Two Greek economic analysts explain the Greek financial crisis —from beginning
to end.
The first section of Greece: From Exit to Recovery? explores the lead up to to
Greece's adoption of the euro. Authors Theodore Pelagidis and Michael
Mitsopoulos believe that the ensuing challenges were foreseeable. In fact, the
authors posit that it was Greece's difficultly in dealing with those challenges
that sparked the euro crisis.
Section II analyzes discrete sectors of the economy, paying special attention to
labor and finance —and the mistakes creditors made in focusing on reducing Greek
incomes —rather than increasing competitiveness on non-labor costs.
Section III investigates why Greek companies spend relatively little