Ten years after Greece’s accession to EMU, the venture has proved to be almost a complete failure. Obviously, the country joined EMU disappointingly unprepared. After EMU accession, Greece failed to seek the necessary adaptations. Its economic policy was inconsistent with the economic logic...

It is again being argued that the low labour costs and social standards in countries on the periphery of the EC - Greece, Ireland, Portugal and Spain - jeopardise employment in the northern EC countries and the social safety net they have constructed. A common social policy harmonising...