Greek Economy: Back to the Past
Abstract
The Greek economy has been characterized by successive phases of growth and recession with marked changes in its macroeconomic data over the last twenty years, which have affected the social reality of the country. The growth phase resulted in the deadlocks of 2009 (deficits, debt and EU rules) and the recession phase, which was determined by the memorandum programs through internal devaluation, resulted in a drastic reduction in national income (28%). During the last two years, the country has been led back to a downward path (recession – pandemic) with unspecified final consequences for the economy and society. In typical terms, the performance of the Greek economy refers to the past (90s), and in this case there are strong doubts about its strategy and objectives.
Keywords: EU, Greece, crisis
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