Globalne konsekwencje kryzysu finansowego w Grecji
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Global consequences of the financial crisis in Greece
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The article attempts to analyse the 2007–2012 crisis from the point of view of regional integration. First, the author presents theories and effects of local integration, and then he examines the reasons of the crisis and concludes the paper by describing the impact of the crisis on EU economy. The present euro crisis began in early 2010 in Greece, which could not pay its debts. The European Central Bank and International Monetary Fund assisted it through radical economic reforms. There are, however, two other options, namely the withdrawal of Greece from the euro area and its return to drachma or the voluntary withdrawal of Germany from the euro area. Unfortunately, at the beginning of 2013, none of these options seems feasible, and they are, first of all, politically risky.
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