1、CRS InsightsEconomic Crisis in GreeceRebecca M. Nelson, Specialist in International Trade and Finance (rnelsoncrs.loc.gov, 7-6819)June 29, 2015 (IN10295)BackgroundQuestions about whether Greece will stay in the Eurozone have resurfaced, as the governments stalemate with the International Monetary Fu
2、nd (IMF) and Eurozone creditors has reached a critical point. Greeces economic crisis was triggered in 2009, when it was revealed that successive Greek governments had been misreporting data on its budget deficit. Questions about the sustainability of Greek public finances eroded investor confidence
3、 and shut the country out of financial markets, when it was still struggling to recover from the global financial crisis. The crisis in Greece spilled over to other Eurozone countries, including Ireland, Portugal, and Cyprus.Concerned about the systemic risks Greece could pose to the rest of the Eur
4、ozone and the broader international economy, other Eurozone governments and the IMF extended two financial assistance packages to the Greek government (in 2010 and 2012) totaling 240 billion (about $270 billion). In 2012, Greece also restructured its debt, with investors taking substantial losses (7
