Results and Findings
This research has put forward the question “Should Germany help Greece?” The question has been analyzed in the literature review. According to what have been mentioned in previous parts of this , the obvious answer to the question is no. Germany should not help Greece.
The findings can be divided into four parts. Firstly, helping Greece will indulge her to depend on other countries’ assistance instead of focusing on its own programme. Secondly, helping Greece will also affect the economy and social stability in Germany. Voters of Germany have the belief that rescuing Greece will never solve the root problem. Thirdly, helping Greece will pose a threat to the economics of Europe’s trading partners. And countries that are opposed to the idea of bailing out Greece may restrict the trade with Germany if it does so. Fourthly, helping Greece set a bad example for other Eurozone countries. Germany should focus on a bigger area instead of a given country.
In the background that Greece has received help from International Monetary Fund (IMF) with conditions. It should stick to its original programme instead of asking for help. And Germany should urge Greece to fulfill the conditions. It would be hard but necessary for Greece to make a reform. There are stubborn political problems in the Greek debt crisis. The Greek government may not want to make a reform unless the situation forces it to. So Germany may as well give Greece a push by refusing to help. And international efforts should be taken to ensure that Greece is acting in accord with its commitments to the IMF.
This research has pointed out that helping Greece will be bad for the economy and social stability in Germany. But there is no detail about how bad it will be. It will be better if additional research give some economic data and testimonies to illustrate the influence of helping Greece. The literature view has mentioned that helping Greece will set a bad example for other countries. But it is hard to predict how other countries will respond to this bad example. To improve the research, it may be helpful to compare historical economic events with the current situation. Although the situation has changed, history still has reference value.
Conclusion
Previous research has explained why Germany should not give more assistance to Greece in economic term. It will make Greece more dependent on other countries’ assistance instead of focusing on its own program. On the other hand, it will also affect the economy in Germany. While this research blends in historical factors, ethical factors and political factors.
Historical aid that Greece gave Germany did not deserve or guarantee financial bailment today. Helping Greece not only does harm to Germany in the aspects of social stability and economy, but also pose a threat to the economics of Europe’s trading partners. Moreover, Countries that are opposed to the idea of bailing out Greece may restrict the trade with Germany if it does so, which means that Germany will suffer both economically and politically if they give Greece financial aid. And voters of Germany do not want to help Greece. Helping Greece may also set a bad example for other worse performed countries in Eurozone. Apparently, Germany cannot help all those countries.
Therefore, helping Greece not only does harm to Germany, but also set a bad example for other countries. And it may indulge Greece to depend on other countries’ help. Taking historical factors, ethical factors and political factors into account has made this research more complicated.
When it comes to the research topic “Should Germany help Greece?” It is important to investigate its economic impact and political impact of this issue. It is obvious that the answer to the topic question not only influences Germany and Greece, but also has an impact on the whole world.
Here comes to a topic for further research: Why the debt crisis broke up in Greece. Some countries have more debt than Greece, for example, Japan, St. Kitts and Nevis, Lebanon, Jamaica (Danielle Kurtzleben, 2017). Those countries were more in debt than Greece according to the “Debt as Percent of GDP” (Danielle Kurtzleben, 2017). But debt crisis did not break up in those countries. Then, why Greece? To answer this question, it is reasonable to dig up a lot of economic data. However, it is not enough. The true cause of the Greek sovereign debt crisis is the failure of Greek governance system, a bad management of public finances (Nasos Mihalakas, 2017). Then, it is natural to ask what’s the problem with Greek governance system. Why did Greek government perform so badly? A lot of research can be done in terms of the Greek system of governance.
Come back to the topic “Should Germany help Greece?” The answer is no. If Greece does not learn a lesson in the debt crisis, the same mistake will repeat one day. And Greek government really needs to take action to reform her system of governance.
References
Bryman, A. (2017). Social research methods. Oxford: Oxford university press.
Reinhart, C. M., & Rogoff, K. (2017). This time is different: Eight centuries of financial folly. Princeton University Press.
Sapsford, R., & Jupp, V. (Eds.). (2017). Data collection and analysis. London: Sage.
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