At the height of a financial crisis, experts are worried that the current storm in Greece might spread to other regions. The crisis started in 2009 and is believed to have been triggered by the combination of structural weaknesses in Greece’s economy, overly high structural deficits and debt to GDP levels of public accounts. Greece is an EU member and with its current sovereign debt crisis, political turmoil, and a weak economy, investors are reluctant to lend the country any more money. Those that do lend demand high premiums, resulting in a troublesome predicament. Greece’s current national debt is approximately 300 billion euros ($400 billion). The excessive amounts of national debt are threatening the country with a possible bankruptcy.
Greece is still in crisis despite bailouts
Greece has received billions in bailouts, money that was supposed to stabilize its finances and quell market fears but while this money helped, things are not getting any better. The economic turmoil in Greece has resulted in dropping off the value of the Euro. The EU has implemented measures to bail out Greece and other affected countries, but these measures have come at the price of asceticism measures for the affected economies. As a result, Greece is experiencing massive budget cuts, structural changes in the public service sectors and an exponential increase in taxes and pensions.
Greece on Tuesday failed to make their scheduled IMF debt repayment of about 1.5 billion euros ( $1.7 billion) which might lead to a situation in which other debts might be categorized as being in default. Greece’s economy has declined by a quarter, and unemployment is above 25%. Bailout money goes towards paying off and has recently affected other countries like Ireland, Spain and Portugal.
We can make a difference in the lives of the people in Greece. You can save Greece from economic social and political collapse in spite of its chronic clientelism, failure of the political classes and the recklessness of its government.
Here are some of the reasons why we need to help Greece:
1 . The crisis in Greece will affect other countries irrespective of the outcome.
2. Greece’s debt relief will benefit other affected countries such as Spain and Ireland.
3. It is not just about bailing out Greece but helping the Greeks.
4. Grexit might mean a deep recession with increased level of unemployment and soaring poverty levels to the Greek people.
5. The current crisis affects the global economy. Greece’s creditors such as the European Central Banks and other European nations will face immediate losses.
We can help bailout Greece. Here are several ways on how you can help Greece weather the storm:
A crowd funding initiative has been launched on Indiegogo with an aim of raising 1.6 billion euros to help Greece pay a bailout loan from the IMF. You can help Greece through donating to a crowdfunding campaign started by Thom Feeney; a London based fundraiser. Feeney’s idea is that the financial crisis in Greece could be solved if every European donated as little as 3 Euros.
You can donate to Doctors without Borders and designate your gift to the Greece crisis. The organization has been helping people in need of food and healthcare in Athens, and many of these patients and victims are unemployed or elderly. Details on how to donate to the crisis in Greece through Doctors without borders are available online.
Donate to Desmos
Desmos, a non-profit organization, started by five women has been addressing the crisis in Greece responsibly and efficiently. Desmos plays an important role matching individual donors, corporations and organizations with charities in Greece. You can donate money or any item that you no longer need for a good course. More details on how you can make donations directly to Desmos are available on their website.
Atenistas is an initiative that organizes volunteering events to improve the city of Athens. They organize cultural walks, create pocket gardens and playgrounds to make Athens a friendlier city for all the residents. Details on how you can participate in Atenistas and make the beautiful city of Athens better are available on social media.
Donate to OneGreece.Org foundation.
OneGreece is an international fundraising initiative that supports the people of Greece. The Hellenic Initiative sponsors this initiative. You can donate household essentials, food, medicine, heating oil or money. For more information on how to make donations are available on their website.
Greece is known to be the birthplace of western civilization and a tourist hub. The country has a rich and long history of Athens, Corinth and Thebes retaining ancient landmarks and rich history. Tourism in Greece contributes 18% to the Gross Domestic Product of the country. You can contribute to Greece’s economy by visiting different tourist attractions in Greece to promoting historical and archaeological tourism and increase the country’s revenue.
Greece as a nation is facing hard times. The current crisis has taken a significant toll on the lives of the Greek people, however, we can help Greece weather the storm. Your contribution can be a glimmer of hope in the lives of the Greek people. Even if it may take some time, together we can help make Greece a better nation with more vibrant and sustainable economy.