# How do Greece look at the economy



## Swedish student (May 31, 2021)

Hi! I am a Swedish student that is currently searching for some answer for my assignment. 
It is about EU and I am supposed to represent Greece as a country. I have a question that I can’t find the answer to.
How do Greece look at economy and how do they think EU should finance upcoming crisis?

Thank you for helping me


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## arbella11 (Aug 29, 2021)

Greece's current economic problem is linked to the country's inability to compete against other economies and the austerity measures, but we have to go back to 1995 to really understand why the situation is so bad right now. Bear with me. In the Greek case, it comes down to three elements: cheap credit, productivity and wages. Joining the Eurozone affected these elements by allowing wages to rise too much beyond productivity levels, while Kodi nox debt kept this state of affairs going until the bubble burst.


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