Fifteen years after the Global Financial Crisis: Recessions and Business Cycles in the History of Economic Thought

The Eurozone crisis, the IMF and Greece: A history of economic thought approach

Psalidopoulos Michalis, American College of Greece, University of Athens

The purpose of this paper is to address the financial crisis of 2008 and its implications for the Eurozone and for Greece in particular from a history of economic thought perspective. Particular importance will be given to the IMF and to its way of handling financial crises. Topics to be discussed include economic thought in the constitutional foundations of the European Union, as opposed to those developed in an international economic organization, and the relation between economic thought and its application/or not in economic policy in individual or in a group of countries. Special attention will be given to Greece , a case study of a Eurozone country in crisis from 2010 to 2018, that helped define a new approach in handling economic crises in a single currency area.

Area: Eshet Conference

Keywords: Eurozone crisis, economic thought and policy to avert/prevent economic crises

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