A New Growth Model for the Greek Economy: Requirements for by Panagiotis E. Petrakis

By Panagiotis E. Petrakis

On June three, 2015, the Greek Parliamentary price range place of work, the nationwide and Kapodistrian collage of Athens, the Democritus college of Thrace, and the collage of Peloponnese subsidized a world convention to deal with medium- and long term progress in Greece. This assortment provides the most powerful papers at the stipulations required to restore and hold financial progress. top specialists disguise virtually each significant factor pointed out within the most up-to-date literature, from demographic matters and recommendations for export technique to the necessity for innovation and structural reform. the mix of qualitative and quantitative techniques to assessing current stipulations make this ground-breaking assortment a precious source for quite a few teachers, specialist economists, and monetary coverage practitioners planting the seeds of Greece's future.

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The recent story of Europe has been a process of learning lessons about the appropriate character of the tax base. In the 1970s, with increased capital integration, many European countries discovered that they could not tax capital highly—as large companies would otherwise move their operations. Capital was too mobile, and especially smaller European countries adopted low rates of corporate taxation which contributed to stronger and more dynamic economic performance. With increased mobility of people, the same limits are being reached for personal tax: as President Hollande found when he introduced a tax on the super rich (over one million Euros), which brought unexpectedly little revenue, and which he was obliged to scrap.

At the same time, ensuring that people can move with dignity also requires the elaboration of a precise political program to stabilize the neighborhood of Europe. Europe cannot be an island in a sea of a humanitarian disaster. It needs to act effectively to end the chaos that is driving despairing people by the millions to a European safe haven. 9 COMMON PROJECTS: MILITARY UNION At the outset of the 1990s, many European leaders in the face of the new security challenge created by the collapse of communism and the Soviet Union emphasized that they needed to find a way to permanently secure European peace.

The cause of the crisis in Cyprus was the excessive size of its financial sector. Last, the causes of the crisis in the Baltic states (Estonia, Latvia, and Lithuania) were rapid credit growth, excessive capital inflows, large net foreign liabilities, property booms, and increasing wage and price inflation. However, although the countries described above achieved similar development in their key macroeconomic variables before the outbreak of the crisis, they subsequently followed divergent paths owing to the different degrees to which the crisis impacted them.

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