Debt Crisis and the Welfare State in Greece

The current Greek fiscal or debt crisis -putting at risk the euro and the modern welfare state - as well as the policies developed as a response to the crisis can be understood only when taking into consideration firstly some specific characteristics of the development model adopted in Greece since the 19th century and secondly those phase of the international capitalist system over the past 20 years which took the form of globalization and in particular its European “version”, i.e., the Economic and Monetary Union