Mario DraghiMario Draghi (ˈmaːrjo ˈdraːɡi; born 3 September 1947) is an Italian economist, academic, banker, and civil servant who served as prime minister of Italy from 13 February 2021 to 22 October 2022. Prior to his appointment as prime minister, he served as President of the European Central Bank (ECB) between 2011 and 2019. Draghi was also Chair of the Financial Stability Board between 2009 and 2011, and Governor of the Bank of Italy between 2006 and 2011. After a lengthy career as an academic economist in Italy, Draghi worked for the World Bank in Washington, D.
Greek juntaThe Greek junta or Regime of the Colonels was a right-wing military dictatorship that ruled Greece from 1967 to 1974. On 21 April 1967, a group of colonels overthrew the caretaker government a month before scheduled elections which Georgios Papandreou's Centre Union was favoured to win. The dictatorship was characterised by policies such as anti-communism, restrictions on civil liberties, and the imprisonment, torture, and exile of political opponents.
President of GreeceThe president of Greece, officially the President of the Hellenic Republic (Próedros tis Ellinikís Dimokratías), commonly referred to in Greek as the President of the Republic (Próedros tis Dimokratías), is the head of state of Greece. The president is elected by the Hellenic Parliament; the role has been mainly ceremonial since the 1986 constitutional reform. The office was formally established by the Constitution of Greece in 1975, but has antecedents in the Second Hellenic Republic of 1924–1935 and the Greek junta in 1973–1974 which predated the transition to the current Third Hellenic Republic.
2007–2008 financial crisisThe 2007–2008 financial crisis, or Global Financial Crisis (GFC), was a severe worldwide economic crisis that occurred in the early 21st century. It was the most serious financial crisis since the Great Depression (1929). Predatory lending targeting low-income homebuyers, excessive risk-taking by global financial institutions, and the bursting of the United States housing bubble culminated in a "perfect storm". Mortgage-backed securities (MBS) tied to American real estate, as well as a vast web of derivatives linked to those MBS, collapsed in value.
SyrizaInfobox political party | name = Coalition of the Radical Left – Progressive Alliance | native_name = Συνασπισμός Ριζοσπαστικής Αριστεράς – Προοδευτική Συμμαχία SinaspismósRizospastikís Aristerás – Proodeftikí Simachía | native_name_lang = el | logo = SYRIZA logo 2020.svg | logo_size = 226px | flag = Flag of the SYRIZA.
International Monetary FundThe International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
Communist Party of GreeceThe Communist Party of Greece (Κομμουνιστικό Κόμμα Ελλάδας, Kommounistikó Kómma Elládas, KKE) is a Marxist–Leninist political party in Greece. It was founded in 1918 as the Socialist Labour Party of Greece and adopted its current name in November 1924. It is the oldest political party in modern Greek politics. The party was banned in 1936, but played a significant role in the Greek resistance and the Greek Civil War, and its membership peaked in the mid-1940s. Legalization of the KKE was restored following the fall of the Greek junta.
Currency crisisA currency crisis is a type of financial crisis, and is often associated with a real economic crisis. A currency crisis raises the probability of a banking crisis or a default crisis. During a currency crisis the value of foreign denominated debt will rise drastically relative to the declining value of the home currency. Generally doubt exists as to whether a country's central bank has sufficient foreign exchange reserves to maintain the country's fixed exchange rate, if it has any.
Default (finance)In finance, default is failure to meet the legal obligations (or conditions) of a loan, for example when a home buyer fails to make a mortgage payment, or when a corporation or government fails to pay a bond which has reached maturity. A national or sovereign default is the failure or refusal of a government to repay its national debt. The biggest private default in history is Lehman Brothers, with over 600billionwhenitfiledforbankruptcyin2008(equivalenttoover billion in ). Member state of the European UnionThe European Union (EU) is a political and economic union of 27 member states that are party to the EU's founding treaties, and thereby subject to the privileges and obligations of membership. They have agreed by the treaties to share their own sovereignty through the institutions of the European Union in certain aspects of government. State governments must agree unanimously in the Council for the union to adopt some policies; for others, collective decisions are made by qualified majority voting.
