On the Greek economic crisis of 2009–2012: Fundamental causes and effects; future prospects for Greece and Eurozone
Streszczenie
The aim of this paper is to present the economic, social, political and moral causes and effects
of the Greek debt crisis. The debt and deficit figures for Greece are presented. The causes of
the crisis are: (a) corruption, (b) tax evasion and deposit of the stolen money in tax heavens
(c) inefficiency of the public sector, (d) absence of transparency practices in the system of justice,
in the areas of health, education, defense and labor, (e) excessive consumption habits of the
Greeks, (f) lack of entrepreneurial and innovative spirit among the Greeks, (g) excessive debt and
non-permissible budget deficit. The consequences are: (a) unemployment, (b) poverty, (c) social
exclusion, (d) rising inequalities as it is shown by original research on Gini coefficient,
(e) homelessness, (f) health problems, (g) rising suicide rate. Future prospects are: possible
exclusion of Greece from Eurozone because of inability to repay debt and to reduce deficit.