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Lapavitsas, Costas (2018) 'Political Economy of the Greek Crisis.' Review of Radical Political Economics, 51 (1). pp. 31-51.

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The Greek turmoil commenced as a balance of payments, or “sudden stop”, crisis induced by large current account and primary government deficits. It became an economic and social disturbance of historic proportions. Its proximate cause was loss of competitiveness within the Eurozone due primarily to domestic German wage policies. The bail-out policies, imposed by the lenders primarily for reasons of Eurozone stability and adopted by Greece, have had disastrous effects on both economy and society. The “historical bloc” that dominates Greek society willingly submitted to this strategy, losing sovereignty, for reasons including fear and identity.

Item Type: Journal Article
Additional Information: ESSN: 1552-8502
SOAS Departments & Centres: Departments and Subunits > Department of Economics
ISSN: 04866134
Copyright Statement: © 2018 Union for Radical Political Economics. This is the accepted version of an article published by Wiley in Review of Radical Political Economics
DOI (Digital Object Identifier):
Date Deposited: 20 Feb 2018 11:53
Related URLs: https://uk.sage ... s/journal201656 (Publisher URL)

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