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1、What will Greek elections mean for the countrys future?英贸（二班）英贸（二班）1Why is Greece in trouble? Greece was living beyond its means(平均值) before it joined the euro. After it adopted the single currency, public spending soared.Public sector wages, for example, rose 50% between 1999 and 2007-far faster th
2、an in other eurozone countries. And while money flowed out of the governments coffers, its income was hit by widespread tax evasion. So, after years of overspending, its budget deficit(赤字)- the difference between spending and income - spiralled out of control. When the global financial downturn hit,
3、 Greece was ill-prepared to cope. Debt levels reached the point where the country was no longer able to repay its loans, and was forced to ask for help from its European partners and the IMF in the form of massive loans. 2 In Greece,there are three largest parties: the Coalition of the Radical Left
4、(左派政党联盟) which is the anti-austerity party , New Democracy(新民主党) and Panhellenic Socialist Movement (PASOK)(泛希腊社会主义运动)which are the pro-austerity parties and have dominated Greek for 38 years. Political support has splintered, and smaller parties have gained in response to the financial crisis which
5、 has wracked the country for almost two years. At the 6 May election, Greeces political parties have failed to form a working coalition following voters rejection earlier this month of austerity measures(财政紧缩政策) insisted upon by the EU and the IMF, so the Greeks will return to the polls on the 17th.
6、 June. The First Election in Greece3 Greek political leaders (from left to right) Aleka Papariga, Evangelos Venizelos, Antonis Samaras, Greek President Karolos Papoulias, Alexis Tsipras, Panos Kammenos and Fotis Kouvelis meet at the presidential palace in Athens, May 16, 2012.4The Second Election in
7、 Greece If the anti-austerity(反财政紧缩) parties win, Greece will attempt to renegotiate the terms of its loans from EU and IMF. Unless German Chancellor Angela Merkel(默克尔) softens her stance on austerity, it will probably fail in doing so. Greece may also freeze loan repayments to its creditors(储蓄者), w
8、hich would undermine further confidence in the eurozone banking sector and in other highly-indebted countries ability to repay their debts.This may result in Greece being forced to leave the euro. the What will happen on next election?5 If the pro-austerity(赞成财政紧缩) parties or those willing to meet t
9、he terms of the bailouts(援助) in order to remain within the euro win the election, then austerity will continue and Greeces economy will continue to suffer. Greece may not be able to repay its debts, meaning it will need further help. If the rest of Europe is no longer willing to provide it, then Gre
10、ece may be also forced to leave the euro. There is of course the possibility that the Greek people fed up with rising unemployment and falling living standards, will make it impossible for the government to continue with austerity. In this case, again, Greece may be forced to leave the euro.6 What w
11、ill happen next if Greece leaves the euro zone? There is more and more speculation that Greece is about to leave the euro. The country has been unable to form a government, and new elections seem set to give power to parties that reject the spending cuts that have been agreed with other eurozone gov
12、ernments and the IMF. But without those spending cuts, the Greek government will receive no more bailout loans, it wont have the money to pay its debts, the Greek banks will probably go bust, and the European Central Bank may be forced to cut Greece loose from the single currency. These potential scenarios would be made immeasurably worse if Greece were to leave the euro. The country would almost certainly reintroduce the drachma, which would devalue and quickly, making it even harder for Greece to repay its debts.78
