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Structural Changes or Possible Exit of Greece from the Eurozone?

100%

Gikas G., Tagkas P., Wyższa Szkoła Bankowa w Gdańsku

Acta Universitatis Lodziensis. Folia Oeconomica

2010

vol. 239

In Eurozone countries with a lower level of development, the current disturbances hit important sectors of the economy and have a more negative impact on economic enlargement and employment than in the rest of the Eurozone countries. In this paper we try to evaluate the Greek experience in the Eurozone and highlight the problem of competitiveness, which is related with the lower level of development. Finally, we examine whether and how much the evolving exchange rates contribute to the stability of the economy or, instead, to the aggravation of its imbalances. Finally, the conditions for exit from the crisis are presented, in order for Greece to continue to participate in the Eurozone.

Global Financial Crisis and Greek Debt Crisis

81%

Gikas G., Hyz A., Tagkas P.

Acta Universitatis Lodziensis. Folia Oeconomica

2012

vol. 273

This paper presents the causes of the global financial crisis and critically discusses the Greek debt crisis. We argue that the crisis is the result of deterioration of Greek macroeconomic characteristics to levels inconsistent with long- term EMU participation. We also argue that without extensive structural reforms the sustainability of the European Monetary Union is in question. We suggest that the European leaders should take initiatives to create mechanisms to address the debt crisis, to improve surveillance for the implementation of fiscal rules and to strengthen economic cooperation between countries in order to raise funds that may cover the short-termneeds of countries facing sovereign debt crisis.

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2 Acta Universitatis Lodziensis. Folia Oeconomica

2 Gikas G.

2 Tagkas P.

1 Hyz A.

1 Wyższa Szkoła Bankowa w Gdańsku

1 2012

1 2010

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Structural Changes or Possible Exit of Greece from the Eurozone?

Global Financial Crisis and Greek Debt Crisis