Greece and the Euro: The chronicle of an expected collapse

Kotios, Angelos; Pavlidis, Georgios; Galanos, George

doi:10.1007/s10272-011-0390-7

Cited by 15 publications

(10 citation statements)

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“…Greek economy and its production model. Greece's low competitiveness, the large and inefficient public sector, the awkward business model, the discouraging investment environment, the complicated and repelling legal framework, the perplexing and binding labor legal framework, and the distortions in financial and services markets, soundly surfaced [18] [19] [20] [21]. A clear indication of the structural problems of the Greek economy was the close link between fiscal deficit and the current account deficit, a phenomenon which was extremely intense during all previous decade, with the projections for the coming years being anything but promising.…”

Section: The Results Of the Adjustment Policy In Greecementioning

confidence: 99%

“…Greece, from the middle of the 90s, experienced a rapid increase of GDP, a trend maintained and after its accession in the Euro zone ( Figure 2). This was fuelled mainly by the domestic consumption and in much lesser portion by exports, a tendency enhanced by the capacity for borrowing from abroad with very low interest rates, combined with EU subsidies [18]. On the contrary, savings and investments were constantly waning with respect of the GDP (Figure 11).…”

Section: The Predominance Of Consumption Against Savings and Investmentmentioning

confidence: 99%

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Assessment of the Effectiveness of Adjustment Programs at the Core of the Greek Economy

Kotios¹,

Galanos²,

Poufinas³

2018

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Despite the seven-year implementation of three adjustment programs to address the sovereign debt crisis, the Greek economy is still in a prolonged recession and faces problems of competitiveness, political stability and social cohesion. At the same time, the fiscal adjustment policy did not solve the original problem of public debt. On the contrary, as recent evidence shows, the country's ability to service its debt has deteriorated. The causes of the crisis and the failure of the selected economic stabilization policies are a multidimensional and interrelated complex. The Greek economy has supported its growth in recent decades mainly in domestic consumption, with little presence in areas with high added value and extrovert features, focusing mainly on traditional business sectors with limited innovation characteristics. Ιn this study we will try on reasonable arguments but also with a series of statistical

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Section: The Results Of the Adjustment Policy In Greecementioning

confidence: 99%

Section: The Predominance Of Consumption Against Savings and Investmentmentioning

confidence: 99%

Assessment of the Effectiveness of Adjustment Programs at the Core of the Greek Economy

Kotios¹,

Galanos²,

Poufinas³

2018

Self Cite

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“…Greek domestic political and partisan scene: See, e.g., Vasilopoulou, Halikiopoulou, and Exadaktylos (2014); Katsimi and Moutos (2010); Onis (2009Onis ( , 2012; Kotios, Pavlidis, and Galanos (2011); Onis and Kutlay (2013); Mitsopoulos and Pelagidis (2015).…”

Section: Is It the Economy?mentioning

confidence: 99%

Military expenditure in Greece: Security challenges and economic constraints

Kollias¹,

Paleologou²,

Stergıou³

2016

EPSJ

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Against the backdrop of significant political, economic, and security-related changes that have taken place over the past two decades or so, this article examines the factors that affect military expenditure in Greece. Invariably ranked among the countries with the highest defense burden in the EU and NATO, it would appear that such budgetary outlays have mostly been driven by the ability of the economy to allocate scarce resources to national defense and less so by external security considerations.

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“…Greek crisis' management, both on the part of the Greek government and the European side, is an example to be avoided (Featherstone, 2011;Kotios et al, 2011). There is no doubt that Greek crisis' management highlighted by a universal failure.…”

Section: Business and Economic Researchmentioning

confidence: 99%

“…The crisis in the Greek economy first started as a crisis of the European financial system and as a result of the recession due to GEC, and subsequently resulted to a general social and political crisis (Kotios et al, 2011). The crisis has further evolved into a liquidity crisis in the regional countries, and then became a debt and solvency crisis, while these days, it is expressed as a continuous crisis of the existence and cohesion of the Eurozone within international dimensions (Shambaugh, 2012).…”

Section: Introductionmentioning

confidence: 99%

The Impact of Economic Crisis in Greece: Key Facts and an Overview of the Banking Sector

Mitsakis

2014

Business and Economic Research

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Nowadays, the global economic crisis (GEC) highly influences organizations through its macroeconomic causes and effects, which account for a significant impact on firms' human resources (HR) practices and labor relations (IR) as well. Of greatest concern is the extent to which the actual impacts of the crisis may be hoarding future problems for organization's operations. Owing to the dynamic nature of contemporary business, its complexity, along with the increasing need for expertise, strategic HR interventions are highly required in an attempt of creating mature and resilient, in HR terms, organizations which will be able to assure their competitiveness, survival, change and growth. However, most organizations (banks) failed to adequately finance their daily operations, accompanied by their failure to finance national economies as well. In that event, the straightaway effects of GEC have resulted into a collapse of most financial systems and in major shortages at financial institutions around the globe. The purpose of this paper is to highlight the impact of GEC through demonstrating key facts related to the current economic crisis in Greece, and more precisely for Greek banking organizations.

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Greece and the Euro: The chronicle of an expected collapse

Cited by 15 publications

References 0 publications

Assessment of the Effectiveness of Adjustment Programs at the Core of the Greek Economy

Assessment of the Effectiveness of Adjustment Programs at the Core of the Greek Economy

Military expenditure in Greece: Security challenges and economic constraints

The Impact of Economic Crisis in Greece: Key Facts and an Overview of the Banking Sector

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