
31 Oct 2013, Thessaloniki, Greece — Thessaloniki, Greece. 31st October 2013 — Greek small holders hold banner during a protest rally on Thursday demanding return of their money, after the PSI restructuring last year meant substantial losses for them. — Dozens of Greek small bond holders stage a protest rally on Thursday demanding the return of their assets after the PSI debt restructuring last year which meant substantial losses for them in Thessaloniki, Greece. — Image by © Orhan Tsolak/Demotix/Corbis

by Aristides N. Hatzis
He is an associate professor of law and economics at the University of Athens. He is the founder of The Greek Crisis, a blog, and is on Twitter.
Greece is a part of a continent overwhelmed by crisis while economic power shifts to emerging countries. But only Europe can help Greece recover.
During its tumultuous history modern Greece has always managed to be part of the winning alliances. Right after its independence Greece was attached to the powerful British Empire. In the two world wars Greece was an energetic ally of the western powers. After a ferocious civil war it saved itself from becoming the southern part of the iron curtain and during the Cold War it was a member of NATO and an ally to the U.S. These alliances (despite their predicaments) helped Greece to realize two dreams: national integration and economic development (from 1929 to 1980 Greece had an average rate of growth of 5.2 percent).
Contuinue reading …
The views expressed on austriancenter.com are not necessarily those of the Austrian Economics Center.
We are glad you do! Please consider donating if you want to read more articles like this one.
Comment
|
December 12th, 2013
Greece Needs a Fresh Start
by Aristides N. Hatzis He is an associate professor of […]
Author
Team AEC31 Oct 2013, Thessaloniki, Greece — Thessaloniki, Greece. 31st October 2013 — Greek small holders hold banner during a protest rally on Thursday demanding return of their money, after the PSI restructuring last year meant substantial losses for them. — Dozens of Greek small bond holders stage a protest rally on Thursday demanding the return of their assets after the PSI debt restructuring last year which meant substantial losses for them in Thessaloniki, Greece. — Image by © Orhan Tsolak/Demotix/Corbis
by Aristides N. Hatzis
He is an associate professor of law and economics at the University of Athens. He is the founder of The Greek Crisis, a blog, and is on Twitter.
Greece is a part of a continent overwhelmed by crisis while economic power shifts to emerging countries. But only Europe can help Greece recover.
During its tumultuous history modern Greece has always managed to be part of the winning alliances. Right after its independence Greece was attached to the powerful British Empire. In the two world wars Greece was an energetic ally of the western powers. After a ferocious civil war it saved itself from becoming the southern part of the iron curtain and during the Cold War it was a member of NATO and an ally to the U.S. These alliances (despite their predicaments) helped Greece to realize two dreams: national integration and economic development (from 1929 to 1980 Greece had an average rate of growth of 5.2 percent).
Contuinue reading …
Author
View all posts
The views expressed on austriancenter.com are not necessarily those of the Austrian Economics Center.
Do you like the article?
We are glad you do! Please consider donating if you want to read more articles like this one.
Related
Comment
Why Government Grows, and How to Reverse It
April 23rd, 2014
Comment
Global Trade Liberalization Again on Track
March 6th, 2014
Comment
“Obamaconomy”
September 13th, 2013
Comment
The Death of Dialogue
February 8th, 2018
Comment
Why the Socialist Government of Albania Is Not a Success Story
February 4th, 2019