The Economics of the Greek

Greece economy

In this article we’ll cover the Economics of the Greek Economy, including the Fiscal policy mix, Inflation, and Exports. There are many important factors to consider, and the results of these policies will determine the future success of the Greek economy. However, the facts about the Greek economy are hardly as interesting as the facts about the country itself. Let’s start with the basics: Greece is located in southeastern Europe and is made up of thousands of islands. Its capital, Athens, is often referred to as the cradle of Western civilization. Its Parthenon temple and 5th-century Acropolis citadel are still a tourist attraction. Greece is also known for its beaches, with the black beaches of Santorini and the party-heaven of Mykonos popular with tourists.

Economic freedom in Greece

Since 1974, Greece has enjoyed an unmatched period of democratic rule. This has been partially due to the pressures from the EEC/EU institutional acquis. At the same time, Greece’s political culture has fostered rent-seeking. In the 1970s, the country’s constitution enacted Article 106, which allows the state to confiscate private property and use its state-controlled banking system to centrally plan the economy. Since then, pro-market researchers in Greece have reported numerous cases of abuse and misuse.

Inflation in Greece

The Greek economy is suffering from the effects of inflation, which is almost out of control. The country has seen the price of bread soar by 7.6% in April, and food and energy prices have increased by more than 20% since last summer. Other food items that are rising in price include meat and eggs, and oil and fats. Fresh fruit and vegetables have seen the highest rate of inflation, at 13.6%. Coffee has seen a relatively modest rise of 5.4%, while electricity and heating oil have gone up by 71.5% and 39.7%, respectively.

Fiscal policy mix in Greece

The troika’s fiscal policy mix has been criticized for a combination of short-term and long-term ineffectiveness. Failure has been attributed to political instability, social tension, and lack of programme ownership. While the loudest signal of policy shortcomings came in 2014, it remained hidden in the sensationalism of the January 2015 elections. A more active debt management strategy is required to achieve long-term sustainability. The authors of this brief examine the economic, political, and monetary policy mix for Greece.


In the first five months of 2019, exports in Greece hit a record high of 20.5 billion euros, exceeding its previous record of 15.2 billion in the same period last year. The increase was offset by increases in imports and lower domestic consumer spending. However, despite the stumbling economy, there are some bright spots. Greek companies are increasingly turning to exports to increase their revenue. In addition to a strong export sector, the country also has a robust agricultural sector.

Debt crisis in Greece

The debt crisis in Greece became a major issue for the country shortly after the financial crisis. The sudden reforms and austerity measures that accompanied the crisis led to impoverishment, loss of property, and small humanitarian crises. As a result, the country was forced to restructure its financial structure and reschedule its debt. Here is a breakdown of the crisis. The first step in solving this crisis is to understand the financial situation in Greece.

Impact of Ukraine war

The impact of the Ukraine war on Greece’s economy will likely be measured in many different ways. The war has been a political success for the Ukrainian government, but it has also proven to be very expensive for the country. The war has displaced many Ukrainians and forced the government to seek international recognition. While most nations come into being through war, the Ukrainian government used this opportunity to establish itself as a powerful state. This country has successfully demonstrated its European nationalism, civic nationalism, and democracy, and its popular president has left an indelible mark on the world stage.

Energy crisis in Greece

The energy crisis in Greece is a big issue for people and the government. According to a recent survey conducted by Kapa Research for the Nicos Poulantzas Institute, nearly half of households in the country are struggling to meet their energy needs. Some households have cut back on food and clothing expenses, while others are unable to pay their energy bills at all. And three out of ten households have fallen behind on utility bills. The Greek government has a long way to go before it can solve its energy crisis, and it’s going to take some time.

The Political Dynasties of Greece

Greece politics

Located in southeastern Europe, Greece has thousands of islands, and is often called the cradle of western civilization. Its capital, Athens, retains the Parthenon temple and the 5th century B.C. Acropolis citadel. It is also known for its beaches, including the black sands of Santorini and the party resorts of Mykonos. The political landscape is complex and fluid, with a complicated system of political dynasties.

Distrust over the political system

The recent Greek election reflects a widespread disillusionment with the country’s political system. In this context, a new online platform aims to build trust among Greek citizens and their elected representatives. Similar to ParliamentWatch, this project, launched in Germany, has already spread to six other countries. Its premise is to provide an open platform for citizens to express their views about government actions and policy. The platform will also allow citizens to ask questions of government officials and will monitor their answers against a code of conduct.

Central government controls on media

At the heart of the press freedom crisis in Greece are the controls placed by the Greek government on the media. These controls have a long history in Greece, going back to the right-wing dictatorships of the 20th century. At the present time, the censorship of Greek media is similar to that in Hungary. At the same time, the country’s journalists are experiencing a number of challenges in reporting the migration crisis.

Political dynasties in Greece

In Greece, political dynasties have been prominent for many centuries. These dynasties typically begin at the local level and move up the political ladder. They often have strong personalities and consolidated support bases. They may also have diversified interests outside of politics and may be involved in the arts, business, and other areas. This article will discuss the main political dynasties in Greece. Let’s start with the Mitsotakis family. The Mitsotakis family has been in the political scene for nearly two centuries, with their patriarch and two sons serving as PM.

Athens’ geopolitical position in Europe

The emergence of competing geopolitical rivalries between Greece and Russia has strengthened Athens’ geopolitical position, but it has also increased the risks involved in pursuing this strategy. Greece’s newfound relationship with Turkey may serve Athens’ interests in the short run, but its recent overtures seem aimed at achieving detente with Egypt and Israel. While the ‘enemy of my enemy’ reflex has long animated Middle Eastern geopolitics, it has also heightened the risk of escalation. Tensions in the summer of 2020 have already risen sharply over competing naval exercises and gas drilling between Turkey and Greece.

Religions in Greece

The Greek Constitution protects freedom of religion. Article 13 states that all religious groups are free to practice their beliefs, subject to certain restrictions. The ministers of all recognized religions must meet the same standards of state supervision and accountability as the Greek Orthodox Church clergy. The Jewish community and Greek Orthodox Church have long held official religious legal entities status in Greece. In 2014, two evangelical Christian groups and the Ethiopian Coptic Apostolic Church gained this status automatically.

The Best Places to Visit in Greece

Greece tourism

The Greek islands are home to thousands of beautiful beaches and are a great place to spend a week or two. The country has been called the cradle of western civilization and is home to the Parthenon and Acropolis temples, which date back to the 5th century B.C. The beaches are some of Greece’s most popular attractions. Some of the most popular ones include the black beaches of Santorini and the party resorts on Mykonos.


Athens is not only the capital of Greece, but it was also the heart of Ancient Greek civilization. A great empire once centered here, Athens is still dominated by some of its most important landmarks. The 5th century BC Parthenon temple atop the Acropolis dominates the city center, and the Acropolis Museum, a part of the National Archaeological Museum, contains artifacts and exhibits from Ancient Greece.


Visit Corfu in Greece, an island off the northwest coast. The island is known for its rugged mountains, resort-studded shoreline, and rich cultural heritage. Before 1864, Corfu was ruled by the French and Venetians, and the island’s town, Corfu Town, still has medieval lanes, a French-style arcade, and the grand Palace of St. Michael and St. George.


Mycenae is an archaeological site in the Argolis region of Greece. This ancient city is located 120 kilometres from Athens, 11 kilometres from Argos, and 48 kilometres from Corinth. Tourists are encouraged to visit the site as it is rich in history and ancient art. It is best visited during the summer months and has a great deal to offer visitors of all ages.

Mount Athos

For over a thousand years, the monasteries on Mount Athos have been the center of Orthodox Christian life in Greece. Listed as a UNESCO World Heritage Site, the mountain is recognized for its unique cultural and natural attributes. The monasteries are geographically isolated from the rest of Europe and are one of the few remaining areas with a completely natural ecosystem. Additionally, Mount Athos is the holiest site for Orthodox Christians.


Nea Kios, a charming seaside town located on the shore of Nafplio bay, is also worth visiting. The Cultural-Conference Center located in the town’s central square is an interesting attraction. You can also visit the Laskarideio Folk Art Museum. During the summer and Carnival, Nea Kios is host to a variety of interesting events. The Papalinas feast, one of the oldest festivals in Greece, is celebrated here. Ancient Lerna and Hercules’ second labour are also nearby.

Mycenae Beach

When planning a vacation to Mycenae Beach, Greece, consider a visit to the ancient city of Mycenae. The town boasts a rich history and is a UNESCO World Heritage Site. The area’s archaeological space includes a museum and several archaeological sites. The town also has a variety of tombs, including the Treasury of Atreus. These circular tombs were looted and were once filled with the worldly possessions of the deceased.

Melissani Cave

The limestone lake of Melissani Cave is a unique sight, particularly during sunrise and sunset. During these hours, the lake’s waters are illuminated by the sun and turn blue. The cave’s limestone walls and ceiling are also stunning. You can even walk inside the cave. For an unforgettable experience, consider booking a tour through this tourism site in Greece. It is well worth the trip. It is also home to some of the most beautiful sculptures in Greece.