Policy Article

The Crisis in Southern Europe: Testing Greece, Portugal and Spain (original publication German only)


  • Klaus Schrader
  • Claus-Friedrich Laaser
Publication Date

Many think that a Greek bankruptcy could have a domino effect on other Southern European countries such as Portugal and Spain. The authors examine the economic causes of the crises in Greece, Portugal, and Spain in their contribution. They compare economic developments in these three countries and find that there is little reason, from a real economic perspective, to expect that there will be a domino effect.


Key Words

  • Debt crisis
  • economic development
  • Economic Structures
  • Greece
  • Portugal
  • Reforms
  • Spain