The financial future of Greece remains unclear. There was a change of government, while the current assistance scheme devised by the European Commission, the European Central Bank and the International Monetary Fund is drawing to a close. All this leads one to ask: Will Greece stay in the Eurozone?
Mr Maciej Bukowski, chairman of the Warsaw Institute for Economic Studies (WISE) believes that it all depends on the scenario that will unfold. One can imagine that Greece embarks upon a radical path, leaving the Eurozone and introducing a new currency. As a result of such decision, the value of this currency would drop, leading to a significant decrease in the level of welfare of citizens. Import would increase drastically, since the Greek economy is not self-sufficient and needs to export its products abroad in order to be able to import various other goods. For the Greeks themselves, the repayment of the debt itself would become a problem. According to this worst-case scenario, the Greek government would refuse to repay their debts and declare bankruptcy, which would have an impact on the economic growth in Europe as a whole.
These and other issues were addressed by the guests of the Ekonomia Kapitał Gospodarka programme hosted by Maciej Głogowski: Mr Witold Orłowski (Warsaw University of Technology), Ms Lida Adamska (independent financial advisor), Mr Maciej Bukowski (chairman of the Warsaw Institute for Economic Studies).
