External Financial Aid and Economic Reforms in Greece as Anticrisis Measures and Their Effects Cover Image

Zagraniczna pomoc finansowa i reformy gospodarcze w Grecji w walce z kryzysem oraz ich rezultaty
External Financial Aid and Economic Reforms in Greece as Anticrisis Measures and Their Effects

Author(s): Tomasz Kubin
Subject(s): National Economy, Supranational / Global Economy, Public Finances, Socio-Economic Research, EU-Legislation
Published by: Instytut Nauk Ekonomicznych Polskiej Akademii Nauk
Keywords: macroeconomic policy; public finance; economic crisis; Greece; Economic and Monetary Union; European Union;

Summary/Abstract: Greece was most keenly hit by the global economic crisis among all EU countries. As a state, Greece has de facto become bankrupt; a formal declaration of insolvency has been avoided thanks to external financial aid received. In this connection, radical economic reforms have been introduced. The article tries to assess economic effects of these reforms and of financial aid from abroad. The article presents major economic reforms undertaken by the Greek government and assesses the changes in the country’s economic situation. The author maintains that the results of those reforms and of financial aid received have been quite modest and the way out of the crisis has not been found as yet.

  • Issue Year: 2017
  • Issue No: 4
  • Page Range: 434-456
  • Page Count: 23
  • Language: Polish
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