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Greece Defaults 2015-07-21 오후 10:27:00

Greece had a debt to International Creditors like EU, ECB and IMF which costs three hundred fifteen billion five hundred million€. Moreover the date of redemption, July 20th was upcoming. It became a big issue whether Greece will exit Eurozone or not.
According to ABC News, some of the reasons why Greece got into its economic crisis are inefficient pension system and benefits, early retirement, high unemployment and work culture issues, and tax evasion.
Fortunately, Greece government paid back four billion two hundred million€ of debt to ECB and two billion€ to IMF by receiving short fund support from creditors on July 20th. Greece is now out of default technically.
Still, Greece real economy was quickly contracted since May. Also deflation affect not only economic activities but also high unemployment rate (25.6%) and a minus GDP growth rate according to the Forbs.

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