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Describe a recent global event. What implications might this development have for the Finance Industry? (300 words maximum)*

The Greek debt crisis is a recent global event that has had significant implications for the Finance Industry. Since it began in 2010, this crisis has affected the Finance Industry in more ways than one. Firstly, as part of the Eurozone, events in Greece are inextricably linked to the other countries in the Eurozone. As Greece has continually defaulted on their debt payments, this inevitably causes a lack of confidence in investors. True enough, many international banks and foreign investors have sold their Greek bonds and other holdings so as not to remain vulnerable to the the events in Greece. Conversely, some private investors had plowed back into Greek bonds in the hope that events would take a turn for the better, although this decision proved to be idealistic at best.

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