 GreeceConjunctura economiei mondiale / World Economic Studies, 2012 Abstract: Since 2009, when the international crisis effects have been most strongly felt in the Eurozone, Greece's economic situation has deteriorated steadily. This development was due to the worsening of its two major structural weaknesses: general government balance deficit, well above the limit set by the Stability and Growth Pact, and the huge public debt. Our analysis will reveal the main causes for the prolonged recession, showing that among the most important factors are the strong budgetary and fiscal imbalances. The conclusions of our analysis will show that, according to the main international forecasts, the 2013 outlook for the Greek economy is not an "optimistic" one. Although it has already received substantial financial aid (from the International Monetary Fund, European Central Bank and European Commission – the so called “Troika†) and initiated new austerity measures, Greece is still far from economic recovery, some predictions taking into account the possibility of an Eurozone exist (the so called Grexit scenario). Keywords: Greece economy; recession; general government balance; public debt; Grexit (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:iem:conjun:y:2012:id:2822000009565003 Access Statistics for this article Conjunctura economiei mondiale / World Economic Studies is currently edited by Simona Moagar Poladian, PhD More articles in Conjunctura economiei mondiale / World Economic Studies from Institute for World Economy, Romanian Academy Contact information at EDIRC. |
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