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In August, Greek Prime Minister Alexis Tsipras won a second term as part of snap elections. Tsipras is part of the leftist party called Syriza, which won 145 of 300 parliamentary seats. Tsipras will have to work closely with the right-wing Independent Greek Party as part of an uneasy coalition to make inroads on the country's massive debt crisis. In October, there will be a comprehensive review of Greece's third bailout package of 86 billion euros.
Greece's economic fate has been dominating Europe for years. Greek leaders have been debating leaders from the EU, especially German Chancellor Angela Merkel. Here, we learn some basic facts about Greece's economic, political, and military power. Greece has a GDP of roughly $240 billion, according to the World Bank. The economy is largely based on service sector, merchant shipping, and tourism. However, Greece is facing a $350 billion debt, with rising unemployment and falling GDP. In terms of military, Greece spends about $6.5 billion on its military and requires Greek men serve for a period.
It's difficult to predict what's to come for Greece. Greek citizens have been pushing back aggressively on the harsh austerity measures, but Germany and EU leaders are requiring them as part of the bailout package.
12 Gifts Ancient Greece Gave To The World (huffingtonpost.com)
"It's easy to forget just how much credit we owe the brilliant minds of ancient Greece."
How Much Does Greece Owe? 4 Charts That Put Greek Debt in Perspective (moneymorning.com)
"The Greek government has received a 7.16 billion euro disbursement ($7.8 billion) from the European Union (EU) as a stop-gap until its full three-year bailout has been settled."
Can the eurozone afford a Greek exit? (theguardian.com)
"Eurozone officials have spent the last four years building a financial buffer big enough to cope with a Greek exit."