The fixed exchange rate does not leave much room for Greece to deal with its debt and budget deficit.
I summarized the causes of the Greek tragedy in a previous blog, the results are captured by Yahoo's and MSNBC's slideshows.
1) Use the TB/Y diagram to show how Greece got into the crisis. Refer to specific actions of the Greek government in the past decade
2) Use another TB/Y diagram to show the necessary Greek reforms to get out of the crisis.