{"id":36646,"date":"2015-07-04T20:17:47","date_gmt":"2015-07-04T20:17:47","guid":{"rendered":"http:\/\/vskills.in\/certification\/blog\/?p=36646"},"modified":"2024-04-03T13:18:51","modified_gmt":"2024-04-03T07:48:51","slug":"greece-glory-of-the-past","status":"publish","type":"post","link":"https:\/\/www.vskills.in\/certification\/blog\/greece-glory-of-the-past\/","title":{"rendered":"Greece: Glory of The Past"},"content":{"rendered":"<p style=\"text-align: center\"><a ref=\"magnificPopup\" href=\"http:\/\/vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/07\/Greece-Glory-of-The-Past.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-36739\" src=\"http:\/\/vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/07\/Greece-Glory-of-The-Past.jpg\" alt=\"Greece Glory of The Past\" width=\"276\" height=\"182\" \/><\/a><\/p>\n<p>Greece has always been known as an advanced high income economy with high quality of life and a very high standard of living. It has been a part of Eurozone since 2001. It ranks 43<sup>rd<\/sup> in terms of GDP according to the World Bank statistics in 2013. But time has changed and so has the economic atmosphere.<\/p>\n<p>Euro 60 or $ 67 is the maximum daily allowance that can be withdrawn from ATMs by individuals in Greece. The Greeks are engrossed in stocking milk powder and medicines; they are not able to buy apple store apps, already hit by hiked prices, even of the necessities, they are restricted to lead life the way they previously did. The government has put capital controls. Greece, with shuttered banks and disastrous stock market, is covered with the uncertainty cloak.<\/p>\n<p>The root cause behind Greece\u2019s tumultuous situation is the way the authorities have used the funds that were made available to them. It is evident that Greeks did not put their funds in productive work that could bring prosperity to them. Though they faced large budget deficits year after year, they did not make much capital expenditure. If they had done that, they would have made money out of the efficiently used funds. Hence, the quality of deficits narrates the entire story. This would remain incomplete if it isn\u2019t mentioned that Greeks have made expenditure, much more than their income. With more expenditure, rises the need for deficit financing or borrowing externally, which creates more liability. This is indeed a vicious circle, wherein Greece has been trapped. According to the statistics, it has borrowed roughly about 175% of its income (GDP). With such high borrowings and low income, an economic crash is an obvious situation. With these basics, one now may analyze the situation deeper and come up with various implementations, conclusions and diverse solutions.<\/p>\n<p><a href=\"http:\/\/www.vskills.in\/certification\/accounting-banking-and-finance\">Click here for government certification in Accounting, Banking &amp; Finance<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Greece has always been known as an advanced high income economy with high quality of life and a very high standard of living. It has been a part of Eurozone since 2001. It ranks 43rd in terms of GDP according to the World Bank statistics in 2013. But time has changed and so has the&#8230;<\/p>\n","protected":false},"author":1047,"featured_media":36739,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[1519],"tags":[3912,4610,1091,1900,2028],"class_list":["post-36646","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting-banking-and-finance","tag-bad-loans","tag-budget-deficit","tag-economic-crisis","tag-euro","tag-greece"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Greece: Glory of The Past - Vskills Blog<\/title>\n<meta name=\"description\" content=\"The Greeks have lost all hopes and are severely hit by the economic crisis. But many are still unaware of the root cause. Read here.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.vskills.in\/certification\/blog\/greece-glory-of-the-past\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Greece: Glory of The Past - Vskills Blog\" \/>\n<meta property=\"og:description\" content=\"The Greeks have lost all hopes and are severely hit by the economic crisis. But many are still unaware of the root cause. Read here.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.vskills.in\/certification\/blog\/greece-glory-of-the-past\/\" \/>\n<meta property=\"og:site_name\" content=\"Vskills Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/vskills.in\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/shatakshi.bhargava\" \/>\n<meta property=\"article:published_time\" content=\"2015-07-04T20:17:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-03T07:48:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/07\/Greece-Glory-of-The-Past.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"276\" \/>\n\t<meta property=\"og:image:height\" content=\"182\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Shatakshi Bhargava\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shatakshi Bhargava\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/greece-glory-of-the-past\/\",\"url\":\"https:\/\/www.vskills.in\/certification\/blog\/greece-glory-of-the-past\/\",\"name\":\"Greece: Glory of The Past - Vskills Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/greece-glory-of-the-past\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/greece-glory-of-the-past\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/07\/Greece-Glory-of-The-Past.jpg\",\"datePublished\":\"2015-07-04T20:17:47+00:00\",\"dateModified\":\"2024-04-03T07:48:51+00:00\",\"author\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/#\/schema\/person\/0308b01328a953940424b3d76e524849\"},\"description\":\"The Greeks have lost all hopes and are severely hit by the economic crisis. But many are still unaware of the root cause. Read here.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/greece-glory-of-the-past\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.vskills.in\/certification\/blog\/greece-glory-of-the-past\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/greece-glory-of-the-past\/#primaryimage\",\"url\":\"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/07\/Greece-Glory-of-The-Past.jpg\",\"contentUrl\":\"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/07\/Greece-Glory-of-The-Past.jpg\",\"width\":276,\"height\":182},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/greece-glory-of-the-past\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.vskills.in\/certification\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Greece: Glory of The Past\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/#website\",\"url\":\"https:\/\/www.vskills.in\/certification\/blog\/\",\"name\":\"Vskills Blog\",\"description\":\"Vskills - A Initiative in Assessment to Enhance Employability\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.vskills.in\/certification\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/#\/schema\/person\/0308b01328a953940424b3d76e524849\",\"name\":\"Shatakshi Bhargava\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.vskills.in\/certification\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/b37092160407a477f1606052f588900179c7a69a8b35a6b638cfb689ae96f039?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/b37092160407a477f1606052f588900179c7a69a8b35a6b638cfb689ae96f039?s=96&d=mm&r=g\",\"caption\":\"Shatakshi Bhargava\"},\"description\":\"Motivated and enthusiastic, I believe in growing each day. Upgrading myself along with my nation and its people is what I aim at. I truly believe in walking together.\",\"sameAs\":[\"https:\/\/www.facebook.com\/shatakshi.bhargava\",\"https:\/\/www.linkedin.com\/profile\/view?id=277819210&trk=hp-identity-name\"],\"url\":\"https:\/\/www.vskills.in\/certification\/blog\/author\/shatakshi-bhargava\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Greece: Glory of The Past - Vskills Blog","description":"The Greeks have lost all hopes and are severely hit by the economic crisis. But many are still unaware of the root cause. Read here.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.vskills.in\/certification\/blog\/greece-glory-of-the-past\/","og_locale":"en_US","og_type":"article","og_title":"Greece: Glory of The Past - Vskills Blog","og_description":"The Greeks have lost all hopes and are severely hit by the economic crisis. But many are still unaware of the root cause. Read here.","og_url":"https:\/\/www.vskills.in\/certification\/blog\/greece-glory-of-the-past\/","og_site_name":"Vskills Blog","article_publisher":"https:\/\/www.facebook.com\/vskills.in","article_author":"https:\/\/www.facebook.com\/shatakshi.bhargava","article_published_time":"2015-07-04T20:17:47+00:00","article_modified_time":"2024-04-03T07:48:51+00:00","og_image":[{"width":276,"height":182,"url":"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/07\/Greece-Glory-of-The-Past.jpg","type":"image\/jpeg"}],"author":"Shatakshi Bhargava","twitter_misc":{"Written by":"Shatakshi Bhargava","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.vskills.in\/certification\/blog\/greece-glory-of-the-past\/","url":"https:\/\/www.vskills.in\/certification\/blog\/greece-glory-of-the-past\/","name":"Greece: Glory of The Past - Vskills Blog","isPartOf":{"@id":"https:\/\/www.vskills.in\/certification\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.vskills.in\/certification\/blog\/greece-glory-of-the-past\/#primaryimage"},"image":{"@id":"https:\/\/www.vskills.in\/certification\/blog\/greece-glory-of-the-past\/#primaryimage"},"thumbnailUrl":"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/07\/Greece-Glory-of-The-Past.jpg","datePublished":"2015-07-04T20:17:47+00:00","dateModified":"2024-04-03T07:48:51+00:00","author":{"@id":"https:\/\/www.vskills.in\/certification\/blog\/#\/schema\/person\/0308b01328a953940424b3d76e524849"},"description":"The Greeks have lost all hopes and are severely hit by the economic crisis. But many are still unaware of the root cause. Read here.","breadcrumb":{"@id":"https:\/\/www.vskills.in\/certification\/blog\/greece-glory-of-the-past\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.vskills.in\/certification\/blog\/greece-glory-of-the-past\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.vskills.in\/certification\/blog\/greece-glory-of-the-past\/#primaryimage","url":"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/07\/Greece-Glory-of-The-Past.jpg","contentUrl":"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/07\/Greece-Glory-of-The-Past.jpg","width":276,"height":182},{"@type":"BreadcrumbList","@id":"https:\/\/www.vskills.in\/certification\/blog\/greece-glory-of-the-past\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.vskills.in\/certification\/blog\/"},{"@type":"ListItem","position":2,"name":"Greece: Glory of The Past"}]},{"@type":"WebSite","@id":"https:\/\/www.vskills.in\/certification\/blog\/#website","url":"https:\/\/www.vskills.in\/certification\/blog\/","name":"Vskills Blog","description":"Vskills - A Initiative in Assessment to Enhance Employability","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.vskills.in\/certification\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.vskills.in\/certification\/blog\/#\/schema\/person\/0308b01328a953940424b3d76e524849","name":"Shatakshi Bhargava","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.vskills.in\/certification\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/b37092160407a477f1606052f588900179c7a69a8b35a6b638cfb689ae96f039?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/b37092160407a477f1606052f588900179c7a69a8b35a6b638cfb689ae96f039?s=96&d=mm&r=g","caption":"Shatakshi Bhargava"},"description":"Motivated and enthusiastic, I believe in growing each day. Upgrading myself along with my nation and its people is what I aim at. I truly believe in walking together.","sameAs":["https:\/\/www.facebook.com\/shatakshi.bhargava","https:\/\/www.linkedin.com\/profile\/view?id=277819210&trk=hp-identity-name"],"url":"https:\/\/www.vskills.in\/certification\/blog\/author\/shatakshi-bhargava\/"}]}},"_links":{"self":[{"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/posts\/36646","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/users\/1047"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/comments?post=36646"}],"version-history":[{"count":4,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/posts\/36646\/revisions"}],"predecessor-version":[{"id":72768,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/posts\/36646\/revisions\/72768"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/media\/36739"}],"wp:attachment":[{"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/media?parent=36646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/categories?post=36646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vskills.in\/certification\/blog\/wp-json\/wp\/v2\/tags?post=36646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}