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The advantages and disadvantages of Greece's membership in the WTO

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The advantages and disadvantages of Greece's membership in the World Trade Organization Greece's membership in the World Trade Organization has been extremely beneficial for them in terms of imports and exports. Roughly 50% of their exports are going to Europe, and because they are in the European Union, those exports would be going to Europe whether or not they had membership in the World Trade Organization. The other 50% of their exports are going to countries such as China, Egypt, Libya, and the United States; they wouldn't be trading with these countries without the World Trade Organization. The World Trade Organization has opened up many markets that wouldn't be otherwise accessible.  Also, around 50% of Greece's imports are coming from Europe. The other 50% is primarily coming from Asia, Africa, and the United States, which relatively similar to their exports. This makes Greece's import situation very similar to their export situation. The World Trade Orga...
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Causes of Inequality and Poverty in Greece

Causes of Inequality and Poverty in Greece To understand the causes of inequality and poverty in Greece we have to look back to its joining the European Union in the ’80s and what followed.  Greece became the 10th member of the European Union on Jan. 1, 1981. At this point, Greece was in good financial shape and had very few economic problems. The 30 years following joining the European Union, Greece spiraled into a debt crisis that was caused by heavy government spending which led to a slowdown in economic growth. Months following joining the EU, in October of 1981, the Panhellenic Socialist Movement (a political party) came into power and for the next three decades, they alternated being in positions of power with the New Democracy Party. This constant change in power and the want to please voters led to a troubled economy, “In a continuing bid to keep Greek voters happy, both parties lavished liberal welfare policies on their electorates, creating a bloated, inefficient, and pro...
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Lorenz Curve

 Gini Coefficient 2006: 35.1  Gini Coefficient 2016: 35 This lorenz curve shows a decrease in inequality from 2006 to 2016. We also see this represented when looking at the change in the gini coefficient from 2006 to 2016
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