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A chronicle of the economic cycles of the 80s, starting from state expansion and leading up to the "first" austerity policy (stability program). Presentation of the factors that we now know have played a key role in both the country’s macroeconomics and the financial behavior of its residents (e.g. deficits, debt). Also, the changes in the banking system, elements of income and monetary policy, the ineffective national product promotion campaign "Eπιμένων Ελληνικά (Insisting on Greek)", the progressive de-industrialization and the choice of State bailouts instead of reforming the country’s productive fabric, are all observed and presented in this section.

Research Assistant: Nikos Gionis

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Kyriakos Pierrakakis holds a Master’s degree in Public Policy from Harvard University and a Master’s degree in Technological Policy from MIT (Massachusetts Institute of Technology). He is a small business consultant with a focus on innovation.

Kostas Roumanias studied Economics in Oxford. He is a Lecturer in International and European Economics Studies at the Athens University. His articles have been published in numerous science journals such as “Economic Letters” and “Economics and Politics”. His research focuses mainly on political competition theory, economics of corruption and industrial organization.

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