elections in Greece
In light of the recent elections in Greece, many people believe a Greek exit from the Euro zone and a default on debt are now more likely.
Firstly, find data on main economic variables such as the real exchange rate, the current account balance, real GDP, employment, government debt and the budget deficit for Greece and Germany since 2001. Undertake a simple descriptive (statistical based) analysis of these data and provide a discussion of the economic situation of Greece over this period, highlighting its competitive external position against Germany.
Secondly, consider a Greek exit from the Euro zone. In light of the data analysis undertaken above, evaluate the kinds of exchange rate policies and other macroeconomic policies that the Greek government could adopt if its goal were to promote export-driven growth in order to reverse the economic decline experienced over the last five years. Also discuss how the exit from the Euro zone might impact on the level of debt and the possibility of default’.
In this essay:
-Look at correlations and plots
-Identify descriptive patterns
-Analyze the statically descriptive analysis