Financial Markets Asssment厦门公交车起火47人死亡是什么时候
The description of Greece’s current situation is as follows. Since the Greek debt crisis happened last year, total debts of this country are clo to 3400 hundred millions at the prent time. The reforms of finance and organization structure move slowly so that other countries begin to suspect the ability to pay debt and the possibility of sustainable development. Maybe the situation will further increa financing cost and the Greek debt will continue to mount up. The debt level has the potential to approach a staggering 1.43 times (143%) of GDP. If Greek economy gets into a rapid shrink as investors expected, the ratio of debt level to GDP will reach 160%.From margin of credit default swap, we find that the margin of five years has approached 57%.In general, margin of credit default swap reflects clearly probability of default in the Member Countries of European Union.
Firstly, various factors lead to Greek debt crisis. The basic reason is that some problems had not been solved before Greece entered the EU. According to relevant rules, the Member Countries of European Union must meet two requirements. The first requirement is
that budget deficit must not exceed 3% of GDP. The cond requirement is that the leverage must be kept below 60% of GDP. However, Greece notices the great gap when entering the EU. From this point, it is not good news for Greece. And then Greece asked for help from American Investment Bank-GOLDMANSACHS. Of cour, this bank provides a scheme for Greece. This scheme makes Greek public debt of 1000 millions euro avoid being come out. Through the unusual efforts, Greece is up to the standard of entering the EU in account. So the ratio of debt level to GDP goes down from 5.7 % to 1.5%.
题型Secondly, Greek economic growth mode and structure are not unreasonable, and it weakens the fundament英语信件格式cousin是什么意思 of fiscal income. In the past 10 years, economic growth is a little rapider, and annual growth rate is about 4%. The rate exceeds greatly the average of 2% in Euro Area. With the rapid development of Greek economy, Greek government is confident about the source of fiscal income, and then Greek government keeps on a high level fiscal expenditure. Facing the great stroke of economic crisis, Greece ems fragile in a way. 伏特加英文
Thirdly, Private Sector and Public Sector in Greece borrow foreign debts, and it makes Greek government suffer easily impact of external capital. As Greece enters Euro Zone, it can’t u the devaluation of the currency to control market competition, so Greek economic competition is dampened by higher exchange Rate of Euro. The factors make Greek economy lo previous competition.
statement是什么意思Furthermore, there exist rous problems in the Greek finance. Beside Greek government is weak in fiscal management, and the policy of governmental finance is not reasonable. Since Greece entered the Euro Area in 2001, Greek budget deficit exceed 3% almost every year. The ratio of public debt to GDP increas from 103 % in 2000 to 115% in 2009. In terms of fiscal income, Greece lack reasonable planning. What’s wor, there exist rious tax evasion in this country.
Besides the proximate cau is that Greek credit rating is lowered by rating agency. On December 8, 2009, FitchRatingsfurther, one of the most authoritative rating agencies in the world, declare that Greek sovereign rating is lowered from iouA- to BBB+, and the prospect i
s negative. It is the first time to be lowered for Greece by rating agency over past 10 years. At the same time, Standard&Poor also declares that Greek sovereign rating is lowered from A- to BBB+. The rating agency warns that if Greek government can’t improve fiscal condition in short term, Greek sovereign rating will be further lowered.
There are some similarities between the debt crisis evidenced in Greece and the US subprime crisis. Both of them have great effect on domestic economy, global economy including china. In the following, I will explain it from three aspects in details.
The influence on American economy:
insist的用法The crisis of subprime-mortgage market in America gets wor, and it makes American stock market appear to fluctuate intenly. As for it, some investors worry that the crisis of subprime-mortgage market may spread in the whole financial market. Furthermore it will have great effect on consumer credit and enterpri financing. What’s wor, it may remain a rious hindrance to American economy. In the process of debts realignment, the growth of Greek GDP at an average annual rate lowers 1.2% than other countries whi
ch don’t suffer the sovereign debt default. From the perspective of politics, Greek sovereign debt crisis has threatened riously position of the party in power and social stability.
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