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The Greek Economy and the perspective of its entrance in the zone of Euro

• Παλαιολόγος, Γιάννης Μ.

The purpose of this article is to investigate the procedure of the Greek economy quoting the basic macroeconomic indeces on one hand, and on the other hand the possibility of entrance of our country in the EMU in 1/1/2001. The main conclusion that results is that, with the exception of the inflation criterion, the other criteria of nominal convergence are satisfied, and as consequence, our country will be the 12th member in the zone of euro if the inflation continues to be reduced under 2%. However, as concern the real convergence (i.e. the rate of increase of GDP, the rate of unemployment e.t.c.) the situation is entirely different. There is divergence rather than convergence in the real economy in respect with the other countries of EMU. This means that the Greek economy it is necessary to try to succeed the real macroeconomic indeces. However the combination of the real convergence together with the nominal convergence of the Greek economy will permit the livable of the economy within the environment of the Monetary Union of Europe.

• Economics and Business

• Economics