I will pay for the following essay Current Athenian Effort to Boost the Economy: Has Olympian Hype Helped. The essay is to be 10 pages with three to five sources, with in-text citations and a reference page.
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(OECD Territorial Reviews-Athens, Greece, 2004) Clearly, the success of its economy relies heavily upon foreign funds, (Kerin Hope, Oct. 97, pg. 13) whether in the form of tourism, or via loans from the European Union. Can this period of relative affluence be sustained, what role has the Olympic games in Athens played within the current Greek economy, and does it hold the key to maintaining prosperity
During World War Two, Greece displayed courage worthy of the history books by defying the Axis powers. Unfortunately, after the Allied victory, members of the resistance aligned themselves against the newly established Greek government and thus the Greek Civil War was born, (Iatrides &. Rizopoulous, spring 2000, pg. 87) plunging Greece into almost a decade of financial struggle which was then relieved by foreign aid. (Geographic Distribution of Foreign Aid Since WW 2, section 4) “Greece’s landscape was devastated by violence and poverty. In 1947, U.S. President Harry S. Truman gave Greece three hundred million dollars of military and economic aid, ensuring a temporary victory over communism.” (“Focus on Geography,” page 1.) This paved the way for the “Greek Economic Miracle” of the fifties. “The period between the late 1950s and late 1960s has been characterized as the era of the ‘Greek Economic Miracle’, during which GDR grew at the fastest rate in Western Europe, averaging 7.6 % annually throughout the 60s.” (“Comparative Analysis of Greek and Bulgarian Economies, page 1.) The seventies saw an end to the “good times,” of the Greek economy: “In the mid-1970s, Greece suffered declines in its GDP growth rate, ratio of investment to GDP, and productivity, and real labor costs and oil prices rose.” (“Background Notes on Countries of the World,” page 1.) At the dawn of the eighties, Greece pursued membership with the European Union (World Affairs, Spring 2002, pg. 178) for economic and political security. (West European Politics, March 2005, pg. 471) In the 90s, Greece continued to focus mainly on its membership within the EU, and the achievement of this endeavour was realized at the beginning of the new millenium. “The government has succeeded in reducing budget deficits and inflation, two key factors that allowed Greece to join the Economic and Monetary Union (EMU) on January 1, 2001. On January 1, 2002, Greece, along with 11 out of its 14 EU partners, adopted the euro as its new common currency.”(Background Notes on Countries of the World, Oct. 2003, pg. 3)
Membership to the European Union has qualified Greece for substantial grants to promote economic growth, both shortly after its inception, (“In October 1985, supported by a 1.7 billion European currency unit (ecu) loan from the European Union (EU), the government implemented a two-year ‘stabilization’ program with limited success.” [Background Notes: Greece, October 1996, page 1] )14 as well as in recent years: “Although living standards have risen steadily since Greece joined the then-European Community in 1981, it still qualifies for generous handouts from Brussels as the poorest member state in the Union.
“A big chunk of Greece’s ecu 15 billion ($16.8 billion) share of the current EU aid package for less developed EU members is being spent on modernising infrastructure.