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3 Possible Scenarios for the Greek Crisis


The Greek government is confronting a great number of difficulties, with many issues pending at the same time. One of these is that negotiations regarding the new loan have yet to reach an agreement.  Another is memorandum delays..once again.
Everything depends on help coming from “outside”, noted authorities, meaning that European leaders and outside bodies will determine Greece’s faith. Even if the best scenario is applied, austerity measures will be even harder for the Greek people and further hardships will arise.
The Government Economic Team advises that no further retreat should be followed, having as an excuse the delay. The processes regarding the next installment and the loan in September should be continued without any changes.
There are three most likely scenarios to deal with the new international crisis which will have an effect on the Greek economy.
First possible option:
The worst-case scenario of the crisis is the fear of all leaders who wanted to avoid the domino effect of the markets from the very first moment.
Second possible option:
A middle scenario provokes quick movements and quicker decisions, which could prevent the crisis in the following days.
Third possible option and less likely:
The best-case scenario proposes the immediate approval for help by the EFSF and full support of a euro-bond, which could improve the current economic situation and could lead to possible fiscal consolidation.
All scenarios are possible at the moment and each would have a different effect on the Greek economy.

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