1、CRS InsightsCrisis in Greece: Political ImplicationsPaul Belkin, Analyst in European Affairs (pbelkincrs.loc.gov, 7-0220)July 23, 2015 (IN10303)OverviewWhat began as a debt crisis in Greece in late 2009 has evolved into a broader political crisis in Europe that many analysts believe could result in
2、the most significant setback in over 60 years of European integration. Since 2009, Greece, its fellow European Union (EU) members, and the International Monetary Fund (IMF) have taken unprecedented steps in an effort to prevent a Greek default and ensure that Greece remains a member of the EUs 19-me
3、mber common currency area, the Eurozone. Key European leaders have consistently reiterated German Chancellor Angela Merkels conviction that if the euro fails, Europe fails, reflecting their belief that possible Grexit from the Eurozone, the EUs flagship project, could seriously undermine the integri
4、ty of the Eurozone and even the EU itself.Nonetheless, a series of events in late June/early Julyincluding Greeces failure to make a scheduled payment to the IMF and the enactment of capital controls on Greek banksled many analysts to declare that a possible Grexit from the Eurozone was increasingly
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