By Panagiotis E. Petrakis
On June three, 2015, the Greek Parliamentary finances workplace, the nationwide and Kapodistrian collage of Athens, the Democritus collage of Thrace, and the collage of Peloponnese subsidized a global convention to deal with medium- and long term development in Greece. This assortment provides the most powerful papers at the stipulations required to restore and retain financial progress. top specialists hide nearly each significant factor pointed out within the most up-to-date literature, from demographic concerns and suggestions for export technique to the necessity for innovation and structural reform. the mix of qualitative and quantitative techniques to assessing current stipulations make this ground-breaking assortment a invaluable source for numerous lecturers, specialist economists, and monetary coverage practitioners planting the seeds of Greece's future.
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Extra resources for A New Growth Model for the Greek Economy: Requirements for Long-Term Sustainability
2 CURRENCY INNOVATION: THE MEANING OF CURRENCY UNION The debate about currencies within the EU should include a greater willingness to think about alternatives. In 1992–1993, the EMS crises almost destroyed the path to the Euro, but the crisis was resolved by instituting greater flexibility: through wider (15 %) margins in the exchange rate bands. The modern equivalent to the band widening of 1993 would be keeping the Euro for all members of the Eurozone but also allowing some of them (in principle all of them) to issue—if they needed it—national currencies.
Additionally, the Troika (namely the IMF, European Commission, and European Central Bank) was involved in the rescues of Greece, Ireland, Portugal, and Cyprus to fight the sovereign debt crisis that emerged at the end of 2009, elaborating their economic adjustment programs and closely monitoring their progress (Kostis 2013). However, while the rescue programs in the Baltic states, Ireland, and Portugal have already concluded and Cyprus is on track to exit its economic adjustment program before 2016 (M.
It would necessarily involve substantial financial injections from Europe as a whole into the countries at the forefront of the refugee crisis. That could also be a source of new dynamism, and an answer to the problem of European ageing and decline. At the same time, ensuring that people can move with dignity also requires the elaboration of a precise political program to stabilize the neighborhood of Europe. Europe cannot be an island in a sea of a humanitarian disaster. It needs to act effectively to end the chaos that is driving despairing people by the millions to a European safe haven.