The Effects the Greek Financial Crisis Will Have on the British Economy

Abstract

The notion of financial crisis is one of the hot topics among economists. Though it is not coming under a proper definition, it’s all about a situation where, disturbances in financial markets increase to a level of a catastrophe when the amount of monetary terms towards the households and to businesses is constrained and the real value of commodities are unfavorably affected. The Greece is a one of the developed counties in the Europe. The country corresponds with high level of human development indicators. Besides, the country faced a debt crisis due to many reasons. The UK is also somewhat moderate in human development indicators as well. Nonetheless, this paper defines macroeconomic variables of those two countries and the implication of the financial crisis in the Greece and the impact it has on the UK’s economy.

Keywords: Economic Growth, Financial Crisis, Financial Markets

JEL Classification: A10, D0, E0