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Funding the Greek Crisis - 1st Edition - ISBN: 9780128145661, 9780128145678

Funding the Greek Crisis

1st Edition

The European Union, Cohesion Policies, and the Great Recession

Authors: Constantinos Ikonomou Louka Katseli
Paperback ISBN: 9780128145661
eBook ISBN: 9780128145678
Imprint: Academic Press
Published Date: 15th June 2018
Page Count: 336
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How does one distinguish between European Union investments that improve welfare and those that create economic malaise? Funding the Greek Crisis: The European Union, Cohesion Policies, and the Great Recession explores the sources of the Greek Crisis that lie primarily in EU policies that appeared to have worked better for other countries but not for Greece. Without overly simplifying the Greek condition, it provides insights into policies the countries of the euro area may need to implement in order to ensure collective cohesion and individual success. Arguing that EU preferences for autonomous investments discouraged organic development with lasting implications, Funding the Greek Crisis sheds new light on the nature of regional competitiveness and public economics.

Key Features

  • Encompasses public economics, macroeconomics, international trade, competitiveness, microeconomics and regional development studies
  • Sheds light on key policies that affect millions of EU citizens
  • Examines Solow’s growth model
  • Provides a different way of explaining growth from real business cycle theory


Upper-division undergraduates, graduate students, and professionals working in EU economic studies and regional economics

Table of Contents

1. The Great Greek Crisis
2. Theoretical Underpinnings
3. Analysis of the Deeper Causes of the Greek Crisis
4. Conclusions


No. of pages:
© Academic Press 2018
15th June 2018
Academic Press
Paperback ISBN:
eBook ISBN:

About the Authors

Constantinos Ikonomou

Dr Constantinos Ikonomou is an adjunct lecturer over the last six years at the Department of Economics of the National and Kapodistrian University of Athens. He has been associated as a Research Fellow at the Department of Political Studies and International Relations of the University of Peloponnese and taught as a Professor-Consultant at the Hellenic Open University as well as in other Greek universities. He holds a Ph.D. degree from the University of Cambridge and an MSc from London School of Economics. He has published in several Greek and international journals and conferences and his interests range across many fields in economics, growth theory, business growth theory, regional and local studies, as well as the EU Cohesion Policy and its evaluation.

Affiliations and Expertise

National and Kapodistrian University of Athens and,Hellenic Open University Greece

Louka Katseli

Louka T. Katseli is Professor of International Economics and Development at the Department of Economics of the National Kapodistrian University of Athens. She has served as Greece’s Minister of Labor and Social Security (2010 – 2011) and Minister of Economy, Competitiveness and Shipping (2009 – 2010). With a Ph. D in International and Development Economics from Princeton University, she has taught as Assistant and Associate Professor at Yale University and has published extensively in her fields of interest which include international, development and institutional economics. She has served as Director of the OECD Development Centre ( 2003 - 2007) , member and vice-president of the UN Committee for Development Policy ( 1996–1999) , Special Advisor to the Greek Prime Minister (1993 – 1996) and Director of the Centre for Planning and Economic Research (1983-1986). She has been a member of the EC Monetary and Economic Policy Committees and an advisor and consultant to various governments and international organizations.


"Following the reading of this book, I strongly recommend it to a vast pool of academics and policy officials interested in understanding the effects of the implementation of EU Cohesion Policy in EU Member States, and especially in cohesion countries.  In his research, the author focuses on the Greek case-study, by providing a detailed and critical analysis of the potential misuse of EU Cohesion Policy related socioeconomic Investments in Greece (1981-2011), whilst relating them to the triggering of the ‘2008 Greek crisis.’  In all, the author provides an insightful and detailed guide to the Greek experience in implementing EU Cohesion Policy from a socio-economic perspective, whilst proposing novel avenues to correct past mistakes." --Eduardo Medeiros, Universidade de Lisboa

"This is an important book, which takes a new and insightful approach to understanding the Greek crisis. The links between domestic Greek economic performance and EU cohesion policies have, until now, been under-researched, and this book shines a bright light on a dark part of the Greek economic story." --Robert Ackrill, Nottingham Trent University

"A first-rate, rigorous analysis of the sources of the Greek crisis. This book offers a brilliant and remarkably clear understanding of the policies that the Euro area should implement towards collective cohesion and individual success. Highly Recommended." --Panagiotis Koutroumpis, Queen Mary University London

Ratings and Reviews