financial crisis and "troika" programme caused the need for harsh austerity measures in Greece. In addition, there is a … influence. Therefore, local options in Greece were limited, and local governments had to focus on spending cuts, whereas German … implementation of fiscal rules and the "top-down" actions of supervisory bodies in Greece fundamentally exceed German practice …

and current account deficits, which have in turn driven Greece’s foreign indebtedness to alarming levels, necessitating … the current bailout by the EU/ECB/IMF. -- debt ; deficits ; political economy ; fiscal crisis ; Greece …