The Crisis and the Setting of the Recovery

Panagiotis E. Petrakis, Pantelis Kostis and Dionysis G. Valsamis

Chapter 1 in The Rebirth of the Greek Labor Market, 2014, pp 3-18 from Palgrave Macmillan

Abstract: Abstract The entry of Greece into the euro area created a challenge for the nation’s future economic course. On the one hand, accession to a single monetary union allowed Greece to benefit from a strong currency, but on the other, the nation faced associated adjustment costs. However, the problems of the modern Greek economy since its establishment have hindered the effective exploitation of the benefits. Simultaneously, the costs and problems arising from participation in this union have grown.

Keywords: Euro Area; European Central Bank; Phillips Curve; Current Account Deficit; Social Security Contribution (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-46082-0_1

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DOI: 10.1057/9781137460820_1

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