Özet:

This article evaluates the economic problems of Greece, a member of the EU, following the world financial crisis of 2008. It attempts to draw a theoretical framework on how policies of European Monetary Union (EMU) and the European Central Bank (ECB) may affect the economies of the Eurozone member countries with different levels of economic development. It specifically takes the economic conditions and the policies followed by Greece before and after the EMU membership into consideration in a historical manner. Also this article reviews the discussion on the basic dynamics and reasons that led to the sovereign debt crisis, namely, whether the internal factors (such as policy style of Greece, the effects of interest groups, or inefficiencies of the economic structure, etc) or the external factors (such as policies of EMU).

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