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Directions (76-80): You have a passage with five questions following.
Passage – I
As financial markets worldwide tumbled over concerns that Greece would default on its debt to the troika comprising the European Commission, the European Central Bank and the International Monetary Fund, the people of Greece were being presented with a Hobson’s choice by its government led by the leftist party platform, Syriza. In the midst of intense negotiations with representatives of the troika over rolling over debt payments, the Syriza government sought to extend the deadline for payments in order to allow it to put the conditionalities of the troika for a bailout extension to a referendum vote. Prime Minister Alexis Tsipras has denied that this referendum, scheduled for July 5, is on whether or not to continue within the eurozone; he says it is only on the acceptance of the troika’s demands. But with the troika unrelenting on the June 30 deadline for repayment of debts to the IMF, and Greece being in no position to pay, the referendum could more or less be on remaining in the eurozone. This presents a difficult choice for the people of Greece. After all, the Syriza was voted to power in January 2015 precisely on the promise of halting the programme of austerity imposed by creditors that has resulted in a drastic contraction of Greece’s economy and increase in unemployment. Yet, the mandate was also for negotiations to remain within the eurozone as Greek voters had realised that the Grexit would mean too much pain (at least in the near term) due to capital flight, a run on the banks and other troubles in returning to the drachma as currency. Over the past five months, Syriza representatives, true to their mandate, have sought to alter Greece’s terms of engagement with its creditors, seeking debt relief that would allow fiscal expansionary policies to spur the economy. Yet, the troika’s response has been to stonewall the proposals and instead push Greece to further the austerity measures it has pursued following the first major bailout in 2010 and another in 2012. The troika’s reasoning is simple: tolerating a Greek default would amount to sending signals to other creditor-nations about similar leniency. Instead, the troika has merely offered a five-month extension of Greece’s bailout programme with fresh funds but with persisting austerity conditions. With barely a concession to the Greek position, there remains a wide gap between the Greek people’s expectations and the EU recommendations. With Greece already having to impose capital controls and bank holidays to avoid further capital flight — measures that were supposed to be taken in the event of an exit from the EU — it begs the question whether the Grexit is inevitable.
Q. Choose an appropriate title for the passage.
- a)The woes of Greece
- b)Greek economic crisis
- c)Greece debt crisis
- d)Greece, the weak link in the Eurozone.
Correct answer is option 'A'. Can you explain this answer?
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Directions (76-80): You have a passage with five questions following.P...
Introduction:
The passage discusses the current economic crisis faced by Greece due to its inability to repay its debts to the troika.
Explanation:
- Woes of Greece: The passage highlights the challenges faced by Greece, including the possibility of defaulting on its debt, the dilemma of whether to remain in the eurozone, and the impact of austerity measures on the economy.
- Greek Economic Crisis: The passage delves into the economic turmoil in Greece, which has led to financial market instability, negotiations with creditors, and the imposition of capital controls to prevent capital flight.
- Greece Debt Crisis: The primary focus of the passage is on Greece's debt crisis, with the government seeking to renegotiate terms with the troika to alleviate the burden of austerity measures.
- Greece, the Weak Link in the Eurozone: The passage suggests that Greece's economic struggles have made it a vulnerable member of the eurozone, with the possibility of a Grexit looming due to the inability to meet debt obligations.
Conclusion:
The appropriate title for the passage would be "The woes of Greece" as it encapsulates the various challenges faced by the country in the context of its economic crisis and debt obligations.
The passage discusses the current economic crisis faced by Greece due to its inability to repay its debts to the troika.
Explanation:
- Woes of Greece: The passage highlights the challenges faced by Greece, including the possibility of defaulting on its debt, the dilemma of whether to remain in the eurozone, and the impact of austerity measures on the economy.
- Greek Economic Crisis: The passage delves into the economic turmoil in Greece, which has led to financial market instability, negotiations with creditors, and the imposition of capital controls to prevent capital flight.
- Greece Debt Crisis: The primary focus of the passage is on Greece's debt crisis, with the government seeking to renegotiate terms with the troika to alleviate the burden of austerity measures.
- Greece, the Weak Link in the Eurozone: The passage suggests that Greece's economic struggles have made it a vulnerable member of the eurozone, with the possibility of a Grexit looming due to the inability to meet debt obligations.
Conclusion:
The appropriate title for the passage would be "The woes of Greece" as it encapsulates the various challenges faced by the country in the context of its economic crisis and debt obligations.
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Directions (76-80): You have a passage with five questions following.Passage IAs financial markets worldwide tumbled over concerns that Greece would default on its debt to the troika comprising the European Commission, the European Central Bank and the International Monetary Fund, the people of Greece were being presented with a Hobsons choice by its government led by the leftist party platform, Syriza. In the midst of intense negotiations with representatives of the troika over rolling over debt payments, the Syriza government sought to extend the deadline for payments in order to allow it to put the conditionalities of the troika for a bailout extension to a referendum vote. Prime Minister Alexis Tsipras has denied that this referendum, scheduled for July 5, is on whether or not to continue within the eurozone; he says it is only on the acceptance of the troikas demands. But with the troika unrelenting on the June 30 deadline for repayment of debts to the IMF, and Greece being in no position to pay, the referendum could more or less be on remaining in the eurozone. This presents a difficult choice for the people of Greece. After all, the Syriza was voted to power in January 2015 precisely on the promise of halting the programme of austerity imposed by creditors that has resulted in a drastic contraction of Greeces economy and increase in unemployment. Yet, the mandate was also for negotiations to remain within the eurozone as Greek voters had realised that the Grexit would mean too much pain (at least in the near term) due to capital flight, a run on the banks and other troubles in returning to the drachma as currency. Over the past five months, Syriza representatives, true to their mandate, have sought to alter Greeces terms of engagement with its creditors, seeking debt relief that would allow fiscal expansionary policies to spur the economy. Yet, the troikas response has been to stonewall the proposals and instead push Greece to further the austerity measures it has pursued following the first major bailout in 2010 and another in 2012. The troikas reasoning is simple: tolerating a Greek default would amount to sending signals to other creditor-nationsabout similar leniency. Instead, the troika has merely offered a five-month extension of Greeces bailout programme with fresh funds but with persisting austerity conditions. With barely a concession to the Greek position, there remains a wide gap between the Greek peoples expectations and the EU recommendations. With Greece already having to impose capital controls and bank holidays to avoid further capital flight measures that were supposed to be taken in the event of an exit from the EU it begs the question whether the Grexit is inevitable.Q. Choose an appropriate title for the passage.a)The woes of Greeceb)Greek economic crisisc)Greece debt crisisd)Greece, the weak link in the Eurozone.Correct answer is option 'A'. Can you explain this answer?
Question Description
Directions (76-80): You have a passage with five questions following.Passage IAs financial markets worldwide tumbled over concerns that Greece would default on its debt to the troika comprising the European Commission, the European Central Bank and the International Monetary Fund, the people of Greece were being presented with a Hobsons choice by its government led by the leftist party platform, Syriza. In the midst of intense negotiations with representatives of the troika over rolling over debt payments, the Syriza government sought to extend the deadline for payments in order to allow it to put the conditionalities of the troika for a bailout extension to a referendum vote. Prime Minister Alexis Tsipras has denied that this referendum, scheduled for July 5, is on whether or not to continue within the eurozone; he says it is only on the acceptance of the troikas demands. But with the troika unrelenting on the June 30 deadline for repayment of debts to the IMF, and Greece being in no position to pay, the referendum could more or less be on remaining in the eurozone. This presents a difficult choice for the people of Greece. After all, the Syriza was voted to power in January 2015 precisely on the promise of halting the programme of austerity imposed by creditors that has resulted in a drastic contraction of Greeces economy and increase in unemployment. Yet, the mandate was also for negotiations to remain within the eurozone as Greek voters had realised that the Grexit would mean too much pain (at least in the near term) due to capital flight, a run on the banks and other troubles in returning to the drachma as currency. Over the past five months, Syriza representatives, true to their mandate, have sought to alter Greeces terms of engagement with its creditors, seeking debt relief that would allow fiscal expansionary policies to spur the economy. Yet, the troikas response has been to stonewall the proposals and instead push Greece to further the austerity measures it has pursued following the first major bailout in 2010 and another in 2012. The troikas reasoning is simple: tolerating a Greek default would amount to sending signals to other creditor-nationsabout similar leniency. Instead, the troika has merely offered a five-month extension of Greeces bailout programme with fresh funds but with persisting austerity conditions. With barely a concession to the Greek position, there remains a wide gap between the Greek peoples expectations and the EU recommendations. With Greece already having to impose capital controls and bank holidays to avoid further capital flight measures that were supposed to be taken in the event of an exit from the EU it begs the question whether the Grexit is inevitable.Q. Choose an appropriate title for the passage.a)The woes of Greeceb)Greek economic crisisc)Greece debt crisisd)Greece, the weak link in the Eurozone.Correct answer is option 'A'. Can you explain this answer? for SSC 2024 is part of SSC preparation. The Question and answers have been prepared according to the SSC exam syllabus. Information about Directions (76-80): You have a passage with five questions following.Passage IAs financial markets worldwide tumbled over concerns that Greece would default on its debt to the troika comprising the European Commission, the European Central Bank and the International Monetary Fund, the people of Greece were being presented with a Hobsons choice by its government led by the leftist party platform, Syriza. In the midst of intense negotiations with representatives of the troika over rolling over debt payments, the Syriza government sought to extend the deadline for payments in order to allow it to put the conditionalities of the troika for a bailout extension to a referendum vote. Prime Minister Alexis Tsipras has denied that this referendum, scheduled for July 5, is on whether or not to continue within the eurozone; he says it is only on the acceptance of the troikas demands. But with the troika unrelenting on the June 30 deadline for repayment of debts to the IMF, and Greece being in no position to pay, the referendum could more or less be on remaining in the eurozone. This presents a difficult choice for the people of Greece. After all, the Syriza was voted to power in January 2015 precisely on the promise of halting the programme of austerity imposed by creditors that has resulted in a drastic contraction of Greeces economy and increase in unemployment. Yet, the mandate was also for negotiations to remain within the eurozone as Greek voters had realised that the Grexit would mean too much pain (at least in the near term) due to capital flight, a run on the banks and other troubles in returning to the drachma as currency. Over the past five months, Syriza representatives, true to their mandate, have sought to alter Greeces terms of engagement with its creditors, seeking debt relief that would allow fiscal expansionary policies to spur the economy. Yet, the troikas response has been to stonewall the proposals and instead push Greece to further the austerity measures it has pursued following the first major bailout in 2010 and another in 2012. The troikas reasoning is simple: tolerating a Greek default would amount to sending signals to other creditor-nationsabout similar leniency. Instead, the troika has merely offered a five-month extension of Greeces bailout programme with fresh funds but with persisting austerity conditions. With barely a concession to the Greek position, there remains a wide gap between the Greek peoples expectations and the EU recommendations. With Greece already having to impose capital controls and bank holidays to avoid further capital flight measures that were supposed to be taken in the event of an exit from the EU it begs the question whether the Grexit is inevitable.Q. Choose an appropriate title for the passage.a)The woes of Greeceb)Greek economic crisisc)Greece debt crisisd)Greece, the weak link in the Eurozone.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for SSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Directions (76-80): You have a passage with five questions following.Passage IAs financial markets worldwide tumbled over concerns that Greece would default on its debt to the troika comprising the European Commission, the European Central Bank and the International Monetary Fund, the people of Greece were being presented with a Hobsons choice by its government led by the leftist party platform, Syriza. In the midst of intense negotiations with representatives of the troika over rolling over debt payments, the Syriza government sought to extend the deadline for payments in order to allow it to put the conditionalities of the troika for a bailout extension to a referendum vote. Prime Minister Alexis Tsipras has denied that this referendum, scheduled for July 5, is on whether or not to continue within the eurozone; he says it is only on the acceptance of the troikas demands. But with the troika unrelenting on the June 30 deadline for repayment of debts to the IMF, and Greece being in no position to pay, the referendum could more or less be on remaining in the eurozone. This presents a difficult choice for the people of Greece. After all, the Syriza was voted to power in January 2015 precisely on the promise of halting the programme of austerity imposed by creditors that has resulted in a drastic contraction of Greeces economy and increase in unemployment. Yet, the mandate was also for negotiations to remain within the eurozone as Greek voters had realised that the Grexit would mean too much pain (at least in the near term) due to capital flight, a run on the banks and other troubles in returning to the drachma as currency. Over the past five months, Syriza representatives, true to their mandate, have sought to alter Greeces terms of engagement with its creditors, seeking debt relief that would allow fiscal expansionary policies to spur the economy. Yet, the troikas response has been to stonewall the proposals and instead push Greece to further the austerity measures it has pursued following the first major bailout in 2010 and another in 2012. The troikas reasoning is simple: tolerating a Greek default would amount to sending signals to other creditor-nationsabout similar leniency. Instead, the troika has merely offered a five-month extension of Greeces bailout programme with fresh funds but with persisting austerity conditions. With barely a concession to the Greek position, there remains a wide gap between the Greek peoples expectations and the EU recommendations. With Greece already having to impose capital controls and bank holidays to avoid further capital flight measures that were supposed to be taken in the event of an exit from the EU it begs the question whether the Grexit is inevitable.Q. Choose an appropriate title for the passage.a)The woes of Greeceb)Greek economic crisisc)Greece debt crisisd)Greece, the weak link in the Eurozone.Correct answer is option 'A'. Can you explain this answer?.
Directions (76-80): You have a passage with five questions following.Passage IAs financial markets worldwide tumbled over concerns that Greece would default on its debt to the troika comprising the European Commission, the European Central Bank and the International Monetary Fund, the people of Greece were being presented with a Hobsons choice by its government led by the leftist party platform, Syriza. In the midst of intense negotiations with representatives of the troika over rolling over debt payments, the Syriza government sought to extend the deadline for payments in order to allow it to put the conditionalities of the troika for a bailout extension to a referendum vote. Prime Minister Alexis Tsipras has denied that this referendum, scheduled for July 5, is on whether or not to continue within the eurozone; he says it is only on the acceptance of the troikas demands. But with the troika unrelenting on the June 30 deadline for repayment of debts to the IMF, and Greece being in no position to pay, the referendum could more or less be on remaining in the eurozone. This presents a difficult choice for the people of Greece. After all, the Syriza was voted to power in January 2015 precisely on the promise of halting the programme of austerity imposed by creditors that has resulted in a drastic contraction of Greeces economy and increase in unemployment. Yet, the mandate was also for negotiations to remain within the eurozone as Greek voters had realised that the Grexit would mean too much pain (at least in the near term) due to capital flight, a run on the banks and other troubles in returning to the drachma as currency. Over the past five months, Syriza representatives, true to their mandate, have sought to alter Greeces terms of engagement with its creditors, seeking debt relief that would allow fiscal expansionary policies to spur the economy. Yet, the troikas response has been to stonewall the proposals and instead push Greece to further the austerity measures it has pursued following the first major bailout in 2010 and another in 2012. The troikas reasoning is simple: tolerating a Greek default would amount to sending signals to other creditor-nationsabout similar leniency. Instead, the troika has merely offered a five-month extension of Greeces bailout programme with fresh funds but with persisting austerity conditions. With barely a concession to the Greek position, there remains a wide gap between the Greek peoples expectations and the EU recommendations. With Greece already having to impose capital controls and bank holidays to avoid further capital flight measures that were supposed to be taken in the event of an exit from the EU it begs the question whether the Grexit is inevitable.Q. Choose an appropriate title for the passage.a)The woes of Greeceb)Greek economic crisisc)Greece debt crisisd)Greece, the weak link in the Eurozone.Correct answer is option 'A'. Can you explain this answer? for SSC 2024 is part of SSC preparation. The Question and answers have been prepared according to the SSC exam syllabus. Information about Directions (76-80): You have a passage with five questions following.Passage IAs financial markets worldwide tumbled over concerns that Greece would default on its debt to the troika comprising the European Commission, the European Central Bank and the International Monetary Fund, the people of Greece were being presented with a Hobsons choice by its government led by the leftist party platform, Syriza. In the midst of intense negotiations with representatives of the troika over rolling over debt payments, the Syriza government sought to extend the deadline for payments in order to allow it to put the conditionalities of the troika for a bailout extension to a referendum vote. Prime Minister Alexis Tsipras has denied that this referendum, scheduled for July 5, is on whether or not to continue within the eurozone; he says it is only on the acceptance of the troikas demands. But with the troika unrelenting on the June 30 deadline for repayment of debts to the IMF, and Greece being in no position to pay, the referendum could more or less be on remaining in the eurozone. This presents a difficult choice for the people of Greece. After all, the Syriza was voted to power in January 2015 precisely on the promise of halting the programme of austerity imposed by creditors that has resulted in a drastic contraction of Greeces economy and increase in unemployment. Yet, the mandate was also for negotiations to remain within the eurozone as Greek voters had realised that the Grexit would mean too much pain (at least in the near term) due to capital flight, a run on the banks and other troubles in returning to the drachma as currency. Over the past five months, Syriza representatives, true to their mandate, have sought to alter Greeces terms of engagement with its creditors, seeking debt relief that would allow fiscal expansionary policies to spur the economy. Yet, the troikas response has been to stonewall the proposals and instead push Greece to further the austerity measures it has pursued following the first major bailout in 2010 and another in 2012. The troikas reasoning is simple: tolerating a Greek default would amount to sending signals to other creditor-nationsabout similar leniency. Instead, the troika has merely offered a five-month extension of Greeces bailout programme with fresh funds but with persisting austerity conditions. With barely a concession to the Greek position, there remains a wide gap between the Greek peoples expectations and the EU recommendations. With Greece already having to impose capital controls and bank holidays to avoid further capital flight measures that were supposed to be taken in the event of an exit from the EU it begs the question whether the Grexit is inevitable.Q. Choose an appropriate title for the passage.a)The woes of Greeceb)Greek economic crisisc)Greece debt crisisd)Greece, the weak link in the Eurozone.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for SSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Directions (76-80): You have a passage with five questions following.Passage IAs financial markets worldwide tumbled over concerns that Greece would default on its debt to the troika comprising the European Commission, the European Central Bank and the International Monetary Fund, the people of Greece were being presented with a Hobsons choice by its government led by the leftist party platform, Syriza. In the midst of intense negotiations with representatives of the troika over rolling over debt payments, the Syriza government sought to extend the deadline for payments in order to allow it to put the conditionalities of the troika for a bailout extension to a referendum vote. Prime Minister Alexis Tsipras has denied that this referendum, scheduled for July 5, is on whether or not to continue within the eurozone; he says it is only on the acceptance of the troikas demands. But with the troika unrelenting on the June 30 deadline for repayment of debts to the IMF, and Greece being in no position to pay, the referendum could more or less be on remaining in the eurozone. This presents a difficult choice for the people of Greece. After all, the Syriza was voted to power in January 2015 precisely on the promise of halting the programme of austerity imposed by creditors that has resulted in a drastic contraction of Greeces economy and increase in unemployment. Yet, the mandate was also for negotiations to remain within the eurozone as Greek voters had realised that the Grexit would mean too much pain (at least in the near term) due to capital flight, a run on the banks and other troubles in returning to the drachma as currency. Over the past five months, Syriza representatives, true to their mandate, have sought to alter Greeces terms of engagement with its creditors, seeking debt relief that would allow fiscal expansionary policies to spur the economy. Yet, the troikas response has been to stonewall the proposals and instead push Greece to further the austerity measures it has pursued following the first major bailout in 2010 and another in 2012. The troikas reasoning is simple: tolerating a Greek default would amount to sending signals to other creditor-nationsabout similar leniency. Instead, the troika has merely offered a five-month extension of Greeces bailout programme with fresh funds but with persisting austerity conditions. With barely a concession to the Greek position, there remains a wide gap between the Greek peoples expectations and the EU recommendations. With Greece already having to impose capital controls and bank holidays to avoid further capital flight measures that were supposed to be taken in the event of an exit from the EU it begs the question whether the Grexit is inevitable.Q. Choose an appropriate title for the passage.a)The woes of Greeceb)Greek economic crisisc)Greece debt crisisd)Greece, the weak link in the Eurozone.Correct answer is option 'A'. Can you explain this answer?.
Solutions for Directions (76-80): You have a passage with five questions following.Passage IAs financial markets worldwide tumbled over concerns that Greece would default on its debt to the troika comprising the European Commission, the European Central Bank and the International Monetary Fund, the people of Greece were being presented with a Hobsons choice by its government led by the leftist party platform, Syriza. In the midst of intense negotiations with representatives of the troika over rolling over debt payments, the Syriza government sought to extend the deadline for payments in order to allow it to put the conditionalities of the troika for a bailout extension to a referendum vote. Prime Minister Alexis Tsipras has denied that this referendum, scheduled for July 5, is on whether or not to continue within the eurozone; he says it is only on the acceptance of the troikas demands. But with the troika unrelenting on the June 30 deadline for repayment of debts to the IMF, and Greece being in no position to pay, the referendum could more or less be on remaining in the eurozone. This presents a difficult choice for the people of Greece. After all, the Syriza was voted to power in January 2015 precisely on the promise of halting the programme of austerity imposed by creditors that has resulted in a drastic contraction of Greeces economy and increase in unemployment. Yet, the mandate was also for negotiations to remain within the eurozone as Greek voters had realised that the Grexit would mean too much pain (at least in the near term) due to capital flight, a run on the banks and other troubles in returning to the drachma as currency. Over the past five months, Syriza representatives, true to their mandate, have sought to alter Greeces terms of engagement with its creditors, seeking debt relief that would allow fiscal expansionary policies to spur the economy. Yet, the troikas response has been to stonewall the proposals and instead push Greece to further the austerity measures it has pursued following the first major bailout in 2010 and another in 2012. The troikas reasoning is simple: tolerating a Greek default would amount to sending signals to other creditor-nationsabout similar leniency. Instead, the troika has merely offered a five-month extension of Greeces bailout programme with fresh funds but with persisting austerity conditions. With barely a concession to the Greek position, there remains a wide gap between the Greek peoples expectations and the EU recommendations. With Greece already having to impose capital controls and bank holidays to avoid further capital flight measures that were supposed to be taken in the event of an exit from the EU it begs the question whether the Grexit is inevitable.Q. Choose an appropriate title for the passage.a)The woes of Greeceb)Greek economic crisisc)Greece debt crisisd)Greece, the weak link in the Eurozone.Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for SSC.
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Here you can find the meaning of Directions (76-80): You have a passage with five questions following.Passage IAs financial markets worldwide tumbled over concerns that Greece would default on its debt to the troika comprising the European Commission, the European Central Bank and the International Monetary Fund, the people of Greece were being presented with a Hobsons choice by its government led by the leftist party platform, Syriza. In the midst of intense negotiations with representatives of the troika over rolling over debt payments, the Syriza government sought to extend the deadline for payments in order to allow it to put the conditionalities of the troika for a bailout extension to a referendum vote. Prime Minister Alexis Tsipras has denied that this referendum, scheduled for July 5, is on whether or not to continue within the eurozone; he says it is only on the acceptance of the troikas demands. But with the troika unrelenting on the June 30 deadline for repayment of debts to the IMF, and Greece being in no position to pay, the referendum could more or less be on remaining in the eurozone. This presents a difficult choice for the people of Greece. After all, the Syriza was voted to power in January 2015 precisely on the promise of halting the programme of austerity imposed by creditors that has resulted in a drastic contraction of Greeces economy and increase in unemployment. Yet, the mandate was also for negotiations to remain within the eurozone as Greek voters had realised that the Grexit would mean too much pain (at least in the near term) due to capital flight, a run on the banks and other troubles in returning to the drachma as currency. Over the past five months, Syriza representatives, true to their mandate, have sought to alter Greeces terms of engagement with its creditors, seeking debt relief that would allow fiscal expansionary policies to spur the economy. Yet, the troikas response has been to stonewall the proposals and instead push Greece to further the austerity measures it has pursued following the first major bailout in 2010 and another in 2012. The troikas reasoning is simple: tolerating a Greek default would amount to sending signals to other creditor-nationsabout similar leniency. Instead, the troika has merely offered a five-month extension of Greeces bailout programme with fresh funds but with persisting austerity conditions. With barely a concession to the Greek position, there remains a wide gap between the Greek peoples expectations and the EU recommendations. With Greece already having to impose capital controls and bank holidays to avoid further capital flight measures that were supposed to be taken in the event of an exit from the EU it begs the question whether the Grexit is inevitable.Q. Choose an appropriate title for the passage.a)The woes of Greeceb)Greek economic crisisc)Greece debt crisisd)Greece, the weak link in the Eurozone.Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Directions (76-80): You have a passage with five questions following.Passage IAs financial markets worldwide tumbled over concerns that Greece would default on its debt to the troika comprising the European Commission, the European Central Bank and the International Monetary Fund, the people of Greece were being presented with a Hobsons choice by its government led by the leftist party platform, Syriza. In the midst of intense negotiations with representatives of the troika over rolling over debt payments, the Syriza government sought to extend the deadline for payments in order to allow it to put the conditionalities of the troika for a bailout extension to a referendum vote. Prime Minister Alexis Tsipras has denied that this referendum, scheduled for July 5, is on whether or not to continue within the eurozone; he says it is only on the acceptance of the troikas demands. But with the troika unrelenting on the June 30 deadline for repayment of debts to the IMF, and Greece being in no position to pay, the referendum could more or less be on remaining in the eurozone. This presents a difficult choice for the people of Greece. After all, the Syriza was voted to power in January 2015 precisely on the promise of halting the programme of austerity imposed by creditors that has resulted in a drastic contraction of Greeces economy and increase in unemployment. Yet, the mandate was also for negotiations to remain within the eurozone as Greek voters had realised that the Grexit would mean too much pain (at least in the near term) due to capital flight, a run on the banks and other troubles in returning to the drachma as currency. Over the past five months, Syriza representatives, true to their mandate, have sought to alter Greeces terms of engagement with its creditors, seeking debt relief that would allow fiscal expansionary policies to spur the economy. Yet, the troikas response has been to stonewall the proposals and instead push Greece to further the austerity measures it has pursued following the first major bailout in 2010 and another in 2012. The troikas reasoning is simple: tolerating a Greek default would amount to sending signals to other creditor-nationsabout similar leniency. Instead, the troika has merely offered a five-month extension of Greeces bailout programme with fresh funds but with persisting austerity conditions. With barely a concession to the Greek position, there remains a wide gap between the Greek peoples expectations and the EU recommendations. With Greece already having to impose capital controls and bank holidays to avoid further capital flight measures that were supposed to be taken in the event of an exit from the EU it begs the question whether the Grexit is inevitable.Q. Choose an appropriate title for the passage.a)The woes of Greeceb)Greek economic crisisc)Greece debt crisisd)Greece, the weak link in the Eurozone.Correct answer is option 'A'. Can you explain this answer?, a detailed solution for Directions (76-80): You have a passage with five questions following.Passage IAs financial markets worldwide tumbled over concerns that Greece would default on its debt to the troika comprising the European Commission, the European Central Bank and the International Monetary Fund, the people of Greece were being presented with a Hobsons choice by its government led by the leftist party platform, Syriza. In the midst of intense negotiations with representatives of the troika over rolling over debt payments, the Syriza government sought to extend the deadline for payments in order to allow it to put the conditionalities of the troika for a bailout extension to a referendum vote. Prime Minister Alexis Tsipras has denied that this referendum, scheduled for July 5, is on whether or not to continue within the eurozone; he says it is only on the acceptance of the troikas demands. But with the troika unrelenting on the June 30 deadline for repayment of debts to the IMF, and Greece being in no position to pay, the referendum could more or less be on remaining in the eurozone. This presents a difficult choice for the people of Greece. After all, the Syriza was voted to power in January 2015 precisely on the promise of halting the programme of austerity imposed by creditors that has resulted in a drastic contraction of Greeces economy and increase in unemployment. Yet, the mandate was also for negotiations to remain within the eurozone as Greek voters had realised that the Grexit would mean too much pain (at least in the near term) due to capital flight, a run on the banks and other troubles in returning to the drachma as currency. Over the past five months, Syriza representatives, true to their mandate, have sought to alter Greeces terms of engagement with its creditors, seeking debt relief that would allow fiscal expansionary policies to spur the economy. Yet, the troikas response has been to stonewall the proposals and instead push Greece to further the austerity measures it has pursued following the first major bailout in 2010 and another in 2012. The troikas reasoning is simple: tolerating a Greek default would amount to sending signals to other creditor-nationsabout similar leniency. Instead, the troika has merely offered a five-month extension of Greeces bailout programme with fresh funds but with persisting austerity conditions. With barely a concession to the Greek position, there remains a wide gap between the Greek peoples expectations and the EU recommendations. With Greece already having to impose capital controls and bank holidays to avoid further capital flight measures that were supposed to be taken in the event of an exit from the EU it begs the question whether the Grexit is inevitable.Q. Choose an appropriate title for the passage.a)The woes of Greeceb)Greek economic crisisc)Greece debt crisisd)Greece, the weak link in the Eurozone.Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of Directions (76-80): You have a passage with five questions following.Passage IAs financial markets worldwide tumbled over concerns that Greece would default on its debt to the troika comprising the European Commission, the European Central Bank and the International Monetary Fund, the people of Greece were being presented with a Hobsons choice by its government led by the leftist party platform, Syriza. In the midst of intense negotiations with representatives of the troika over rolling over debt payments, the Syriza government sought to extend the deadline for payments in order to allow it to put the conditionalities of the troika for a bailout extension to a referendum vote. Prime Minister Alexis Tsipras has denied that this referendum, scheduled for July 5, is on whether or not to continue within the eurozone; he says it is only on the acceptance of the troikas demands. But with the troika unrelenting on the June 30 deadline for repayment of debts to the IMF, and Greece being in no position to pay, the referendum could more or less be on remaining in the eurozone. This presents a difficult choice for the people of Greece. After all, the Syriza was voted to power in January 2015 precisely on the promise of halting the programme of austerity imposed by creditors that has resulted in a drastic contraction of Greeces economy and increase in unemployment. Yet, the mandate was also for negotiations to remain within the eurozone as Greek voters had realised that the Grexit would mean too much pain (at least in the near term) due to capital flight, a run on the banks and other troubles in returning to the drachma as currency. Over the past five months, Syriza representatives, true to their mandate, have sought to alter Greeces terms of engagement with its creditors, seeking debt relief that would allow fiscal expansionary policies to spur the economy. Yet, the troikas response has been to stonewall the proposals and instead push Greece to further the austerity measures it has pursued following the first major bailout in 2010 and another in 2012. The troikas reasoning is simple: tolerating a Greek default would amount to sending signals to other creditor-nationsabout similar leniency. Instead, the troika has merely offered a five-month extension of Greeces bailout programme with fresh funds but with persisting austerity conditions. With barely a concession to the Greek position, there remains a wide gap between the Greek peoples expectations and the EU recommendations. With Greece already having to impose capital controls and bank holidays to avoid further capital flight measures that were supposed to be taken in the event of an exit from the EU it begs the question whether the Grexit is inevitable.Q. Choose an appropriate title for the passage.a)The woes of Greeceb)Greek economic crisisc)Greece debt crisisd)Greece, the weak link in the Eurozone.Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Directions (76-80): You have a passage with five questions following.Passage IAs financial markets worldwide tumbled over concerns that Greece would default on its debt to the troika comprising the European Commission, the European Central Bank and the International Monetary Fund, the people of Greece were being presented with a Hobsons choice by its government led by the leftist party platform, Syriza. In the midst of intense negotiations with representatives of the troika over rolling over debt payments, the Syriza government sought to extend the deadline for payments in order to allow it to put the conditionalities of the troika for a bailout extension to a referendum vote. Prime Minister Alexis Tsipras has denied that this referendum, scheduled for July 5, is on whether or not to continue within the eurozone; he says it is only on the acceptance of the troikas demands. But with the troika unrelenting on the June 30 deadline for repayment of debts to the IMF, and Greece being in no position to pay, the referendum could more or less be on remaining in the eurozone. This presents a difficult choice for the people of Greece. After all, the Syriza was voted to power in January 2015 precisely on the promise of halting the programme of austerity imposed by creditors that has resulted in a drastic contraction of Greeces economy and increase in unemployment. Yet, the mandate was also for negotiations to remain within the eurozone as Greek voters had realised that the Grexit would mean too much pain (at least in the near term) due to capital flight, a run on the banks and other troubles in returning to the drachma as currency. Over the past five months, Syriza representatives, true to their mandate, have sought to alter Greeces terms of engagement with its creditors, seeking debt relief that would allow fiscal expansionary policies to spur the economy. Yet, the troikas response has been to stonewall the proposals and instead push Greece to further the austerity measures it has pursued following the first major bailout in 2010 and another in 2012. The troikas reasoning is simple: tolerating a Greek default would amount to sending signals to other creditor-nationsabout similar leniency. Instead, the troika has merely offered a five-month extension of Greeces bailout programme with fresh funds but with persisting austerity conditions. With barely a concession to the Greek position, there remains a wide gap between the Greek peoples expectations and the EU recommendations. With Greece already having to impose capital controls and bank holidays to avoid further capital flight measures that were supposed to be taken in the event of an exit from the EU it begs the question whether the Grexit is inevitable.Q. Choose an appropriate title for the passage.a)The woes of Greeceb)Greek economic crisisc)Greece debt crisisd)Greece, the weak link in the Eurozone.Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice SSC tests.
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