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Greek economic crisis and political implications | ||
| Al Kut Journal of Economics Administrative Sciences | ||
| Article 1, Volume 0, Issue 10, 2018, Pages 86-105 | ||
| Author | ||
| mostafa hossuin abid al razak | ||
| Abstract | ||
| The eruption of the economic crisis arouses a debate among economists and politicians about the direct reasons that led to it, but these reasons are often the last effect causes, that is the straw that broke the camel's back. It is true that the global economic crisis helped in the emergence of the symptoms of the crisis in Greece but the Greek economy had been suffering for decades from a great imbalance that is evident when studying its most important features for a long period. The symptoms of this defect were not visible so the crisis of the Greek economy is such as water flowing slowly on the surface and being rushed in the bottom( still water on surface that rushes in deep).The achievement of good growth rates were referring to a correct economic course, but looking at the economy's ability to attract investment shows the contradiction and arouse a question about the source responsible for achieving this growth, and the answer appears by analyzing the public finance of Greece, which shows the amount of debt Greece depends on to achieve that growth,The Greek politicians` preference of immediate interest for political gains to the long-term interest made the Greek economy weighed down with huge debts that their effects appeared after three decades of following those policies which made Euro zone countries lose confidence of Greece and made the countries of the region seriously think in reconstruct the Union to be able to control financial policies for its members as controls monetary policy by the ECB. The Greek people have lost confidence in the classical parties controlled by certain families, because they followed similar irrational policies despite their different ideological orientations . | ||
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