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Questioned on whether the referendum would be a euro-drachma dilemma, Greece's finance minister, Yanis Varoufakis, said that European Treaties make provisions for an exit from the EU but do not make any provisions for an exit from the Eurozone. A referendum as a choice involving exit from the Eurozone would violate EU Treaties and EU Law. [57]
Despite the claims by analysts abroad and in Greece [34] that the referendum might open the way for Greece's withdrawal from the Eurozone, and despite polls showing that Greek citizens would prefer keeping the common currency "at all costs," [35] [36] the referendum, conducted on 5 July 2015, returned a result of 61.3% for "No" and 38.7% for "Yes."
Despite sovereign debt having risen substantially in only a few eurozone countries, with the three most affected countries Greece, Ireland and Portugal collectively only accounting for 6% of the eurozone's gross domestic product (GDP), [26] it became a perceived problem for the area as a whole, [27] leading to concerns about further contagion ...
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Grexit is Greece's potential exit from the eurozone, while Brexit is the United Kingdom's potential exit from the European Union.
The COVID-19 pandemic in Greece was a part of the worldwide pandemic of coronavirus disease 2019 caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The first case in Greece was confirmed on 26 February 2020 when a 38-year-old woman from Thessaloniki who had recently visited Νorthern Italy , was confirmed to be infected.
In the wake of Greece's debt crisis, the economic union of the European countries that share the euro as their common currency has been tested as never before. Some have suggested that the debacle ...
Eurosystem: the monetary authority of the Eurozone, consisting of the European Central Bank (ECB) and the central banks of the member states that belong to the Eurozone. The function of the Eurosystem is to apply the monetary policy decided by the ECB. See also ESCB.