Řecká dluhová krize

Abstract

The phenomenon of the Greek debt has its origins in the 80’ of the 20th century and has been caused by governments’ inadequate management of Greek public finances. Except the internal political stimulus there are some external influences which have in some way affected the debt size. The ongoing world crisis helped to discover the seriousness of the Greek debt in autumn 2009. The bail-out of 110 billion EUR followed in May 2010. It was agreed in order to provide Greece with enough money to pay its creditors, to prevent weakening of the euro currency, to limit spreading of the crisis to other eurozone countries, to push the Greek government to implement structural reforms and to help Greece to return back in the financial markets already in 2012.

A year after the bail-out plan, Greece has managed to implement several reform measures and reduce drastically its deficit but it was not enough to fulfill the agreed conditions. Greece is being criticized for the constant delays in reform implementing and that it has not taken enough measures to meet the plan. As Greek State has run out of money once again, several scenarios can be expected: The European Union, the eurozone countries and the International Monetary Fund may decide to increase the bail-out plan, a decision on debt restructuring may be expected, Greece might leave the eurozone and return to its national currency and finally there is a high risk of bankruptcy.