New Book About Crisis: "Greece: From Exit to Recovery"

Two Greek economic analysts Michael Mitsopoulos, economist at the Hellenic Federation of Enterprises, and Theodore Pelagidis, professor of economics at the University of Piraeus seek to explain the Greek financial crisis, from beginning to end, in their new book totled "Greece: From Exit to Recovery?". In the first part of the book which was recently published by the Brookings Institution Press, the authors explore the lead up to Greece’s adoption of the euro arguing that the ensuing challenges were foreseeable.

In the second half, Mitsopoulos and Pelagidis more or less analyse discrete sectors of the economy, paying special attention to labor and finance, and the mistakes creditors made in focusing on reducing Greek incomes, rather than increasing competitiveness on non-labour costs.

Finally in part three, both authors seek to understand why Greek companies spend relatively little on research and development and indicate that policy decisions largely determine R&D performance in the private sector. Mitsopoulos and Pelagidis also bring to the fore of specific policy proposals to improve the situation.