The Greek crisis: an American insight

Drapeau US Since the Greek crisis in 2010, some people consider the option of kicking out Greece from the Eurozone, and some even want Greece out of the EU. We conducted an online poll to se the opinion of the people over this question. In France, member of the EU, every respondant feels concerned about the Greek issue, but only one fourth of them wants Greec out of the EU/ Eurozione. Whereas one third of the American respondants is concerned by this issue, and another third wants Greece out of the Eurozone.

          Because of this, many questions are asked: Would it be possible to kick out a country of the EU like that? What will be the consequences?

          In fact, even if it might be possible to eject Greece from the EU or the Eurozone, it may not be a good idea: the Euro is strong because the countries that have this currency are helping each other. If Greece was ejected from the Eurozone, many investors will think that the members of the Eurozone are not strong enough nor united enough to support one another, so the euro may collapse. But it is true that the Greek and Italian crisis have shown that the Euro is not strong anyways, and it has already lost many investors.

            Another consequence of this act would be the loss of all the loans given to Greece (even if part of its debt has already been cancelled). And, moreover, if Greece left the Eurozone, its new currency would be printed too much by the government, so the situation would get even worse.

           The Greek issue also raises an important point: is it still necessary for the EU to expand, if it struggles to help its members?

by Alexandre B.