The euro or globalization?
Dimitris Mardas
To dilemma euro or drachma back at various times considered turning periods for the Greek economy. Many blame for the reduced competitiveness of Greek products in euros, so consider that a return to the drachma would give us the lost ground.
By chance these analyzes ignore the immediate past of cheap drachma and its impact on exports. Be remembered just that despite the spectacular 'dive' drachma from 1980 to 2000 (1980, $ 1 = 42.6 Drs. 2000, 1 USD = 308.9 dr.), The country's exports barely doubled while imports soared.
Note however that for hard euro between 2000 before collapsing in 2009, exports 10 billion. Topped 25 billion. Dollars. On the other course yperdiogkothikan imports. For the latter, of course not responsible Euros, but the open international environment and volatile economic policy of Greece, which strengthened the overused.
So the reason for the disintegration of domestic production, will not find it in the currency, but in the globalized environment and omissions of domestic economic policy.
Specifically, the de-industrialization of the country did not begin with the integration of the euro, but with the opening of European and international market to competition, but limiting the protection of domestic production.
To dilemma euro or drachma back at various times considered turning periods for the Greek economy. Many blame for the reduced competitiveness of Greek products in euros, so consider that a return to the drachma would give us the lost ground.
By chance these analyzes ignore the immediate past of cheap drachma and its impact on exports. Be remembered just that despite the spectacular 'dive' drachma from 1980 to 2000 (1980, $ 1 = 42.6 Drs. 2000, 1 USD = 308.9 dr.), The country's exports barely doubled while imports soared.
Note however that for hard euro between 2000 before collapsing in 2009, exports 10 billion. Topped 25 billion. Dollars. On the other course yperdiogkothikan imports. For the latter, of course not responsible Euros, but the open international environment and volatile economic policy of Greece, which strengthened the overused.
So the reason for the disintegration of domestic production, will not find it in the currency, but in the globalized environment and omissions of domestic economic policy.
Specifically, the de-industrialization of the country did not begin with the integration of the euro, but with the opening of European and international market to competition, but limiting the protection of domestic production.