Die Griechische Volkswirtschaft in den siebziger Jahren
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Abstract
The characteristics of the Greek economy in the seventees have been the
continuation and even more the intensification of inflation, the deterioration of its barter terms of trade, mainly owing to the oil price rise and to the depreciation of the Greek currency in terms of the U.S. dollar, the unfavourable repercussions of the strained relations with Turkey on both the budget and the balance of payments, the uncertainty of the outcome of the négociations with the European Communities which led at last to the signature of the accession treaty in May 1979, last but not least the unsatisfactory operation of the public sector and even more of the governmental machinery. Despite these unfavourable developments the income per head reached in 1979 4.193 U.S. $, the export of manufactured commodities increased in a spectacular way and Greece can no more be considered as underdeveloped.
continuation and even more the intensification of inflation, the deterioration of its barter terms of trade, mainly owing to the oil price rise and to the depreciation of the Greek currency in terms of the U.S. dollar, the unfavourable repercussions of the strained relations with Turkey on both the budget and the balance of payments, the uncertainty of the outcome of the négociations with the European Communities which led at last to the signature of the accession treaty in May 1979, last but not least the unsatisfactory operation of the public sector and even more of the governmental machinery. Despite these unfavourable developments the income per head reached in 1979 4.193 U.S. $, the export of manufactured commodities increased in a spectacular way and Greece can no more be considered as underdeveloped.
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