Greece’s financial problems

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Greece’s financial problems have been in the news for the past few years. Recently, there has been discussion that Greece might need to leave the European Union (EU). However, Greece struck a deal this morning with EU leaders. According to the report in “Greece reaches deal with eurozone leaders, avoiding financial collapse and euro exit,”

http://www.usnews.com/news/business/articles/2015/07/13/greece-talks-drag-beyond-deadline-amid-warnings-of-euro-exit

Greece will receive nearly $100 billion in loans from the EU so that its banks can reopen. In return, Greece must make some changes that its government does not want to make, such as relaxing barriers against external competition, making labor laws more flexible, and increasing sales taxes.

As an initial contribution to the discussion board, I would like each of you to explain why this is or is not a good deal for Greece. Also, is it a good deal for the EU? You may use information from other sources as long as you cite them, but make sure that your contribution is in your own words.

 

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