The Lessons Quebec Offers to Greece and Europe

Managerial and Decision Economics, Forthcoming

Posted: 8 Oct 2016

See all articles by Michael S. Mitsopoulos

Michael S. Mitsopoulos

Hellenic Federation of Enterprises

Theodore Pelagidis

University of Piraeus; Brookings Institution

Date Written: October 6, 2016


An assessment of the dynamics and importance of Greece’s potential Grexit is made to point out its pivotal role during the Eurozone’s current crisis. Subsequently the case of the independence movement of Quebec is examined, to argue that once perceptions about the separation from a Union – such as Greece’s Grexit- take root they may propagate themselves for long periods of time entrenching an uncertainty that leads to concrete economic damage. Therefore the need to accelerate “convergence in institutions” among the Union members is highlighted, as is the need to acknowledge that political developments in Greece are in line with the predictions of a growing literature on the causes and impact of political risks.

Keywords: Political Integration, Institutions, Greece, convergence, Economic Union

JEL Classification: K00, F330, K100

Suggested Citation

Mitsopoulos, Michael S. and Pelagidis, Theodore, The Lessons Quebec Offers to Greece and Europe (October 6, 2016). Managerial and Decision Economics, Forthcoming, Available at SSRN:

Michael S. Mitsopoulos (Contact Author)

Hellenic Federation of Enterprises ( email )

Xenofontos str 5
Athens, 10557
2106722694 (Phone)

Theodore Pelagidis

University of Piraeus ( email )

21 Lambraki street
Piraeus, Attiki 18533
+3021 04142526 (Phone)
+3021 4142571 (Fax)


Brookings Institution ( email )

1775 Massachusetts Ave, NW
Washington, DC 20036
United States


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