The Experience of Greece: Delayed Adjustment

Loukas Tsoukalis

Chapter 10 in Shaping the New Europe, 2004, pp 265-272 from Palgrave Macmillan

Abstract: Abstract Greece’s accession to the EC in 1981, marked the end of a period of almost 20 years in which relations with the EC-6 and later the EC-9 were governed by the most comprehensive Association Agreement ever signed by the EC with a third country (Tsoukalis, 1981). The period of membership can be divided into two distinct subperiods: the first one ending in the late 1980s or early 1990s (depending on the criterion used), and the second from then to the present day. The first subperiod was characterized by a significant deterioration of Greece’s economic performance, which also coincided with difficult relations with the rest of the EC/EU (Kazakos and Ioakimidis, 1994; Featherstone and Ifantis, 1996; Allison and Nicolaidis, 1997). During those years Greece was often portrayed as an awkward partner and an example to avoid.

Keywords: Budget Deficit; Trade Deficit; Fixed Capital Formation; Association Agreement; Greek Export (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-52369-2_11

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DOI: 10.1057/9780230523692_11

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