Louri-Dendrinou, Eleni (2014) Economic and financial changes since the onset of the global and euro area crises. LSE Greece@LSE (21 Oct 2014). Website.
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Abstract
With the introduction of the euro and the mispricing of sovereign (Greek) risk, a flux of funding inundated Greece and helped fuel an impressive growth rate (averaging 4%) in 2000-2008. Growth, combined with low inflation since monetary policy was managed by the European Central Bank (ECB), produced a flattering picture of an economy suffering from serious reform resistance. Growing fiscal and external imbalances were thus left unaddressed. In 2009 the fiscal deficit reached 15%, while Greece’s competitiveness loss against its trading partners in 2000-2008 was 30%, leading to a current account deficit exceeding 15%. The government sector was crowding-out the tradeables sector.
| Item Type: | Online resource (Website) |
|---|---|
| Official URL: | http://blogs.lse.ac.uk/greeceatlse/ |
| Additional Information: | © 2014 The Author(s) |
| Divisions: | Hellenic Observatory |
| Subjects: | H Social Sciences > HB Economic Theory H Social Sciences > HC Economic History and Conditions J Political Science > JC Political theory J Political Science > JN Political institutions (Europe) |
| Date Deposited: | 31 May 2017 11:53 |
| Last Modified: | 13 Sep 2024 19:29 |
| URI: | http://eprints.lse.ac.uk/id/eprint/79366 |
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