Greece - From Boom to Bust

2). Their national debt has now reached to roughly €300 billion or $413.6 billion and is bigger than the country's economy ("Greece's Financial" para. 3). It seems now that there is no perfect solution for this economic crisis now that Greece is most likely not going to be able to get out of their debt on their own. What has been the biggest problem seems to be that the country has split up into two sections. The people in the government who make promises to the public, and the public who would benefit from those promises. These promises tend to be a little more then what they can produce causing the public to wonder then why they are still in office. .
             Thankfully, "leaders of the [country's] two communities have agreed to re-open negotiations, and the signs are that they are determined, at last, to reach a settlement." ("The Thorn" para. 3) This is just the first and smallest step that this country now has to take. It is going to be a long time with many sacrifices and tough decisions made by not only Greece's government and the people but the world as well. Other main causes for this crisis was that there was no good reason for Greece to share the share a single monetary policy with countries such as Germany and France ("Greece on Fire" para. 3). They are much stronger economically, and the other countries cannot keep pace with them ("Greece on Fire" para. 3). .
             Also when Greece was on the drachma, which was their old currency, they were more appealing to other countries when trading. That is because the drachma usually was less then the euro and made getting exports from Greece instead of other counties that are in the European Union more desirable. Therefore Greece would completely benefit from a different currency and economic approach ("Greece on Fire" para. 3). Greece switching over to the euro was a poor decision that greatly affected their exports.