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The Twin Deficit as an Early Warning Sign in Avoiding Crises: The Case of Greece

The Twin Deficit as an Early Warning Sign in Avoiding Crises: The Case of Greece

Stephanos Papadamou, Eleftherios Spyromitros
Copyright: © 2016 |Pages: 22
ISBN13: 9781466694842|ISBN10: 146669484X|EISBN13: 9781466694859
DOI: 10.4018/978-1-4666-9484-2.ch015
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MLA

Papadamou, Stephanos, and Eleftherios Spyromitros. "The Twin Deficit as an Early Warning Sign in Avoiding Crises: The Case of Greece." Handbook of Research on Financial and Banking Crisis Prediction through Early Warning Systems, edited by Qaiser Munir, IGI Global, 2016, pp. 310-331. https://doi.org/10.4018/978-1-4666-9484-2.ch015

APA

Papadamou, S. & Spyromitros, E. (2016). The Twin Deficit as an Early Warning Sign in Avoiding Crises: The Case of Greece. In Q. Munir (Ed.), Handbook of Research on Financial and Banking Crisis Prediction through Early Warning Systems (pp. 310-331). IGI Global. https://doi.org/10.4018/978-1-4666-9484-2.ch015

Chicago

Papadamou, Stephanos, and Eleftherios Spyromitros. "The Twin Deficit as an Early Warning Sign in Avoiding Crises: The Case of Greece." In Handbook of Research on Financial and Banking Crisis Prediction through Early Warning Systems, edited by Qaiser Munir, 310-331. Hershey, PA: IGI Global, 2016. https://doi.org/10.4018/978-1-4666-9484-2.ch015

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Abstract

By analyzing the causes and consequences of Greek debt crisis, we identify early warning fiscal and financial signals. The existence of twin deficits for a number of years can be characterized as the key fiscal indicator concerning the debt problems faces Greece. Moreover, indicators from the banking sector also reveal significant information for the Greek crisis. The interdependence of banking and government sectors and opportunistic political behavior can affect dramatically a small economy. Common currency reveals structural weaknesses of the Greek economy.

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