UM E-Theses Collection (澳門大學電子學位論文庫)

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Will Greece drop from the Eurozone? : the prospects and implications

English Abstract

The Greek crisis was one of the major events to be settled in Europe. Since its outbreak in 2009, Greek economy has collapsed. The crisis also spread quickly in a short timeframe, causing the European debt crisis, which wounded the European economy and shook the stability of Eurozone, and the world’s confidence in Euro. During this crisis, the possibility that Greece may exit the euro zone was also widely discussed by the international community. Seven years after the crisis, although Greece has had many negotiations with Eurozone, its domestic situation remains unstable. However, if Greece leaves Eurozone, Greece, Eurozone, EU, even the world’s economy pattern, especially the process of European integration would be affected. This thesis combines theory with empirical analysis and takes two classic current events of “Greek referendum” and “the third rescue agreement” as cases. With the combination of international relation theory and some economic theories, the impacts of Greece future development on its domestic, on the world and on the process of European integration are analyzed. In the year of 2015, Greek launched a referendum on whether accepting the “ third round of economic assistance” and the result rejected the proposal. Greek leader Tsipras and most citizens hoped to increase the possibility for “Greek exit from Eurozone”, which made the tension between Greece, Eurozone and creditors more 10 severe. Many European countries and members of the international community believed that Greece might exit Eurozone as they voted to reject the referendum. However, Greece didn’t exit Eurozone after the referendum, and reached an agreement on the third round assistance with Eurozone and creditors, turning down the illusion of “Greece may exit the euro zone”. The tension between Greece and the euro zone has been released, but problems and contradictions in Greece remain.. Through the research, it is found that whether Greece exits Eurozone or not, it will bring certain positive or negative effects on Greece, Eurozone, EU, and even the world. Future development of Greece relies on finding a steady and sustainable development path.

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Zhou, Zhi Yu


Faculty of Social Sciences and Humanities


Department of Government and Public Administration





Financial crises -- Greece

Global Financial Crisis, 2008-2009 -- Greece

Greece -- Economic conditions -- 21st century


Wang Jianwei

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