JON COOMB

EVER since the 2008 global financial crash, Greece has teetered on the brink of complete economic collapse.

When Alexis Tsipras was elected as Greek Prime Minister in January 2015, many critics argued that Tsipras and his party Syriza, would lead Greece out of the Eurozone and refuse any continued EU imposed austerity measures.

When on July 5 2015 the Greek public decided to reject the IMF’s and EU’s bailout conditions, a Greek exit from the Eurozone seemed an impending reality.

The ongoing political discussions and pledges of co-operation between Tsipras and Russian President Vladimir Putin, have further increased fears within the hearts of many EU leaders that Greece is turning its back on the EU.

Youth unemployment in Greece currently stands at a staggering 53.2 per cent.

The severe economic conditions have led to a vast range of detrimental social consequences, such as a 45 per cent sharp increase in suicide rates.

Continued harsh austerity measures is a primary factor in Greek discontentment with the Eurozone; Tsipras has battled with EU leaders and the IMF to secure vital bailouts with conditions that are more favourable to the Greek public.

Finally this week it has been announced that the Greek government has agreed a third bailout deal with the EU and IMF.

Greece will receive around €85 billion to keep the country in the Eurozone and avert the threat of bankruptcy.

Various de-regulation and privatisation measures are included in the deal in an aim to bring prosperity to Greek markets.

However, this third bailout deal signifies the continuation of harsh austerity measures for the people of Greece, in an attempt to achieve future economic success.

For the time being Greece will continue to be dependent on external loans and will have little control over its own economic policies.