Summary of The Greek Tragedy

Looking for the report?
We have the summary! Get the key insights in just 5 minutes.

The Greek Tragedy summary
Start getting smarter:
or see our plans




  • Analytical
  • Scientific
  • Background


Greece is far from a solution to its ongoing fiscal morass. Economist Hans-Werner Sinn outlines how, despite massive financial rescue missions, the Greek economy has deteriorated. He contests Greek arguments that the rescue package went solely to pay off euro-zone creditors and excoriates the government for, among other failures, not implementing the critical structural reforms that would help restore the country’s competitiveness and allow it a reprieve from the crisis. Sinn expertly presents one side of a multifaceted story, but some readers may find his tone, at times, somewhat brusque and dismissive. Though always neutral, getAbstract recommends this dense and detailed analysis to euro watchers everywhere.

About the Author

Hans-Werner Sinn is a professor at the University of Munich and president of the Ifo Institute.



The troika of the International Monetary Fund, the European Union and the European Central Bank has, as of late March 2015, allocated Greece credits of €325 billion [approximately $360 billion] to save its tottering economy. But despite the aid package’s kick-start to domestic demand in 2013 and 2014, Greece in 2015 is in recession. Between the first quarters of 2010 and 2015, Greece’s real GDP declined by 21%, and industrial production fell by 10%. Unemployment has soared from 11% to 26% over the same time period; roughly half of young people not in school are out of work. The nation has not made...

More on this topic

By the same author

The EEAG Report on the European Economy 2013
Can Germany Be Saved?

Customers who read this summary also read

And the Weak Suffer What They Must?
Tales from a Crisis
Cause for Concern?
World Economic Outlook April 2017
Climbing Out of Debt
The Euro as an International Currency

Related Channels

Comment on this summary