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Crisis, Threats and Ways Out for the Greek Economy

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Author Info

  • Nicos Christodoulakis

    ()
    (Athens University of Economics and Business)

Abstract

The article describes how the unprecedented public and current account deficits that occurred in Greece over the last few years led to the current debt crisis in the aftermath of the global financial crisis of 2008. Some policy directions for achieving fiscal stability and restoring growth and competitiveness in the Greek economy are also discussed. The fact that the twin deficits became unmanageable only recently suggests that the underlying factors of the debt process can be feasibly adjusted back to sustainable levels, so that default or debt restructuring options are completely avoided.

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File URL: http://www.ucy.ac.cy/erc/documents/Christodoulakis_Full_Text.010.pdf
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Bibliographic Info

Article provided by University of Cyprus, Economics Research Centre in its journal Cyprus Economic Policy Review.

Volume (Year): 4 (2010)
Issue (Month): 1 (June)
Pages: 89-96

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Handle: RePEc:erc:cypepr:v:4:y:2010:i:1:p:89-96

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Related research

Keywords: Debt; public deficits; debt crisis; Greece;

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Citations

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. IL SALARIO MINIMO NELLA GRECIA IN CRISI
    by Manos Matsaganis in La Voce on 2012-02-10 12:00:00
  2. Greexit: La salida de Grecia de la UE
    by in Tiempo Económico on 2012-05-20 16:31:18
  3. Il salario minimo nella Grecia in crisi
    by Lavoce in Il Fatto Quotidiano on 2012-02-11 11:28:15
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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Cited by:
  1. Daly, Hounaida & Smida, Mounir, 2013. "La coordination des politiques monétaire et budgétaire: Aperçu théorique
    [Coordination of monetary and fiscal policies: Theoretical Overview]
    ," MPRA Paper 48066, University Library of Munich, Germany.
  2. Kasimati, Evangelia & Veraros, Nikolaos, 2013. "Should Greece adopt a dual-currency regime to resolve its economic crisis?," Journal of Policy Modeling, Elsevier, vol. 35(4), pages 588-600.
  3. Nicos Christodoulakis & Chrysa Leventi & Manos Matsaganis & Vassilis Monastiriotis, 2011. "The Greek crisis in focus: austerity, recession and paths to recovery," LSE Research Online Documents on Economics 38380, London School of Economics and Political Science, LSE Library.
  4. Daly, Hounaida & Smida, Mounir, 2013. "Interaction entre politique monétaire et politique budgétaire:Cas de la Grèce
    [Fiscal and Monetary Policy Interactions : The Greece Case]
    ," MPRA Paper 45931, University Library of Munich, Germany.

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