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The causes of the Greek debt problem

Atsalakis Georgios, Galariotis, Emilios, Zopounidis Konstantinos

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URIhttp://purl.tuc.gr/dl/dias/5F0C616C-76A5-4FFE-BF68-67579392BE88-
Identifierhttps://doi.org/10.4018/978-1-6684-7460-0.ch099-
Identifierhttps://www.igi-global.com/gateway/chapter/310925-
Languageen-
Extent17 pagesen
TitleThe causes of the Greek debt problemen
CreatorAtsalakis Georgiosen
CreatorΑτσαλακης Γεωργιοςel
CreatorGalariotis, Emiliosen
CreatorZopounidis Konstantinosen
CreatorΖοπουνιδης Κωνσταντινοςel
PublisherIGI Globalen
Content SummaryIn Greece, special interest groups were the main drivers of pressure to increase public spending and, by extension, to increase public debt to cover the expenditure by blocking any effort of prudent governance. They were so greedy, that when the funds of public vaults were not sufficient to meet their expectations, they exerted pressures or even extorted the state to engage in public borrowing so as to accrue even greater funds, disregarding the short- and long-term cost of such actions for the state and society. As a result, a vicious circle led to Greek public over-indebtedness in order to support public overspending. It is indicative that the Greek state's primary expenditure rate increased between 2000 and 2009 by 135%. In other words, the citizens were obliged to pay taxes that would support two states: the expenses' level the state had until 2000 and the costs of one more state after 2000-2009.en
Type of ItemΚεφάλαιο σε Βιβλίοel
Type of ItemBook Chapteren
Licensehttp://creativecommons.org/licenses/by/4.0/en
Date of Item2024-10-30-
Date of Publication2022-
SubjectGreek debt problemen
Bibliographic CitationG. S. Atsalakis, E. Galariotis, and C. Zopounidis, “The causes of the Greek debt problem,” in Research anthology on macroeconomics and the achievement of global stability, IGI Global, 2022, pp. 1880-1896, doi: 10.4018/978-1-6684-7460-0.ch099.en
Book TitleResearch anthology on macroeconomics and the achievement of global stabilityen
Book Edition1-
Book Seriesen

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