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Crisis, Threats and Ways Out for the Greek Economy

Author

Listed:
  • 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.

Suggested Citation

  • Nicos Christodoulakis, 2010. "Crisis, Threats and Ways Out for the Greek Economy," Cyprus Economic Policy Review, University of Cyprus, Economics Research Centre, vol. 4(1), pages 89-96, June.
  • Handle: RePEc:erc:cypepr:v:4:y:2010:i:1:p:89-96
    as

    Download full text from publisher

    File URL: http://www.ucy.ac.cy/erc/documents/Christodoulakis_Full_Text.010.pdf
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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 18:00:00
    2. Greexit: La salida de Grecia de la UE
      by in Tiempo Económico on 2012-05-20 21:31:18
    3. Il salario minimo nella Grecia in crisi
      by Lavoce in Il Fatto Quotidiano on 2012-02-11 17:28:15

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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    Cited by:

    1. 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.
    2. Christodoulakis, Nicos & Leventi, Chrysa & Matsaganis, Manos & Monastiriotis, Vassilis, 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.
    3. 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.
    4. Daly, Hounaida & Smida, Mounir, 2014. "Fiscal Theory of Price Level," MPRA Paper 60142, University Library of Munich, Germany.
    5. Daly, Hounaida & Smida, Mounir, 2013. "La coordination des politiques monétaire et budgétaire: Aperçu théorique
      [Coordination of monetary and fiscal policies: Theoretical Overview]
      ," MPRA Paper 48020, University Library of Munich, Germany.

    More about this item

    Keywords

    Debt; public deficits; debt crisis; Greece;

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