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Is Greece a Failing Developed State? Causes and Socio-economic Consequences of the Financial Crisis

  • Harris Mylonas
Chapter
Part of the The Constantinos Karamanlis Institute for Democracy Yearbook Series book series (KKID YEARBOOK)

Abstract

Is the Greek crisis an isolated case or the first of a series of future failing developed states? The Greek financial crisis is not on the front page of the Financial Times anymore, but it is far from over. The financial crisis did not manifest itself in Greece alone. Ireland has also sought an equally large EU-IMF rescue plan. Portugal and Spain have been under the microscope of the media and credit rating institutions. Such other instances in the Eurozone’s periphery have repercussions for the currency as a whole as well as for the EU (Straubhaar, 2010). Greece, Ireland, Portugal and Spain are members of the Eurozone area, which means that they share the same currency with economic giants such as Germany and France.

Keywords

Public Sector Financial Crisis Conspiracy Theory Greek Economy Patronage Politics 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Konstantinos Karamanlis Institute for Democracy 2011

Authors and Affiliations

  • Harris Mylonas
    • 1
    • 2
  1. 1.The Elliot School of International AffairsGeorge Washington UniversityWashingtonUSA
  2. 2.Academy Scholar, Harvard Academy for International and Area StudiesHarvard UniversityCambridgeUSA

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