Question

what could have been done different during the Greece Economy and the Euro?

Answer 1

In 2009, Greece’s budget deficit exceeded 15% .EU leaders struggled to agree on a solution. Greece wanted the EU to forgive some of the debt, but the EU didn’t want to let Greece off scot-free.

In 2009, Greece announced its budget deficit would be 12.9% of its GDP.Moody's, and Standard & Poor's lowered Greece's credit ratings. That scared off investors and raised the cost of future loans.In 2010, Greece announced a plan to lower its deficit to 3% of GDP in two years. Greece attempted to reassure the EU lenders it was fiscally responsible. Just four months later, Greece instead warned it might default

The loans only gave Greece enough money to pay interest on its existing debt and keep banks capitalized by IMF

In 2011, the European Financial Stability Facility added 190 billion euros to the bailout. Despite the name change, that money also came from EU countries.

By 2012, Bondholders finally agreed to a haircut, exchanging 77 billion euros in bonds for debt worth 75% less.

In 2014, Greece’s economy appeared to be recovering, as it grew 0.7%. The government successfully sold bonds and balanced the budget.