What is it about?

The debt crisis, which by 2012 had become a severe economic recession and unemployment crisis, remained the overriding issue in Greece during 2012.The country retained worldwide importance and attention, primarily because of the political uncertainty and ‘Grexit’ scenarios – a term coined in 2012 referring to the possibility of Greece leaving the eurozone. Financial markets held their breath during the parliamentary votes, the two national elections and the multiple attempts to form a government by Greek political elites. The fears were linked to the systemic risks that negative developments in the future of the Greek bail-out package and Greece’s relationship with the ‘troika’ (International Monetary Fund, European Central Bank, European Commission) could bring about for other European economies and their banking sectors.

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Why is it important?

Describes political developments during 2012.

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This page is a summary of: Greece, European Journal of Political Research Political Data Yearbook, December 2013, Wiley,
DOI: 10.1111/2047-8852.12012.
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