Unrestrained spending of successive Greek governments over a long period may have driven the country’s budget and current account deficits.2 Greece borrowed heavily from international capital markets to finance public sector jobs‚ pensions and other social benefits.3 As deficits and the country’s debt burden grew‚ the governments just kept on borrowing. 4 When Greece joined the eurozone in 2001‚ it gained monetary stability and was able to borrow at lower interest rates – thus‚ encouraging the country’s
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CASE STUDY: COUNTRY ANALYSIS (GREECE) The economy of Greece is the 34th or 45th largest in the world at $290 or $292 billion by nominal gross domestic product‚ which is stated by World Bank statistics for the year 2011. As of 2012‚ Greece is the thirteenth largest economy in the Europe. In terms of per capita income‚ Greece is ranked 29th or 33rd in the world at $27‚875 and $27‚624 for nominal GDP . The Greece economy mainly depends on the agricultural sector which take a lot of portion of the
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democracies. This essay will discuss how wars and territorial expansion led to a rise in populism‚ which brought political chaos‚ and how it is the fundamental cause of the decline of democracy in Ancient Greece and Rome. The first forms of democracy started in Ancient Greece and Ancient Rome. In Ancient Greece‚ democracy and politics were more related to the Athenian city-state – because Sparta was more of a military dictatorship – than any other city-state in the region. As for Rome‚ the brief period
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24‚ 2010 THE debt crisis that caused Greece to ask for an international bailout on Friday has been attributed to many things‚ all economic: Greece’s budget deficits‚ its lack of transparency and its over-the-top corruption‚ symbolized by the words “fakelaki‚” for envelopes containing bribes‚ and “rousfeti‚” political favors. But there is a deeper cause for the Greek crisis that no one dares mention because it implies an acceptance of fate: geography. Greece is where the historically underdeveloped
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after death in “House of Song”; chief religion of Persian Empire. (Ancient Greece) Olympic Games: one of the pan-helenic rituals observed by all Greek city-states; involved athletic competitions and ritual celebrations. Peloponnesian Wars: Wars from 431 to 404 BCE between Athens and Sparta for dominance in southern Greece; resulted in Spartan victory but failure to achieve political unification of Greece. Pericles: Athenian political leader during 5th century B.C.E; guided development
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Compare and Contrast Bronze Age Greece to Classical Greece The civilizations that lived during these two distinct periods in Greek history share many similarities in economic‚ social‚ and religious ideology. But culturally as well as politically they had very different structures and ideals. The Mycenaean’s flourished as a civilization during the Bronze Age‚ between 1600-1100B.C.E. During their control of Greece the landscape consisted of tree covered hills and valleys. The hills divided the
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Ancient Greece emerged in the 8th century and began to develop into a city. With a developing city arose a newly created society and with that‚ hierarchy. Ancient Greece had four different levels of wealth‚ upper class‚ metics‚ freedman‚ and slaves. Those four levels affected everyone’s lifestyle including what everyone was able to eat. Certain foods were reserved for the wealthy and certain foods were ate by the poor people. In modern day civilization food brings cultures together but in ancient
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Colonization and Maritime Navigation COLONISATION As Greece is comprised of many islands‚ the sea has always played an important role in its history. Colonization of surrounding areas began during the Geometric Period (900-700 BCE)‚ and continued throughout Archaic and Classical Greece. Starting around 700-600 BCE the more powerful Greek city states gradually began establishing colonies‚ first in the Mediterranean‚ and then all the way from western Asia Minor‚ to southern Italy‚ Sicily‚ North
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Greece The country of Greece is one of the oldest in the world‚ ranging back to 3‚000 B.C. when inhabitants settled in its lands; the ancient Greek language dates back even older by 500 years‚ in which the modern Greek language evolved from. Greece shaped the ancient and modern worlds as we know it‚ especially in the context of western civilization and thought‚ and with a direct impact on the governing concept of democracy. This paper will explore an outline of Greek history‚ its people‚ and
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Grecian city-states. This idea is represented through the examination of civilizations such as ancient Athens‚ Greece in which a polytheistic religion was seen to have dictated much the civilization’s citizens’ lives; religion affected the culture of ancient Athens in regards to art‚ ceremony and rituals‚ politics‚ civil rights‚ and daily practices. The classical period of Ancient Athens Greece encompasses the fifth and fourth centuries BC; this is the period between the Persian and Peloponnesian war
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