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It is widely accepted that the persistent misreporting and lack of credibility of Greece's official statistics over many years was an important enabling condition for the buildup of Greece's fiscal problems and eventually its debt crisis.
5 days ago · During the months in which the debt crisis and election had been on centre stage, Greece became embroiled in another crisis, the flight of a huge wave of migrants and refugees seeking to escape turmoil in the Middle East and Africa by resettling in Europe.
Greece’s chronic fiscal mismanagement and resulting debt crisis has repeatedly threatened the stability of the eurozone.
Sep 30, 2019 · In Greece, it took place almost entirely through the fiscal channel, in particular through a surge in public pensions, but also in other transfers and wages. Pensions and social transfers increased by a whopping 7 percent of GDP from the time of euro adoption to the eve of the crisis, while the public wage bill rose by 3 percent of GDP.
May 20, 2016 · Here’s a digest of the IMF’s latest assessment of Greece’s 180 per cent debt pile and its recommendations on how to reduce it. What happens without debt relief: debt hits 294 per cent of...
May 18, 2023 · A harrowingly detailed tale of incompetence and intransigence in the Greek debt crisis
Jun 17, 2016 · Since Greece’s debt crisis began in 2010, most international banks and foreign investors have sold their Greek bonds and other holdings, so they are no longer vulnerable to what happens in...
One possible explanation for the severity of Greece’s crisis is the high level of debt—government, private, and external—at the onset of the crisis. Greece’s government debt stood at 103.1% of output in 2007, its net foreign assets at −99.9% of output, and its private-sector debt at 92.4% of output.
Jul 10, 2015 · As Greek voters reject the latest set of austerity measures from European creditors in a referendum, we look at the key numbers behind the country's debt crisis.
As the Financial crisis of 2007–08 began to affect Greece's economy, the country's GDP stagnated between 2008 and 2010 and the government's capacity to repay its creditors was drastically reduced. 4 October 2009 – The centre-left PASOK wins the Greek legislative elections.
