Posted: August 17th, 2015
Analytics (UK) ltd is giving the following presentation to clients:
Greece: On considering the possibility of leaving the euro and reverting back to the drachma.
You have been asked by the Managing Director of Analytics to address the following issues:
a. Evaluate the effect on the Balance of Payments of Greece if it decides to leave the euro (see note 3 below). (RKC Unit 1 slides 11 to 18 )
b. Consider the application of exchange rate models to the value of the drachma following an exit from the euro. (RKC Unit 2 slides 22 to 34)
c. Consider how a multinational might use derivatives to manage the risk of leaving the euro. (RKC unit 3 slides 3 to 35)
Unfortunately there is no access to the internet. You have been given the data below by the Managing Director and have been told to make what use of it that you can.
1. The wordcount is 3,000. A 10% margin (300 words) is allowed to cover for references, titles etc and anything that might not be considered content. If you are over this absolute limit of 3,300 then reading of the main text will stop short by the overage. This typically means that the conclusion of the final element will not be read and marks deducted for not having a conclusion within the wordcount.
2. You are not required to have any detailed knowledge of the Greek economy other than it being a developed economy.
3. For part (a) make use of the data below, other data will not be assessed. You do not have to use all the data.
4. Remember that the data in part (a) only refers to the current account, the financial account is also relevant, to any discussion – see your notes.
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