The state has a debt on its obligations. As a result it had to cut its costs. They have done that by lowering incomes (e.g. for civil servants). Many people protested. Production levels lowered. Final result was that the Greek economy got mixed up.
Trust is important in economics. Many corporations and banks didn't trust the Greek state anymore. This had a damaging effect on Greece's economy as well.
Greece has a Capilatist Economy.
Italy has fewer foreign debts and is much better than Greece's economy. Greece accounts for less than 2 per cent of the EU economy.
The economy was completely destroyed
The primary thing that happened to the economy of the US after the war was a dramatic slowdown. This is a result of the halt to the manufacture of equipment needs for fighting.
it was the worst economy that ever happened to man kind jk
Greece has a Capilatist Economy.
Capilatist Economy (:
Italy has fewer foreign debts and is much better than Greece's economy. Greece accounts for less than 2 per cent of the EU economy.
Market economy
Greece is a capitalist economy
Because of Greece's location, it relied mostly on fishing and trading. Nowadays, Greece's economy depends heavily on shipping and tourism.
because it does
It helped the economy of the country.
Shipbuilding is an important industry in Greece.
Germany's economy inflated after the holocaust.
A national economy with more than 1 currency. i.e: Greece; the Euro and the drakmah
A national economy with more than 1 currency. i.e: Greece; the Euro and the drakmah