Economic Challenges in the Twenty‑First Century 351CritiCal thinking
Questions- What leverage does Greece have to thwart
the demands of the international lenders? - If you were a Greek citizen, what recom-
mendations would you make to your
government? - Should Greece stay in the EU and the
Eurozone? Why or why not?
IMF continue negotiations over how best to
get Greece on the road to economic recovery
while preserving the Eurozone and the EU
more generally. At each step, to receive
another round of bailout funds, Greece is
forced to take increasingly stringent mea sures.
These mea sures must be taken before there
is actual debt relief from the 240 billion euros
Greek citizens in Athens attend a “No” rally against accepting bailout conditions. While the population voted
in 2015 to stand up to the demands of the EU and the IMF, the government continued negotiations.owed. The banks themselves remain a major
concern, as 40 percent of the loans they have
issued are in arrears. The country cannot
rebound if the banks are failing. Greek econo-
mists fear that their country may not be able to
recover. At stake is Greece’s membership in
the EU and its Eu ro pean identity.