Greece as a cautionary tale, not a morality play

Abstract: Hiding behind the simplistic narratives that evolved during the Greek economic crisis has masked the collective failure that triggered an economic collapse in Greece and the timid way the Eurozone reacted. The last decade has revealed weaknesses and imbalances across the Eurozone, the effects of which have mostly been felt by countries in the South, not just in Greece. The attempts to address some of these shortcomings have hit a wall. Failing to overcome this obstacle will leave the Mediterranean member states exposed and unity within the EU at risk when the next crisis hits.

Keywords: Economic crisis, Greece, Eurozone.

Article posted to Journal of the British Academy, volume 8, supplementary issue 1 (A Mediterranean Perspective on European Union and Disunion).