Greece

Greece

Courtesy of: CNN.com

The biggest news hitting the stands about Greece is, of course, the massive debt they are in. Greece recently went into massive debt, that was alleviated by bailouts to pay to the European Central Bank, its first one equaling 13 billion euros, or $14.5 billion in American currency. Greece is now on a three-year bailout program, which is worth 86 billion euros (or $96 billion dollars). One of the biggest reasons Greece got into the mess it did was because of cooked numbers in Greece’s financials. The government did not even realize the numbers were wrong until two years later, and by that time, the deficit had more than tripled (to be included in the Eurozone, the country’s deficit had to be below 3%. Greece’s was at 8.3%). Then, when America went into its own debt back in 2007, Greece was affected as well. The reason many believe Greece did not bring up its financial struggles was because of the Olympics in 2004 that took place in its homeland. Unemployment rose, Greece started to borrow money to help pay for debts and it all eventually led to the economic crisis. 

            This bailout was a complete opposite of the policy that Greek Prime Minister Alex Tsiparas, which caused the Syriza party to split. The fallout from this became in the Prime Minister Tsiparas calling for a new electiton. His hope is that, if he steps down, the people will decide to re-elect him and he can cement his official position with the European bailout deal. Many Syrizan people are angry about the deal because they believe the bailout will only continue the strict program that got the Greek economy into trouble in the first place. Instead of solving the problem within the nation, Syrizans say they believe asking for help will only enable the Greek economy to stay on its original course of self-destruction. At this point, Tsiparas is leading the current election. 

            

            The next biggest headline Greece has been starring in is the immigration crisis. It’s affecting not only Greece, its affecting every country in Europe right now. An estimated 366,000 migrants have fled from war-torn countries like Syria and Turkey seeking asylum in Europe. However, there are so many piling out in droves, most countries the Syrians are fleeing to are starting to close up their borders, saying they’ve filled a “quota.” Greece, however, has neither the power or resources to help out much when it comes to the migrants. Because of their failing economy, the addition of even more people to an already poor country only adds to the debt. The government has not been able to provide even the most basic needs for the migrants, such as food or shelter. And its people are not happy about it either. There are reports of those opposed to the migrants, calling it “an invasion.” 

Courtesy of: The Guardian

            On the island of Kos, there are an estimated 1,000 migrants camped out on its shores, with more pouring in everyday. On the island of Lesobs, there are about 1,500 refugees. The strain on the major influx of refugees has resulted in fighting among those camped out, and even those native to the island. With the economy being what it is, international help groups have arrived to help out the ever-growing Greece population. Agencies like Médecins Sans Frontières and the Boat Refugee Foundation.