Greece 's Impact On The Economy

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A country who’s economy was devastated by the monetary exports demanded of them by the second world war, Greece has shown great financial fluctuation and vulnerability within the last 80 years, resulting in one of the most disputed economic records in the history of the European Union. Dubbed the ‘Greek Economic Miracle’, Greece showed great resilience throughout the 1950’s and 1960’s, with credit to their superior food trade and shipping industry, continuing to produce high levels of economic growth in contrast to others that had also been affected by the war. With the Treaty of Accession (1979) entering into force on 1st January 1981, Greek’s commitment to the European Communities (European Union) proved pivotal regarding it’s controversial qualification into the Eurozone in 2000. Owing to this, in an attempt to recover the unstable foundations of its economy, Greece has since been subject to various regulations and measures of austerity, leaving what was once a highly commended country both financially and socially, in a deplorable state of desperation.

In 1994, tourism within Greece saw an unparalleled boost, with 11.4 million people traveling to the country, against the 33,000 that were reported to have entered the country over half a century previous, in 1950. A statistic that continues to rise, with over 17.9 million tourists entering Greece in 2013, generating more than 13 billion euros in revenue. Despite such positive figures, 1996 saw a dramatic downturn in
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