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• Decrease in GDP since 2010: 25% 2 • Vote against bailout terms in July 5 referendum: 61.3% 3 • Youth unemployment (2014): 52.4% 4 • Overall unemployment (2014): 26.5% 5 • IMF considers Greek debt dynamics to be unsustainable 6 • Capital controls: €420 weekly limit 7 • 8 years of recession 8 • 120,000 professionals have left Greece since 2010 9 • Almost 4 million people in Greece are at risk of being in poverty 10 • 1 in 5 Greeks face severe material deprivation 11 • 5 years of austerity Greek debt burden: €323 billion 1 Greek Debt Crisis: Sisyphus‘ Latest Challenge 1 “The Greek Debt Crisis Story in Numbers,” BBC, July 10, 2015, accessed July 20, 2015, http://www.bbc.com/news/world-europe-33407742. 2 Ibid. 3 Ibid. 4 Szu Ping Chan, “Why There’s Little Hope for Greece’s Unemployed,” The Telegraph, July 9, 2015, accessed July 20, 2015, http://www.telegraph.co.uk/finance/econom- ics/11554873/Why-theres-little-hope-for-Greeces-unemployed.html. 5 Ibid. 6 International Monetary Fund “Greece: Preliminary Draft Debt Sustainability Analysis,” IMF Country Report No. 15/165, June 26, 2015, accessed July 21, 2015, http://www.imf.org/external/pubs/ft/scr/2015/cr15165.pdf. 7 “Greek Debt Crisis: Banks Reopen Amid Tax Rise,” BBC, July 20, 2015, accessed July 21, 2015, http://www.bbc.com/news/world-europe-33590334. 8 “How Bad Are Things for the People of Greece?” BBC, July 16, 2015, accessed July 21, 2015, http://www.bbc.com/news/world-europe-33507802. 9 Ibid. 10 Ibid. 11 Ibid.

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Page 1: Greek Debt Crisis Sisyphus Latest Challenge

• Decrease in GDP since 2010: 25% 2

• Vote against bailout terms in July 5 referendum: 61.3% 3

• Youth unemployment (2014): 52.4% 4

• Overall unemployment (2014): 26.5% 5

• IMF considers Greek debt dynamics to be unsustainable 6

• Capital controls: €420 weekly limit 7

• 8 years of recession 8

• 120,000 professionals have left Greece since 2010 9

• Almost 4 million people in Greece are at risk of being in poverty 10

• 1 in 5 Greeks face severe material deprivation 11

• 5 years of austerity

Greek debt burden:

€323 billion1

Greek Debt Crisis: Sisyphus‘ Latest Challenge

1“The Greek Debt Crisis Story in Numbers,” BBC, July 10, 2015, accessed July 20, 2015, http://www.bbc.com/news/world-europe-33407742. 2 Ibid. 3 Ibid. 4 Szu Ping Chan, “Why There’s Little Hope for Greece’s Unemployed,” The Telegraph, July 9, 2015, accessed July 20, 2015, http://www.telegraph.co.uk/finance/econom-ics/11554873/Why-theres-little-hope-for-Greeces-unemployed.html. 5 Ibid. 6 International Monetary Fund “Greece: Preliminary Draft Debt Sustainability Analysis,” IMF Country Report No. 15/165, June 26, 2015, accessed July 21, 2015, http://www.imf.org/external/pubs/ft/scr/2015/cr15165.pdf. 7“Greek Debt Crisis:

Banks Reopen Amid Tax Rise,” BBC, July 20, 2015, accessed July 21, 2015, http://www.bbc.com/news/world-europe-33590334. 8“How Bad Are Things for the People of Greece?” BBC, July 16, 2015, accessed July 21, 2015, http://www.bbc.com/news/world-europe-33507802. 9 Ibid. 10 Ibid. 11 Ibid.

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