Greece Emerges from Three-Year Austerity Program
Greece has completed its third and final bailout today. It marked the end of Greece’s three-year Eurozone emergency loan program worth €61.9 billion. Greece’s economic turmoil resulted from the global recession of 2008. The International Monetary Fund and the European Union offered Greece a three-part austerity loan plan to help it cope with its debt. This decade-long financial crisis had a significant impact on the people of Greece, leading to increased unemployment, spending cuts, and high taxes. As the negative impact continues, the government is gradually beginning to invest in communities and public services. Endy Zemenides, executive director of the Hellenic American Leadership Council joins us to discuss what’s next for Greece, and also why he feels the austerity measures contributed to the recent deadly forest fires in Greece.