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Moral Hazard Within The Greek Economic Crisis: An Analysis Of European Union Law Effectiveness In Dealing With The Greek Economic Crisis, Juan Castro, Juan Castro
Moral Hazard Within The Greek Economic Crisis: An Analysis Of European Union Law Effectiveness In Dealing With The Greek Economic Crisis, Juan Castro, Juan Castro
Juan Castro
In this paper I will present the historical background of the current Greek economic crisis. I will delve into the causes of the fiscal and current-account deficits since Greece’s euro entry in 2001. In addition to the economic and financial information provided, I will also present cultural aspects and differences between Greece and its surrounding neighbors, primarily Germany, and how moral hazard has exacerbated the conflict. Further I will discuss the legality of the countermeasures and solutions presented and how these encroach upon European Union law treaties. Lastly I will conclude that in order for Greece and Germany to stabilize …