Greek Foreign Trade and Finance : The Mixed Blessings of Economic Dependence

It focuses on the benefits and challenges of Greece’s economic dependence on the larger and higher income countries of Western Europe, and in particular the European Union, have played in its economic development.

This book examines the role of international trade and finance in the Greek economy since the beginnings of the Greek state two centuries ago to the present day. It focuses on the benefits and challenges of Greece’s economic dependence on the larger and higher income countries of Western Europe, and in particular the European Union, have played in its economic development. The volume begins by examining Greece’s links to Europe in the 19th century and its desultory participation in the Latin Monetary Union. Its main focus is the post- World War II period, starting with Greece’s efforts to establish sustainable economic growth, at a time when the country was facing severe foreign exchange constraints and relied on assistance from the US under the Marshall Plan. It then examines relations between Greece and the European Community, particularly on its efforts to integrate into the European Union, the debt crisis and the reforms and recovery in its aftermath. The book details in accessible and engaging style how the story of Greece’s economic integration in Europe has involved both successful development but also failures by Greek, Eurozone and IMF policymakers. With valuable historical insights, this book will be of interest to academics and policymakers in Greece, the EU and emerging economies weighing economic integration. It will also be of interest to economic historians and political economists more broadly.