Publication

This commentary uses labor market and economic performance data for Greece and the eurozone to weigh in on the debate on the role Greece played in the creation of its financial crisis. The author finds that the Greek economy contracted sharply following the global economic crisis, resulting in greater unemployment and severe material deprivation rates in Greece than in the eurozone overall. However, she also argues that less corruption and better implementation of economic reforms could have led to a better national response to the crisis and a quicker recovery.