The article addresses the economic, social and political dimensions of the Greek work-welfare nexus in the context of the recent financial crisis. Explaining the main social protection and activation measures before and during the crisis (a reduction in salaries and in the purchasing power of employees partnered with unemployment benefits, contribution subsidies for employers, training and work-practice vouchers, and fixed-term quasi-employment in community services), analysis is offered of the impacts of these. The article concludes that employment measures in Greece are not only residual and inadequate to meet the needs of the unemployed but have not curbed rising unemployment rates.

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The global political economy is in flux as a series of cumulative crises impacts its organization and governance. The IPE series has tracked its development in both analysis and structure over the last three decades. It has always had a concentration on the global South. Now the South increasingly challenges the North as the centre of development, also reflected in a growing number of submissions and publications on indebted Eurozone economies in Southern Europe.An indispensable resource for scholars and researchers, the series examines a variety of capitalisms and connections by focusing on emerging economies, companies and sectors, debates and policies. It informs diverse policy communities as the established trans-Atlantic North declines and 'the rest', especially the BRICS, rise.

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