Making report on Greece Financial Crisis

Last session of the IPE course, four groups of students made their report on Greece's debt crisis. What are the causes of the crisis, to what extend the crisis impacted on the international sphere. I was surprised by the students when first group deeply surveyed into the root of the crisis and made wonderful critics on the solutions. This was more than my expectation.  The second group explained more on the theoretical analysis on the Greece's case of crisis.  The third group focused on the measurement of the Greece's government to mitigate the crisis and the China's role as the hegemon to help Greece by buying bonds and assets.

Very appreciated when the fourth group linked other disciplines to analyse Greece's crisis. Moreover, this group initially suggest how to solve the crisis, for instance, establishing the financial mechanism which should be more flexible and easy to access to facilitate the market functions and to enhance the economic growth and boost the currency flow in domestic economy.

"Greece should accept being debt and cool down to solve the crisis, let's the market do it function naturally."

"To spend less, and reduce government's expenditure on unnecessary programs. Increasing taxes may need to proposed to different industries, however this may not bring stimulation to market at all." 

 

"There is no way out for Greece since Greece was not able to borrow international financial insitutes due to large debts. As the government tried to solve the problem by increasing taxes, the labor union protested.  Moreover, the unemployed was unsolved-but tended to increase."  To stimulate export market was not possible due to the money rely on EURO value, this strong value made Greece's export goods and service were higher price." 

"Postmodern was right, the world is unstable, progress is illusory." 

"China's role on Greece's crisis is changing the World arrangement.  China is moving into the core, the Greece  is moving away from the core to periphery."