Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/244508 
Year of Publication: 
2015
Series/Report no.: 
Working Paper No. 4/2015
Publisher: 
Örebro University School of Business, Örebro
Abstract: 
We trace the reasons for the negative development of Greek government debt from 1980 to 2014 by studying the deficits of the Greek state under the same period. We also see the Greek debt under the different political regimes. We briefly describe the two bailout programs for Greece and finally we name the amount and Euro states that own the Greek loans. The negative effects of austerity are about 22% less GDP and total household and government consumption and monthly wages; finally, the unemployment rate grew 21%.
Subjects: 
Austerity
Consumption
Deficit
Greek Debt Crisis
GDP
Unemployment
JEL: 
C22
E62
F33
H63
O40
Document Type: 
Working Paper

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