Rebuilding eurozone's ground zero: a review of the Greek economic crisis

Nikos Chrysoloras

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: Despite widespread criticism on its performance, all indicators demonstrate that Greece has achieved impressive fiscal and structural adjustment since its de facto bankruptcy, in May 2010. However, serious implementation problems, the pace and sheer volume of the contractionary measures adopted over the last years, as well as the fact that the burden was unevenly shared, may lead to a social and political crisis, which could threaten the very survival of democracy in the country. Such catastrophe would destabilize the Balkan region and the Eurozone, while it would deal a huge blow to the European unification project. This paper examines the reasons and events that led to Greece's economic implosion, describes the current predicaments of the country, and - most importantly - explores suggestions for rebuilding the Greek economy on more solid foundations, without tearing society apart in the process.

JEL-codes: N0 (search for similar items in EconPapers)
Pages: 42 pages
Date: 2013-01
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (16)

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