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Explain the Greece and the European crisis and its cause and effects

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Explain the Greek and the European crisis and its cause and effects.

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Solution Summary

This solution explains the cause and effects of the financial crisis currently experienced by Greece.

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Firstly, the bad: Greece does have a lot of corruption. The problem is at every level of the country, from tax-evading citizens to government excesses. Greek workers are notoriously unproductive. However, many of the observers who place blame squarely on Greece for their current situation have not studied the facts adequately. Greek workers work longer hours than Germans on average, and they have a social welfare system that is smaller than ...

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