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Greek protesters during a referendum on EU bailout terms in (Photo: desbyrnephotos)

Lessons for EU from the Greek tragedy

The Greek financial crisis has been the greatest economic tragedy in Europe since World War II. Fortunately, it has abated, allowing us to draw learn from this disaster, which instructs us how the European Union ought to develop.

According to Eurostat, the cumulative decline in Greek gross domestic production from 2008-13 was no less than 30 percent. GDP contracted marginally in 2015 and 2016 as well, so Greece recorded eight years of shrinking output.

Other statistics are simila...

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The views expressed in this opinion piece are the author’s, not those of EUobserver

Author Bio

Andrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.

Greek protesters during a referendum on EU bailout terms in (Photo: desbyrnephotos)

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Author Bio

Andrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.

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