Greek Debt Crisis: “An Introduction to the Economic Effects of Austerity”
2015 (English)Report (Other academic)Text
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%.
Place, publisher, year, edition, pages
Örebro University , 2015. , 20 p.
, Örebro University, School of Business, Working Paper, ISSN 1403-0586 ; 04/2015
Austerity, Consumption, Deficit, Greek Debt Crisis, GDP, Unemployment
Economics Probability Theory and Statistics
Research subject Economy, Economics; Statistics/Econometrics
IdentifiersURN: urn:nbn:se:lnu:diva-50504OAI: oai:DiVA.org:lnu-50504DiVA: diva2:910476
Working paper2016-03-092016-03-092016-03-22Bibliographically approved