Structural Changes or Possible Exit of Greece from the Eurozone?

Abstract

In Eurozone countries with a lower level of development, the current disturbances hit important sectors of the economy and have a more negative impact on economic enlargement and employment than in the rest of the Eurozone countries. In this paper we try to evaluate the Greek experience in the Eurozone and highlight the problem of competitiveness, which is related with the lower level of development. Finally, we examine whether and how much the evolving exchange rates contribute to the stability of the economy or, instead, to the aggravation of its imbalances. Finally, the conditions for exit from the crisis are presented, in order for Greece to continue to participate in the Eurozone.