Assignment #2 Essay

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Assignment #2

___________
Gen Bus 101
10/9/2013

Cheryl A. Larabee & Robert Morgan,

In the article “Greece Sets Up Its Own EBay To Unload Property,” it talks about how Greece is striving to raise as much as 50 Million Euros a year from online property auctions in order to help pay down its debt. After the European Commission, European Central Bank and The International Monetary Fund, the three main lenders of money to Greece, all bailed out on the country; the government pledged to sell assets in order to raise themselves out of a great amount of debt. With Greece in its sixth year of recession and unemployment at a record of 27.9 percent, “its not going to be easy to generate serious revenue, given the illiquid nature of real estate investments and the legal obstacles they face in Greece” says Maria Petrakis.

Finance Finance is the direct study of money, how it’s made, how it’s lost and how it’s managed. This term that we have discussed these past couple of weeks in class is a direct parallel to this article. In this particular situation Greece is heavy in debt and is looking for alternative ways to pay it off since their man funders bailed on them. With six years of recession and a record high unemployment rate the government looks to selling real estate through online auctions.

Monetary Policy In this particular article they mention how the International Monetary Policy wouldn’t fund Greece anymore so although it’s not the same as our monetary policy we have in the United States, I’m assuming it’s the same concept. Monetary

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