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Greece – in the centre of sovereign debt crisis. Consequences on the evolution of Euro Zone economies

Author

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  • Cristina Balgar
  • Andreea Dragoi

Abstract

The purpose of this paper is to present the evolution of economic and financial crisis in Greece. We will examine the effect of Hellenic crisis on deepening the sovereign debt crisis in Euro zone and the possible consequences across the entire European economy. The research also aims to present possible scenarios of evolution for the Greek crisis and their potential consequences for the stability and economic growth perspectives in European Union. Our research concludes by highlighting the consequences of economic measures imposed to Greece by the European Union for the consolidation and fiscal stabilization of Hellenic economy.

Suggested Citation

  • Cristina Balgar & Andreea Dragoi, 2011. "Greece – in the centre of sovereign debt crisis. Consequences on the evolution of Euro Zone economies," Revista de Economie Mondiala / The Journal of Global Economics, Institute for World Economy, Romanian Academy, vol. 3(4), December.
  • Handle: RePEc:iem:journl:v:3:y:2011:i:4:id:2822000008752035
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    More about this item

    Keywords

    economic crisis; budgetary stability; Euro zone; sovereign debt;
    All these keywords.

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • G - Financial Economics

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