Economic Crisis in Greece

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Economic Crisis in Greece Greece has been faced with a tragic economic crisis over the past recent years. The European Union Member has caused a lot of problems for the Union itself, as the country’s inflation rate reaches its highest in history. The European country has fallen into a dramatic crisis which is also leading to a high percentage of people committing suicide due to shortage of jobs and finance for basic necessities. International attention has often been at Greece for various reasons other than achievements. The fall of the Army Rule that ruled over Greece for 7 years and the re-establishment of democracy gave Greece a lot of fame in the year 1974. The year of 1981 brought a new political era for Greece which saw them move into the group of European Communities. Then coming down the line of fame was the 2004 Olympic Games that could be categorized as a positive achievement. In comparison thou, unfortunately Greece attracted the most of its attention at the end of the year 2008, when, the Athens riots marked the beginning of the economic crisis in the country, and the frustration and anger of the Greek youth was seen through the media (Lyrintzis 2011). The last few years have given Greece more attention due to the economic failure, corruption, and bankruptcy that the nation is faced with rather than receiving accolades for its biblical history. Analyses of the multiple causes of this crisis are discussed below. On the 1st of Jan, 1981, Greece was accepted as the tenth member of the European Communities, making the membership of EC enter into double figures. The reason that Greece had a delayed entry in the European Community was because it was previously being ruled by a Military Rule, and as soon as the Army Rule was overthrown and Democracy had been restored in the country, it was allowed to join the Future European Union (The changing face of Europe
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