The Greek Property Market [ePub]

by Nick French

The Greek economy is currently experiencing a phenomenal impasse due to chronic macroeconomic imbalances and the inadequacy of applied economic policy for decades. The deficits of the Greek economy are the largest in the euro zone. Respectively public and external debt is high and unsustainable, as they are continuously accumulated by annual deficits. Of course, these are not the only structural weaknesses of the Greek economy. For example, unemployment in Greece remains high, particularly among youth and women, since long before the crisis and despite high growth rates. High unemployment and low employment are backed with great inequality in the wealth distribution. The need for structural reforms in the public sector is evident from the fact that the effect of the social benefits is marginal on the poverty rates.

10.09.2010

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