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The International Economic Crisis

  • Spyros Sakellaropoulos
Chapter

Abstract

The 2008 global crisis was a result of the fact that since the previous crisis of 1973 and its aftermath it has not been possible to return to the previous levels of profitability; however, many different methods have been tried (salary reduction, adoption of new norms in labour relations, utilization of new technologies and financialization of economies). The bubble that was generated by financialization has had very great consequences, which indeed started with the United States but quickly spread to the EU and the European Monetary Union, imposing oppressive limits on the functioning of the European economy and exerting even greater pressure on less developed capitalist countries such as Greece.

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Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Spyros Sakellaropoulos
    • 1
  1. 1.Department of Social PolicyPanteion UniversityAthensGreece

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