32 Pages Posted: 5 May 2015 Last revised: 6 Aug 2015

There are 2 versions of this paper

Date Written: July 30, 2015

Abstract

Should Greece remain in the Eurozone at the cost of continued deflation and recession? Alternatively, is it realistic to believe that Greece can return to prosperity by leaving the Eurozone and readopting its own national currency, the drachma? An answer to these questions requires an understanding of why Greece has suffered prolonged recession.