Greece Economics

Topics: Political party, Inflation, Unemployment Pages: 3 (946 words) Published: August 24, 2013
POLITICS, ECONOMY AND BUSINESS IN GREECE
POLITICAL STRUCTURE

Greece is fundamentally a Parliamentary state with President as the Head of state. The president is elected by the parliament for a period of 5 years. Powers of President mostly include ceremonious duties like declaration on war, signing peace treaties etc. The members of parliament are elected through general elections held every four years or earlier if the previous parliament is dissolved. Prime Minister (PM), head of government, is generally the leader of party having majority of seats in Parliament. President appoints other Ministers of cabinet on the recommendations of the PM. PM and the cabinets are responsible for running the country (“Central and South-Eastern Europe” 288). The Panhellenic Socialist Movement (PASOK), New Democracy (ND), Political Spring, Communist Party of Greece (KKE), and the Coalition of the Left (SYNASPISMOS) are major political parties in Greece. Legislative powers lie with president and parliament and a law is passed if it is voted by 2/3 of the members of parliament. The judicial system comprises of civil and administrative courts. Jurisdiction of Civil court includes civil and criminal cases whereas administrative courts settle the cases between citizens and the state. The politics of Greece is marked with overthrown leaders, military governance and dissolved or coalition government. In 1975, the country experienced some civil reforms and a new constitution in place. PASOK has emerged as the dominant political party in Greece during last 3 decades. The party after its reelection in 2000 increased spending to recover economy and provide basic facilities of better health, education and better job opportunities to its citizen (Puddington, Piano, Neubauer 288) ECONOMIC TRENDS

For more than a decade, extensive borrowing and spending by the government has led the country into public debt crisis. Tax evasion rampant in Greece that translated added to government’s...

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Wheatley, Alan and Karolina Tagaris. “Analysis: Greek economy pays high price for its high prices” .Reuters .Thomson Reuters , 22 Nov. 2012. Web. 02 Apr. 2013.
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