this is a case study file. read and answer the questions given the word limit is 1250.thank you

Spotlight Greece is located in southern Europe, positioned geograph The country has started to show some limited signs of ically between the Aegean and Mediterranean Seas, Albania, progress and has recently agreed to further economic and Turkey. The country's land mass is slightly smaller than reforms in return for liquidity from its lenders. Greece is that of Alabama. Major natural resources include lignite, not out of the woods, however. The bailout money has petroleum, iron ore, bauxite, lead, zinc, nickel, magnesite, largely gone to the country's lenders and has not yet been marble, salt, and hydro-power potential.72 able to support the restructuring of the economy Greece has a population of 10.78 million people, with Athens, the capital, home to 3 million people. Population You Be the International Management growth has stabilized at zero in recent years. Greece is a Consultant fairly homogeneous country, with close to 95 percent of the population with Greek ethnicity. Nearly all in the In 2015, Greece received its third bailout in five years. country practice the Greek Orthodox religion. With a Relations between Greece and its creditors remain strained median age of 44 years, Greece has an older population and contentious. On several occasions, Greece has threat- than most countries in the world. Approximately 34 per- ened to default on its loans and has even contemplated cent of the population is 55 years or older. In recent years, exiting the European Union. The 2015 bailout allowed the country has struggled economically, leading to the creditors to demand harsh austerity programs and require third highest unemployment rate in the world." deep economic and structural reforms. These measures Greece's GDP is estimated at US$238 billion. After included raising the retirement age, cutting pensions, lib- years of negative growth, and declines of 9.1 percent in eralizing the energy market, opening up protected profes- 2011 and 7.3 percent in 2012, the country's GDP finally sions, enlarging a property tax that Greeks already despise, grew in 2014 by 0.7 percent. GDP per capita in Greece and moving ahead with a program to sell state-owned is estimated at $26,000. Greece has a capitalist economy, enterprises and other assets." but the public sector accounts for approximately 40 per- cent of GDP. 74 Questions Greece was significantly impacted by the financial cri- 1. If you are a consultant for a business looking to sis of 2008. Greece's poor financial management of the expand in Europe, is Greece even an option? country's budget and its failure to report massive deficits 2. Do the facts that its population is comprised largely in a timely fashion to its borrowers amplified the impact of government workers, that the citizens were of the crisis, causing the economy to spiral downward. As largely in favor of defaulting on its national debt, a consequence, Greece was no longer able to borrow in and that the country nearly left the European Union global markets. Ultimately, Greece was required to take a constitute a deal breaker? US$316 billion bailout from the European Union. In 3. If the government does, in fact, implement the return for the bailout, the Greek government was required agreed-upon austerity measures, would that be a to implement dramatic spending cuts and tax increases to sign that the country is on the right track? reduce its budget deficits. In total, aid from the European 4. What other concerns would you have about entering Union has amounted to approximately 3 percent of the the Greek market? country's GDP.75