Greece: The Paradox of a European nation

Oh Plato, if only you knew...

Greece is among the first summer destination in the world. It is known for its thorough philosophical studies, it has birthed democracy, tragic theater, and so much more for Europe and the world... Yet it seems that it is only remembered for it's delicious feta cheese, Mykonos and My Big Fat Greek Wedding (2002). Today, Greece is the 11th poorest country in Europe and its people is the heir to values which date back to Ancient Greece and a huge economic crisis.

What were the most prosperous times in Greece?

The Reconstruction Years 1952-1953

When the country was facing the consequences of multiple miserable centuries of the Ottoman occupation (mid-15th century to 1822), World War II (1939-1945) had begun. Once the German troops left, a Civil War broke out (1946-1949). This Civil War opposed the British royal family - head of the Greek Kingdom - and the Land Force, which was a carrier of communists political leanings. Greece was left with no infrastructure and energy to get back in the saddle and there was a significant decline in its productivity. In other words: recession. After the British left, the USA began supporting Greece with a Marshall plan. Additionally, the nation joined Europe in 1944 at the Bretton Woods conference to set international measures for national progress. The United States' successful 1950s budget plan facilitated the growth of the primary sector. The number of exchanges between Greece and its surrounding nations had increased.

This marked the very beginning of socio-economic changes for Greece.

The years of stability 1952-1961

Indeed, the strict budget plan specifically designed for Greece by the United States was the beginning of true peace and serenity for the greek people. Inflation had decreased and as the country was gaining more autonomy the American helping hand became lighter. A. Papagos, the prime minister (1952), instituted the Markizinis laws, which freed the economy and established a ship register, positioning the nation as a major crossroads in Europe and the world.

One thing is sure, thanks to the European western countries and the USA, Greece found the strength to exploit its resources and use its tools to rebuilt itself economically, politicly and socially by following the western model. Unfortunately for Greece, that prosperity only ran between 1952-1973 as a result of dissonant measures which lead to the current decline today.

What happened between 1962 and 1973?

Stay tuned! xoxo