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When Greece joined the [[Eurozone]] in 2001, it was less prosperous than the other members<ref>[http://www.indexmundi.com/g/r.aspx?c=gr&v=67  ''Country comparison GDP per capita (PPP), Index Mundi]</ref>, but its GDP grew more rapidly over the next eight years and fell less rapidly in the course of 2009. Its unemployment rate nevertheless rose in line with the European average and it was still suffering higher levels of poverty
{{AccountNotLive}}
<ref>[http://epp.eurostat.ec.europa.eu/cache/ITY_PUBLIC/3-18012010-AP/EN/3-18012010-AP-EN.PDF "Living conditions in 2008", Eurostat Newsrelease Januaty 2010]</ref>.
==Index and Glossary==
There is an index to the topics dealt with in the economics articles [[Economics/Related Articles|here]], and a glossary of economic terms [[Economics/Glossary|here]].


<ref>[http://www.oecd.org/dataoecd/5/61/43284926.pdf ''Economic Survey of Greece, 2009'', OECD July 2009]</ref>
See also the  [[Politics/Index|'''index to the politics articles ''']].


The country's [[national debt]] rose by about 25 per cent above its above-average pre-crisis level of 100 per cent of GDP<ref name=debt/>.
[[User:Nick_Gardner#Methodology|methodology]]


Fiscal factors account for only a third of the spreads<ref>[http://www.voxeu.org/index.php?q=node/4465 Maria Grazia Attinasi,   Cristina Checherita, and  Christiane Nickel: ''What explains the surge in euro-area sovereign spreads during the financial crisis of 2007-09?'', European Central Bank, 11 January 2010]</ref>
{|align="right" cellpadding="10" style="background-color:#FFFFCC; width:40%; border: 1px solid #aaa; margin:20px; font-size: 92%;"
|"''The European Union is something ...
very precious, not only for us in Europe, but also for the rest of the world. Because the European Union is, in fact, the result of a project for peace that brought together nations emerging from the ruins of the Second World War. It was the European Union that united them in peace around the values of respect for human dignity, freedom, democracy, justice, rule of law and respect for human rights.''"


<ref>[http://epp.eurostat.ec.europa.eu/cache/ITY_PUBLIC/COM_2010_REPORT_GREEK/EN/COM_2010_REPORT_GREEK-EN.PDF ''Report on Greek Government Deficit and Debt Statistics'', European Commission, January 2019]</ref>
:Merci Olsson, of Nobel Med, congratulating President Barroso on the award of The Nobel Peace Prize t the European Union, 12 October 2012.
 
<ref>[http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/10/123&format=HTML&aged=0&language=EN&guiLanguage=en ''Statement on the support to Greece by Euro area Members States'', Europa, 11 April 2010]</ref>
 
 
Can Greece Avoid the Lion?
Kenneth Rogoff
 
s demonstrated in my recent book with Carmen Reinhart  This Time is Different: Eight Centuries of Financial Folly , Greece has been in default roughly one out of every two years since it first gained independence in the nineteenth century.
 
<ref> http://www.project-syndicate.org/commentary/rogoff65/English
Can Greece Avoid the Lion?
Kenneth Rogoff Project Syndicate February 2010
 
 
[[/Addendum# |in ]]
 
 
[http://www.ifs.org.uk/bns/bn87.pdf]
[http://www.ifs.org.uk/bns/bn87.pdf. Robert Chote et al: ''Britain's Fiscal Squeeze, the Choices Ahead'', IFS Briefing Note BN87, September 2009]
 
<ref>[http://siteresources.worldbank.org/INTGEP2010/Resources/GEP2010-Full-Report.pdf ''Global Economic Prospects'', World Bank, January 2010]</ref>
 
 
::::{|class = "wikitable" 
|+
!
!colspan = "3"|
!colspan = "4"|2009
!colspan = "4"|2010
|-
!
!align="center"| 2007
!align="center"| 2008
!align="center"| 2009
 
!align="center"| &nbsp; Q1&nbsp;
!align="center"| &nbsp; Q2&nbsp;
!align="center"| &nbsp; Q3&nbsp;
!align="center"| &nbsp; Q4&nbsp;
!align="center"| &nbsp; Q1&nbsp;
!align="center"| &nbsp; Q2&nbsp;
!align="center"| &nbsp; Q3&nbsp;
!align="center"| &nbsp; Q4&nbsp;
|-
|align="center"| GDP (% change on previous period)
|align="center"|
|align="center"|
|align="center"|
|align="center"|
|align="center"|
|align="center"|
|align="center"|
|align="center"|
|align="center"|
|align="center"|
|align="center"|
|-
|align="center"|
|align="center"|
|align="center"|
|align="center"|
|align="center"|
|align="center"|
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|}
 
==Household Debt==
:(percentage of GDP}
::::::{|class = "wikitable"
|
|1997
|2007
|-
! The United States
|68
|95
|-
! The United Kingdom
| 75
| 105
|-
! The Eurozone
| 42
| 60
|}
 
:(Source: approximate transcription from the Turner Report [http://www.fsa.gov.uk/pubs/other/turner_review.pdf])
 
 
==The growth of financial assets==
 
:(Financial assets as a percentage of GDP)
::::::{|class = "wikitable"
|
|1995
|2005
|-
! The United States
|303
|405
|-
! The United Kingdom
| 278
| 359
|-
! The Eurozone
| 180
| 303
|}
|}
:(Source: Martin Wolf: ''Fixing Global Finance'',  page 11, Yale University Press, 2009. )
<references/>

Latest revision as of 04:28, 22 November 2023


The account of this former contributor was not re-activated after the server upgrade of March 2022.


Index and Glossary

There is an index to the topics dealt with in the economics articles here, and a glossary of economic terms here.

See also the index to the politics articles .

methodology

"The European Union is something ... 
very precious, not only for us in Europe, but also for the rest of the world. Because the European Union is, in fact, the result of a project for peace that brought together nations emerging from the ruins of the Second World War. It was the European Union that united them in peace around the values of respect for human dignity, freedom, democracy, justice, rule of law and respect for human rights."
Merci Olsson, of Nobel Med, congratulating President Barroso on the award of The Nobel Peace Prize t the European Union, 12 October 2012.
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