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Structural Policies to Unwind the Greek Fiscal Tangle

In: Issues in Contemporary Economics

Author

Listed:
  • George C. Bitros

    (Athens University of Economics and Business)

Abstract

For over a decade now, and particularly since 1980, the Greek economy has continued to defy the imperatives which derive from the Country’s choices in international, political and economic relations. More specifically, whereas, during the 1980s, developed nations in general, and those in the European Community (EC) in particular, tamed inflation, reduced or at least checked unemployment, balanced with relative success the accounts of their payments abroad, and achieved satisfactory rates of economic growth, Greece regressed in these most vital respects. Inflation in Greece, relative to inflation in these other countries, increased markedly, unemployment and the balance of payments worsened significantly, and the process of development came to a standstill. As a result, the gap in material welfare which separates Greece from the developed nations of the EC widened. In other words, the country lost ground at a time when the international economy flourished.

Suggested Citation

  • George C. Bitros, 1992. "Structural Policies to Unwind the Greek Fiscal Tangle," International Economic Association Series, in: Thanos S. Skouras (ed.), Issues in Contemporary Economics, chapter 3, pages 23-29, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-11955-4_3
    DOI: 10.1007/978-1-349-11955-4_3
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    Cited by:

    1. Bitros, George C., 2012. "From Riches to Rags or What Went Wrong in Greece," MPRA Paper 43504, University Library of Munich, Germany.
    2. Bitros, George C., 2013. "European Union failures in Greece and some possible explanations," MPRA Paper 45017, University Library of Munich, Germany.

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