THE EUROPEAN UNION’S RESPONSE TO THE GREEK CRISIS

• Main Authors: Theofanis Mavridakis, Dimitrios Dovas, Spiridoula Bravou
• Format: Article
• Language: English
• Published: Business School PAR 2017-06-01
• Series: Journal of Business Paradigms
• Subjects: EU; Greece; crisis
• Online Access: http://journal.par.hr/archives/send/5-vol-2-no-1/18-the-european-union-s-response-to-the-greek-crisis

Over this entire period, the European Union's response to the Greek crisis shows issues of constant recycling. Mistaken forecasts, omissions, and continued stagnation are visible in its response. The main reasons that contribute to uncertainty are the concessions made in the management of the debt, the mistaken forecasts made when choosing policy measures and methods, the refusal to relax the limits of the Stability Pact by the European institutions, ignoring the possibility of looking in another direction, as well as frequent interference by political and institutional actors, with tension in the public discussion of the future of the programs or the country, which contributed even further to destabilization. In this way, the entire effort became increasingly complicated, independently of the economic parameters governing it, which in any case were peculiar. Dealing with this problem is not an issue of simply economic nature, but is an issue connected with its history, as we have already analyzed, as well as with the guidelines and priorities of the European Union itself.