Advanced Search
MyIDEAS: Login to save this article or follow this journal

Greek Economic Crisis


Author Info

  • Niculescu Oana-Marilena

    (Academy of Economic Studies, Bucharest)

Registered author(s):


    The purpose of this paper is to analyze the most severe crisis of a eurozone country. After years of overspending, cheap loans and failure of financial reforms, the deficit increased in Greece to 12,7% of GDP and its rating was downgraded to the lowest in the eurozone. As an important part of the revenue increase proposed by the Greek Stability and Growth Programme proved to be impossible to materialize, the rescue plan approved by the European Union/International Monetary Fund was the only viable solution in order to avoid bankruptcy. The results of the Greek crisis spread to other eurozone countries like Ireland, Portugal or Spain. Greek economic crisis reflects the existence of a non-uniform Monetary Union, without a central fiscal authority able to correct internal disparities. The difference between north and south within the eurozone seems to be deeper than ever and might compromise even the survival of euro.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL:
    Download Restriction: no

    Bibliographic Info

    Article provided by Ovidius University of Constantza, Faculty of Economic Sciences in its journal strategy, product policy, entrepreneur, touristic products, services.

    Volume (Year): XI (2011)
    Issue (Month): 1 (May)
    Pages: 1526-1531

    as in new window
    Handle: RePEc:ovi:oviste:v:11:y:2011:i:1:p:1526-1531

    Contact details of provider:
    Web page:
    More information through EDIRC

    Related research

    Keywords: crisis; eurozone; rescue plan; PIIGS; Monetary Union;

    Find related papers by JEL classification:


    No references listed on IDEAS
    You can help add them by filling out this form.



    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.


    Access and download statistics


    When requesting a correction, please mention this item's handle: RePEc:ovi:oviste:v:11:y:2011:i:1:p:1526-1531. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jeflea Victor).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.