75 2016 dating in greece


01-Dec-2020 20:10

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Greece's GDP growth has also, as an average, since the early 1990s been higher than the EU average.However, the Greek economy continues to face significant problems, including high unemployment levels, an inefficient public sector bureaucracy, tax evasion, corruption and low global competitiveness.Average Greek Government Debt-to-GDP for the entire century before the crisis (1909-2008) was lower than that for the UK, Canada or France Between 19 it steadily rose, surpassing the average of what is today the Eurozone in the mid-1980s (see Chart below).For the next 15 years, from 1993 to 2007 (i.e., before the Financial crisis of 2007–2008), Greece's government Debt-to-GDP ratio remained roughly unchanged (the value was not affected by the 2004 Athens Olympics), averaging 102% During the latter period, the country's annual budget deficit usually exceeded 3% of GDP, but its effect on the Debt-to GDP ratio was counterbalanced by high GDP growth rates.

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According to Der Spiegel, credits given to European governments were disguised as "swaps" and consequently did not get registered as debt because Eurostat at the time ignored statistics involving financial derivatives.

Greece was accepted into the Economic and Monetary Union of the European Union by the European Council on 19 June 2000, based on a number of criteria (inflation rate, budget deficit, public debt, long-term interest rates, exchange rate) using 1999 as the reference year.



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