Greek Crisis
Greek Crisis
Greek Crisis
Group 2: Abhinav Singh Arpit Khasgiwala Charlotte Dupin Nathan Lemaire Sadia Khan
IMT GHAZIABAD
Hellenic Republic: stood at the tip of Balkan peninsula in the eastern Mediterranean Sea, a strategic but historically unstable crossroads dividing Europe from Mediterranean Sea 324 AD : Constantine moved his capital to a Greek city Constantinople (now Istanbul, Turkey) 1821: Greek diaspora initiated a war of independence, won in 1832 Defaulted four times, frequent depreciation of drachma 1909 -1940: 4 Kings, 10 coups, 38 governments, 20 Prime Ministers
1941: Hitler conquered Greece Early Post-war era: two political dynasties Conservative Greek parties: Constantine Karamanlis Progressive parties: George Papandreou 1950s : conservative Monetary and Fiscal Policy, currency committee regulated banks, allocated credit Banks required to hold 18% of their deposits in T-Bills 1963: Papandreou formed left-leaning government 1967: Military coup GDP fell to 6.4% after oil crisis Karamanlis returned from exile to lead transition government