JORGE RODRIGUES SIMAO

PARTS OF OUR BOOK - PUBLISH ON JULY, 2012 BY SPRINGER

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EURO CRISIS: GREECE, PORTUGAL AND SPAIN

 Jorge Rodrigues Simão

 VOLUME I

GREECE, PORTUGAL AND SPAIN

 GREECE

 CHAPTER I

 SECTION I

INTRODUCTION

 As the global recession began in 2008, the Greek economy featured high levels of public debt, a large trade deficit, undiversified industries, an overextended public sector, militant trade unions, widespread corruption, uneven payment of taxes, an overvalued currency, consumers expecting rising living standards and euro membership based on inaccurate data.