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Greece in the Eurozone: An Evaluation of the First Two Decades

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  • Papanikos, Gregory T.

Abstract

On the 31st of December 2021, the euro celebrated its two decades in circulation. Initially, twelve countries adopted the euro as their new national currency, Greece being one of them. Starting in 2020, euro is the official currency of nineteen European Union countries. This paper aims to examine three issues. Firstly, the paper investigates Greek people’s perception about the euro, using data from the recent issue of the Eurobarometer (December 2021). Secondly, the economic performance of Greece is briefly examined by comparing the Greek Gross Domestic Product (GDP) two decades before and two decades after the introduction of euro. Finally, the Greek participation to the eurozone has been a controversial, political issue. The political developments in Greece during the first two decades of the euro are also studied, emphasizing the dramatic political events after the double elections of 2012. The period of the two decades ends with the detrimental impact of COVID-19. This issue is also mentioned by reviewing some recent publications.

Suggested Citation

  • Papanikos, Gregory T., 2022. "Greece in the Eurozone: An Evaluation of the First Two Decades," MPRA Paper 111900, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:111900
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    References listed on IDEAS

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    1. Papadopoulos, Athanasios P. & Papanikos, Gregory T., 2002. "Exchange rate regimes and the linkage between money and output in Greece," Journal of Policy Modeling, Elsevier, vol. 24(2), pages 103-117, May.
    2. Ioannis N. Kallianiotis, 2018. "How Efficient is the Foreign Exchange Market?," Athens Journal of Business & Economics, Athens Institute for Education and Research (ATINER), vol. 4(3), pages 293-326, July.
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    4. Carlo Klein, 2021. "The Never-Ending Quest for the European Fiscal Policy’s Objectives: Stability vs. Convergence or Stability and Convergence?," Athens Journal of Business & Economics, Athens Institute for Education and Research (ATINER), vol. 7(1), pages 41-66, January.
    5. Constantin Colonescu, 2017. "Macroeconomic Effects of the European Monetary Union: A Counterfactual Analysis," Athens Journal of Business & Economics, Athens Institute for Education and Research (ATINER), vol. 3(2), pages 171-186, April.
    6. Athanasios P. Papadopoulos & Gregory T. Papanikos, 2005. "The determinants of vinegrowers employment and policy implications: the case of a Greek island," Agricultural Economics, International Association of Agricultural Economists, vol. 32(1), pages 61-72, January.
    7. Arthur Korus, 2019. "Spillover Effects from the ECB's Unconventional Monetary Policies: The Case of Denmark, Norway and Sweden," Athens Journal of Business & Economics, Athens Institute for Education and Research (ATINER), vol. 5(1), pages 53-78, January.
    8. Leo Michelis & Athanasios Papadopoulos & Gregory Papanikos, 2004. "Regional convergence in Greece in the 1980s: an econometric investigation," Applied Economics, Taylor & Francis Journals, vol. 36(8), pages 881-888.
    9. Leonida Correia & Daniela Carvalho, 2016. "Cyclical Dynamics of Unemployment: Portugal versus the Euro Area," Athens Journal of Business & Economics, Athens Institute for Education and Research (ATINER), vol. 2(2), pages 149-166, April.
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    More about this item

    Keywords

    Eurozone; Greece; GDP; per capita GDP; Eurobarometer; euro; elections; politics;
    All these keywords.

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O5 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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