The Greek Crisis 2009-2015: A Comprehensive Analysis of the EU-IMF Financial Assistance Programs
International Journal of Employment Studies 24(2): 7-34, 2016
29 Pages Posted: 2 Mar 2017
Date Written: 2016
The Eurozone crisis has constituted one of the most dramatic events in the history of the European Union (EU), and has been the reason for an extensive overhaul of the EU operating framework (particularly for the Eurozone). The first Eurozone Member State to resort to the then ad hoc EU-IMF financial assistance cooperation was Greece, opening the door of the Eurozone to the IMF and, simultaneously, to the further integration of the Economic and Monetary Union. Today, of the five Eurozone Member States that eventually requested EU-IMF financial assistance (Greece, Ireland, Portugal, Spain, Cyprus), Greece is the only one still receiving assistance. Despite the importance of the case of Greece, further contributions can be offered to the existing scholarship in relation to the specifics and modalities of the assistance programs and their transference within the Greek ordre public, something otherwise mostly absent from the field. The aim of this article is to provide a detailed analysis of the Greek crisis from its beginning in late-2009 until today, and investigate how exactly the measures assumed in the context of financial assistance unfolded.
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