Recently, the countries of the eurozone have been going through hard times - some of them, such as Greece, Portugal, Spain and Italy, are going through a financial crisis and are forced to turn to the rest of the union for help. The first crisis affected Greece, whose problems began in 2010. The crisis in the country is so deep that, according to many economic analysts, Greece may leave the Eurozone as early as 2013.
The reason that this country is in a debt trap and can only get out of it through tough reforms, unpopular with the population, is the heterogeneity of the euro area. It initially included countries whose economic potential and structure were completely different. Partners, whose economic development was obviously weaker, began to enjoy the same social privileges as those on which the economic power of the European Union rested - Germany, France.
Greece, having entered this union, allowed itself to live on a grand scale, getting into debt. According to the obligations, money was no longer invested in its agriculture, which was previously the basis of the economy - according to the obligations, Greece was supposed to develop mainly through tourism. The Greeks did not make much progress in this direction, but continued to enjoy the trust of creditors until a certain time. The 2010 crisis exposed the existing contradictions between exorbitant social spending and the country's real economic contribution.
Today, a new government is working in Greece, which has begun to implement unpopular economic reforms. A strict economy has been introduced in the country: the average salary has decreased from 1000 euros to 600, budget spending on social needs, pensions, benefits, education, and cultural development is significantly limited.
As a result of these measures, mass disturbances and strikes began in the country, right up to clashes with the police. This, in turn, did not add to the popularity and interest in Greece from tourists, but added financial problems even more.
Before the threat of default, the Greeks should understand that the thoughtless waste of money leads to the most devastating consequences for the country's economy. Allowing yourself to live luxuriously on debt, abandon your own production of goods and keep two unemployed for one worker - such a life has already remained in the past and cannot be returned by any strikes.
Experts from the largest international banks are already forecasting with 90% probability that Greece will leave the single European currency zone already in 2013. And while this measure is likely to undermine confidence in the euro and may even signal a disconnect, this measure seems economically feasible. The promised reforms in Greece are being carried out at a slow pace, and the decrease in the level of debt obligations is mainly due to the cancellation of these debts.
