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The Responses of Greece and Ireland to the Crisis

2007 yılı ikinci yarısında ABD mortagage piyasalarında başlayan finansal kriz, 2008 Eylül ayında Lehman Brothers'ın iflası ile birlikte küresel bir nitelik kazanmıştır. Krizden özellikle Euro bölgesindeki çevre ülkeler etkilenmiştir. Çünkü küresel kriz başta Yunanistan ve İrlanda olmak üzere bu ülkelerde ülke borç krizine dönüşmüştür. Ancak küresel krizin Yunanistan ve İrlanda'da bu kadar derin hissedilmesinin nedeni her iki ülkenin de kendine has faktörlerden kaynaklanan sorunları içerisinde barındırmasıdır.Bu çalışmada Yunanistan ve İrlanda'nın analiz edilmesinin amacı, Avrupa Birliği içerisinde 2008 küresel finans krizinden en çok etkilenen iki ülke olmalarıdır. Ancak her iki ülkede de Euro'ya geçişin ardından krize kadar olan dönemde yüksek büyüme oranları elde edilmiştir. Elde edilen bu yüksek büyüme oranlarına rağmen neden bu ekonomiler küresel finansal krizle birlikte büyük sorunlar yaşamıştır? Krizden çıkmak için her iki ülkede AB/IMF fonlarına başvurmuştur. Ancak krizden çıkış süreçleri farklı olmuştur. Bunun nedenleri nelerdir? Euro'ya geçiş bu ülkeleri küresel krize daha duyarlı hale mi getirmiştir yoksa Euro içerisinde olmak bu ülkelerin krizden çıkış süreçlerini mi kolaylaştırmıştır? Çalışmada bu sorulara cevap aranmaya çalışılacaktır.

Yunanistan ve İrlanda'nın Krize Tepkisi

Starting in the U.S as a subprime mortgage crisis in the second half of 2007, the financial crisis gained a global character when Lehman Brothers went bankrupt in September 2008. Peripheral countries in the Eurozone especially were affected by the crisis since the global crisis turned into a sovereign debt crisis in those countries, particularly in Greece and Ireland. However, the reason why the crisis was felt so deeply in Greece and Ireland is that both countries already had problems resulting from country-specific factors.The reason for analyzing Greece and Ireland in this study is that they are the two most severely affected countries in the European Union by the financial crisis of 2008. However, during the period from their Euro accession to the outbreak of the crisis, both of these countries had high growth rates. Despite the high growth rates achieved, why did these two economies experience big problems because of the global financial crisis? Both applied for EU/IMF funds in order to overcome the crisis but their processes of overcoming the crisis were different. What are the underlying reasons for this? Did adoption of the Euro make these countries more vulnerable to the global crisis or did being within the Eurozone facilitate their process of overcoming the crisis? These are the main questions to be answered in this study.

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