Greece Turmoil(2)

8/3/2019 Greece Turmoil(2)

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Presented byMohammad Ali Saiyyed

Rishibha Jain

Mini Nigam



` Mini- Miss Greece

` Rishibha- Miss Amer ica

` Mohammad- Mr. IMF



` Greece¶s budget def icit is more than 12% as opposed

to less than 3%, as required f or membership in the EU

` Debt of Greece is near ly 330 billion dollars

` Close to 120% of its GDP

` The 2 biggest rating agencies downgraded Greece.





` Lack of effective monitor ing of government def icits

` Enter ing in to Eur opean union

` Recession in case of Spain` Lack of enf orcement of the rules by Eur opean

union



` To strengthened the system

` Take loan

` Temporar ily go out fr om EU.

` Do cost cutting



` The pr otests began when government announce

f or cost cutting



` IMF came into existence on December 27, 1945 when29 countr ies signed the agreement

` IMF working for

` Global monetary cooperation

` Secure f inancial stability

` Sustainable economic gr owth

` Reduce poverty ar ound the wor ld.

`

In Greece` Total EU/IMF contr ibution is now ¼65bn

` This Monday there is a news that IMF give further package to Italy and it ref lects in all share markets



` Eur o is the second largest currency in f orex

reser ve.

` China exports 19.4% to Eur ope of its total

export.` Positive impact on Germany

` Negative impact on Spain and Portugal



` Market

` Long term impact

` Short term impact

` Trade` India export only 0.05% to Greece

` Three of the top ten exporter comes fr om Eur o

zone f or India` Currency

` Single currency f or many countr ies



` The gr oup of twenty (G-20) f inance ministers and

central bank governors was established in 1999 to

br ing together systematically important

industr ialised and developing economies to discuss key issues in the global economy. The

inaugural meeting of the G-20 took place in Ber lin,

on December 15-16, 1999, hosted by German and

Canadian f inance ministers.



` G20 aims to f oster the adoption of internationally

recognised standards thr ough the example set by its

members in areas of such as the transparency of

f iscal policy and combating money launder ing and the

f inancial terr or ism. It aimed to develop a common view

among members on issues related to further

development of the global economic and f inancial

system. To tackle the f inancial and economic cr isis

that spread acr oss the globe, strengthen international cooperation.



` The Gr oup of 20 leaders have agreed to increase

the f inancial power of the International Monetary

Fund (IMF)

` French President Nicolas Sarkozy conf irmed thatmost talks had revolved ar ound the eur o zone

cr isis.

` Italy is to commit to further cuts to its debts.



`THANK YOU

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Greece Turmoil(2)