By Panagiotis E. Petrakis

On June three, 2015, the Greek Parliamentary finances place of work, the nationwide and Kapodistrian collage of Athens, the Democritus collage of Thrace, and the collage of Peloponnese subsidized a global convention to handle medium- and long term development in Greece. This assortment provides the most powerful papers at the stipulations required to restore and continue financial development. prime specialists disguise nearly each significant factor pointed out within the newest literature, from demographic concerns and recommendations for export technique to the necessity for innovation and structural reform. the combo of qualitative and quantitative techniques to assessing current stipulations make this ground-breaking assortment a worthwhile source for quite a few teachers, specialist economists, and fiscal coverage practitioners planting the seeds of Greece's future.

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12: “Demographic Challenges Facing Long-Term Growth in Greece”). Greece, like the other members of the European Union, is in the midst of a profound demographic transition, one that will see the country’s population simultaneously shrink and age for many decades to come. The basic drivers of this transition are long-term low fertility and rising life expectancy. A second path dependency issue raised in Greece relates to the way the economic adjustment has occurred inside the framework of a currency union.

KOSTIS ET AL. 2010). Such a program is expected to reduce the growth of nominal GDP, worsening the external debt. This raises the question of whether debt and deficits should be reduced through austerity programs or whether an expansionary fiscal policy should be pursued by applying Keynesian models. Most Eurozone countries have faced—and many still face—big problems since the outbreak of the recent economic crisis. However, among the countries that implemented consolidation programs, considerable differences exist with regard to the causes of the crisis.

8 COMMON PROJECTS: PEOPLE UNION One of the gravest security crises currently facing Europe is the outcome of the disintegration of neighboring regions: North Africa and the Middle East in the wake of the so-called Arab Spring and more recently the crisis in eastern Ukraine. Europe is confronting a humanitarian crisis as a consequence of the flight of refugees from civil war in Libya and Syria. ISIS is indeed trying to use the threat of further expulsions as a weapon against Europe. The countries that are today on the front line of Europe’s humanitarian struggle are by chance also the worst affected by the financial crisis: Greece, Italy, and Spain.

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