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Media Literacy - Essay Example

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Dynamics of Global Communication: Greece, Creditors Begin Talks on New Bailout Date Story Significance The article, “Greece, Creditors Begin Talks on New Bailout” is an important story, especially to the investors in the country, policy planners and multinational corporations in the country…
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Media Literacy
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Download file to see previous pages Greece’s economy suffered huge debts, subsequently making its budget inadequate to finance its operations. To solve the problem, Greece’s government applied a number of interventions, including a consideration to tax all the deposits in the country’s financial institutions. However, the most effective intervention of all the proposals made was the country’s financial bill out by different European countries and financial institutions. As the article reports, with the end of the financial crisis, Greece has the potential of going back to original status, or even better. Addressed audience in this artic le are the country’s policy makers, the government, especially in drafting the expenditure budgets, the investors (both operating or eyeing the country), multinational companies in the country or those hoping to take advantage of the end of the crisis and finally other countries that overspend in their budgets, relying heavily on borrowings. The significant information contained in this story is essential for the world, especially. As different countries develop their own policies, they are obliged to put into consideration the effects of economic recession. Additionally, countries strategically can plan on how to avoid a recession. If unavoidable, designing measures to avoid any country getting into the point Greece were in would help the country’s economy. Greece economy is a memorable event, not only in the European region but globally also, as no other country has ever gone through a debt crisis bill out. The media has covered the crisis since the start, progression to its present status. This is the biggest connection of the story to other stories related on the crisis. The story sensitizes the world on the best ways of financing an economy and the options available whenever faced by a crisis. Sources The article reports on the decisions arrived at after a meeting convened to strategize bon how to end the Greece financial crisis decided on a third bill out. The story quotes different government officials and foreign dignitaries present in the meeting. Particularly, the story quotes only four of the people in the meeting. The quoted individuals are the senior Finance Ministry official, a senior government official, Greek Finance Minister Yannis Stournaras and a former government official (Bouras, Granitsas & Stevis, 2013). These individuals represent the political sector and the business community. Despite the meeting having taken place between various individuals, the story quotes just a few. Among people whose quoted should have significantly featured in the article are the European central bank officials, the international monetary fund officials and senior finance ministry officials. Logically, their view would have played a considerable role in this story. Evidence There are different sources of evidence used in the story. The authors draw part of the information from Greece’s budget and financial reports, for instance the 2013 budget. The country’s growth data also provides crucial evidence used in the story (Bouras, Granitsas & Stevis, 2013). The international monetary fund also indirectly provides evidence that backs assumptions in the story, especially on the amount of funds already injected in the economy and its impact in ending the crisis. Others, as sources are not clear come from the quoted individu ...Download file to see next pagesRead More
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