Titlebook: A New Growth Model for the Greek Economy; Requirements for Lon Panagiotis E. Petrakis Book 2016 The Editor(s) (if applicable) and The Autho

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https://doi.org/10.1057/9780230510678ed. As a result, nominal wages collapsed, but prices remained stable. This aggravated the fall in household disposable income and domestic demand. As a result, price competitiveness and consequently foreign demand did not improve, making the recession harsher than expected.

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Ethical and Aesthetic Meaning and Experience as non-financial sectors’ balance sheets. We extend the analysis to the sovereign and the central bank and explain how a unilateral exit from the euro area could trigger a dangerous sovereign-bank feedback loop. We conclude that a “Grexit” would be very costly in the short term.

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Religious Meaning and Experiencelleviate the burden of the state and will simultaneously allow the reinvestment of the accumulated funds. Such a reinvestment will return value, as the funded pension scheme will invest in state or corporate bonds and equity, of even small and medium enterprises, therefore contributing to the economy’s growth.

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The Rationality of Religious Beliefy statistical test. Finally, forecasts for the trend of the unemployment rate until July 2015 are provided, which are based on a time series model. These forecasts can be used as an upper rate of unemployment. Unemployment rate above these forecasts points out the deterioration of the situation.

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Salvation/Liberation as Human Transformation the euro face fiscal constraints that force austerity. This chapter proposes a direct job creation program modeled on the American New Deal, funded by the center to promote full employment through “fiscal transfers” that would relieve the constraints.

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