Abstract
Implementation of the memorandum policies has increased social inequalities, imposed material deprivation on a large proportion of the population, greatly reduced wages and pensions, worsened employment conditions, spurred unemployment, downgraded healthcare conditions, reduced population and increased immigration. But, there was also a category of very wealthy people who have seen their wealth increase.
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Notes
- 1.
Obviously there are multiple overlaps as a country can be included in more than one of these categorizations.
- 2.
All the data is taken from the web page of the Exports Research Centre (ΚΕΕΜ) http://www.pse.gr.
- 3.
It should be noted that apart from on the banks, the effects of bond haircuts were very serious on the insurance funds, where the initial nominal amount was around 15 billion, which was deposited in the Bank of Greece’s Common Fund and was found in July 2012 not to exceed 8.1 billion. It should be borne in mind that the insurance funds also lost a large amount of interest and revenue deriving from the initial sum (Labour Institute of the Greek General Confederation of Labour 2012: 287).
- 4.
- 5.
It is also characteristic that in terms of industrial production this particular sector has a very significant momentum: with 2010 as its base year its production figure for 2017 is 134, at a time when the figure for the processing sector generally is 71.9 and for industry 97.
References
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ICAP, 2011, Greek financial guide 2011/Greece in figures/5, Athens (in Greek).
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Sakellaropoulos, S. (2019). Changes in the Economy. In: Greece’s (un) Competitive Capitalism and the Economic Crisis. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-14319-0_4
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DOI: https://doi.org/10.1007/978-3-030-14319-0_4
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