gillespie2e_case_ch12 (1).pdf - Gillespie Business Economics 2e Chapter 12 Additional case study Greek economy In 2010 the Greek government had to

gillespie2e_case_ch12 (1).pdf - Gillespie Business...

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Gillespie: Business Economics 2e Chapter 12 © Oxford University Press, 2013. All rights reserved. Additional case study: Greek economy In 2010 the Greek government had to inform the European Commission on how it would control its budget deficit and improve the performance of its economy. The government’s debt is so high that agencies assessing the creditworthiness of the government downgraded it (which would mean more interest has to be paid to raise finance). Proposals were likely to include a 10% cut in government spending.
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