Economic Instability in Greece Timeline

  • Greece's Bailouts and the Economics of Social Disaster

    The Greek economy suffers under a harsh austerity regime imposed by the European Union and the International Monetary Fund (IMF).
    The bailouts worsen the economic situation, leading to a decline in GDP and severe social consequences.
  • The Greek Crisis

    The European Union's handling of the Greek crisis is criticized for its neoliberal policies and fear-driven approach.
    Bailout policies fail to rescue Greece and boost the eurozone, leading to speculation about a possible "Grexit."
  • The Greek Economic Crisis and the Experience of Austerity

    Greece experiences a significant drop in employment, with over one million jobs lost since 2008.
    A stock-flow consistent model (LIMG) shows that "expansionary austerity" policies will increase unemployment and fail to reverse the decline in employment.
  • Is Greece Heading for a Recovery?

    Despite some signs of recovery, the impact of market-driven recovery is insufficient to address poverty and unemployment.
    Alternative policy options, such as capital transfers, suspension of interest payments on public debt, and a New Deal plan, are evaluated.
  • Prospects and Policies for the Greek Economy

    Different policy options are evaluated to restore growth and increase employment in Greece.
    Recommendations include a recovery plan similar to the Marshall Plan, increased public consumption and investment, and an expanded direct public-service job creation program.
  • A Complementary Currency and Direct Job Creation Hold the Key to Greek Recovery

    The policy status quo in Greece is deemed insufficient to recover lost incomes and employment.
    An "employer of last resort" plan and the introduction of a nonconvertible "fiscal currency" called the Geuro are proposed.
  • Greece: Getting Out of the Recession

    The Greek government agrees to fiscal austerity measures, including tax increases and reductions in welfare-related expenditures.
    A recession is expected due to the reduction in the government deficit, unless other components of aggregate demand increase.
  • What's Ahead for the Greek Economy?

    The pandemic-induced economic contraction in Greece leads to revised growth projections and prospects for recovery.
    Projections show that the European recovery funds combined with an enhanced public job guarantee program can put the Greek economy on a path to sustainable growth.
  • Greece's Economy after COVID-19

    The COVID-19 pandemic halts Greece's economic recovery, leading to negative trends in GDP, employment, exports, and investment.
    Different scenarios and policy recommendations are analyzed to mitigate the impact and stimulate the economy.
  • Restarting the Greek Economy?

    The Greek economy suffers a severe decline during the COVID-19 pandemic, with high levels of unemployment and underemployment.
    Projections are made for different scenarios, including the disbursement of EU funds and the implementation of an employer-of-last-resort program, to assess their impact on growth and employment.