lent Greece funds before the crash.
Unlike most of Europe, which ran up large budget deficits to protect pensioners and welfare recipients, Athens was then forced to dramatically reduce its deficit by squeezing pensions and cutting the minimum wage.
The troika of lenders first stepped in during the spring of 2010 after Athens could no longer afford to finance €310bn borrowed from a wide range of majorEuropean banks.
Live Greek debt crisis: Tsipras meets mutinous MPs as bailout vote looms - live
Greece’s prime minister faces rebellion after capitulating over the swingeing austerity measures forced on Athens by its eurozone partners
Read more
Two years later, the International Monetary Fund (IMF), European commission and European Central Bank (ECB) came up with a second bailout that centred on a €100bn debt write-off by private sector lenders.
monthly exports & $4.5 bn monthly imports, chooses to introduce a local
currency.
With help in imports from friends, cheaper currency, booming tourism, no
hostile borders, & much more, & Troika left holding majority of its debt.
what if greece leaves Eurozone
Only a small fraction of the €240bn (£170bn) total bailout money Greece received in 2010 and 2012 found its way into the government’s coffers to soften the blow of the 2008 financial crash and fund reform programmes.
Most of the money went to the banks that lent Greece funds before the crash.
Unlike most of Europe, which ran up large budget deficits to protect pensioners and welfare recipients, Athens was then forced to dramatically reduce its deficit by squeezing pensions and cutting the minimum wage.
The troika of lenders first stepped in during the spring of 2010 after Athens could no longer afford to finance €310bn borrowed from a wide range of majorEuropean banks.
Live Greek debt crisis: Tsipras meets mutinous MPs as bailout vote looms - live
Greece’s prime minister faces rebellion after capitulating over the swingeing austerity measures forced on Athens by its eurozone partners
Read more
Two years later, the International Monetary Fund (IMF), European commission and European Central Bank (ECB) came up with a second bailout that centred on a €100bn debt write-off by private sector lenders.
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