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Understanding the Greek Financial Debt Crisis


Understanding the Greek Financial Debt Crisis
Understanding the Greek Financial Debt Crisis

Learn more about the Greek financial debt crisis.


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Course Description

Since the late 1990s public spending in Greece was on the rise but revenue generated by the Greek economy did not keep pace. This resulted in a growing government deficit that was not made known to the European Central Bank. When the global economic downturn started in 2007 it added further to the Greek debt crisis and today Greece finds itself having been bailed out by the European Union and the International Monetary Fund. This free online economics course looks at the key causes of how the economy of a modern European country can collapse. Different aspects of the Greek financial debt crisis are discussed, from rising debt-to-GDP ratios, to the fall in real growth resulting in recession. With falling investor confidence, Greece could no longer afford to borrow on the open market. They were bailed out by the EU and IMF with the proviso that the Greek government implement severe austerity measures. The Greek government and their EU partners are still negotiating about how to progress. You will learn about the options that are available including bailout and further austerity measures, debt default, or an exit from the Euro. The issues associated with each of these options are also discussed from both the Greek and EU perspectives. This free online economics course will be of great interest to finance and economics professionals who would like to learn more about the Greek financial crisis and to students interested in world or European economics and politics.

Certification

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Learning Outcomes

Learning outcomes: - Learn about key root causes of the Greek Debt Crisis; - Get an overview of the options open to the Greek Government such as Austerity, Debt default or Exit the Euro; - Learn about monitory independence; - Understand the concerns of the other Euro member states;


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Module Title
Module 1: Understanding the Greek Financial Debt Crisis
Module 2: Understanding the Greek Financial Debt Crisis Assessment

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Course Rating (By Learners): 5 stars based on 18 reviews
Course Title: Understanding the Greek Financial Debt Crisis
Course #: 533
Course Publisher: Khan Academy
Course Category: 2
Content Origin:
Course Description: Since the late 1990s public spending in Greece was on the rise but revenue generated by the Greek economy did not keep pace. This resulted in a growing government deficit that was not made known to the European Central Bank. When the global economic downturn started in 2007 it added further to the Greek debt crisis and today Greece finds itself having been bailed out by the European Union and the International Monetary Fund. This free online economics course looks at the key causes of how the economy of a modern European country can collapse. Different aspects of the Greek financial debt crisis are discussed, from rising debt-to-GDP ratios, to the fall in real growth resulting in recession. With falling investor confidence, Greece could no longer afford to borrow on the open market. They were bailed out by the EU and IMF with the proviso that the Greek government implement severe austerity measures. The Greek government and their EU partners are still negotiating about how to progress. You will learn about the options that are available including bailout and further austerity measures, debt default, or an exit from the Euro. The issues associated with each of these options are also discussed from both the Greek and EU perspectives. This free online economics course will be of great interest to finance and economics professionals who would like to learn more about the Greek financial crisis and to students interested in world or European economics and politics.
License: This course is available from Khan Academy OpenCourseWare through the following Creative Commons licence:
Creative Commons License
Release Date: 11 October 2012
Content  
Course Duration (Avg Learner): 1-2 Hours
Video/Audio: High
Audio Only: High
Animation: None
Assessments: Yes
Education Level
Age appropriateness: 18+ Years
Minimum Grade/Class Level: Post-Secondary
Validation: Level 5
ALISON Testing: Yes
Certification Availability
PDF Download: Yes
Parchment: Yes
Framed Certification: Yes

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  • aaa
    Debashis Rath India It was wonderfully explained and according to current scenario,leaving the Euro remains the only option with Greece for its survival. 2015-01-29 14:01:43
  • aaa
    rohan bhawsar India very good. learned some real life case. 2015-01-17 11:01:27
  • aaa
    German Rochez United States of America IT was well taught and i thoroughly enjoyed it. Great work 2014-10-29 01:10:45
  • aaa
    Kago Tshebo Botswana Informative to a person who did not understand much about the banking system and basic economics 2014-05-09 21:05:02
  • aaa
    Siti Shamsil Idris Malaysia Course Module: Module 2: Understanding the Greek Financial Debt Crisis Assessment
    Course Topic: Understanding the Greek Debt Crisis Assessment
    Comment: Can't open the assessment page. Why? 2012-12-19 13:12:43
  • aaa
    Robert Rassam Lebanon Course Module: Module 2: Understanding the Greek Financial Debt Crisis Assessment
    Course Topic: Understanding the Greek Debt Crisis Assessment
    Comment: If the cost of an item is Euro 150 a year ago, what will the cost today with inflation rate is 2.5% . the answer will be 150 x 1.025 = 153.75 and not 103.75 2012-10-13 11:10:15
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