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Greece from Postwar Orthodoxy to “Democratic Peronism” [EN]

Greece from Postwar Orthodoxy to “Democratic Peronism” [EN]

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A cura di @reislaufer.

Il blog di pseudoerasmus propone una scorsa delle politiche economiche greche dalla seconda guerra mondiale ad oggi, con un’attenzione particolare per l’anomalia e la rapidità del cambiamento dell’atteggiamento del governo negli anni 80.

Between the end of the civil war in 1949 and the first oil crisis of 1973-74, the Greek economy was characterised by rapid growth, low inflation, high rates of investment, government budgets in balance or moderate deficit, and a relatively small public sector. Its persistent external deficits were always offset by private capital inflows, with remittances from Greek workers in northern Europe helping out […]

But the real sea-change happened with the second oil shock of 1979-80 and Paul Volcker’s decision to disinflate the US economy. The deep global recession which ensued helped produce, in Greece, the historic landslide victory of the firebrand-populist Pan-Hellenic Socialist Movement in the election of 1981.[…]

PASOK quickly embarked on populism on an extravagant scale, inviting comparisons with some famous cases in Latin America, except Greece was an EEC member by 1981 and a recipient of European regional development funds.

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