European Economics and Politics in the Midst of the Crisis by Panagiotis E. Petrakis Pantelis C. Kostis & Dionysis G. Valsamis

Author:Panagiotis E. Petrakis, Pantelis C. Kostis & Dionysis G. Valsamis
Language: eng
Format: epub
Publisher: Springer Berlin Heidelberg, Berlin, Heidelberg

The original program estimates were very incorrect for Greece and less so for Ireland and Portugal. In all three countries, however, the increase in unemployment levels was significantly underestimated. For inflation, the anticipated development matched the actual development for Ireland and Portugal, but in the case of Greece the anticipated inflation proved much lower than the actual. Finally, the improvement of the current account balance was generally better than anticipated owing to the dramatic decrease in imports (particularly in Greece and Portugal).

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