Alas (Hellas), there is no Hope: It’s not a Crisis, it’s a Culture

Author(s): Peter J Stavroulakis, Markella Koutsouradi, Maria-Christina Kyriakopoulou-Roussou, Periklis Prousaloglou

The domain of financial crises has provided public rhetoric, along with research and policy, a wide range of leeway for analysis, modelling, and interpretation. In many and diverse cases throughout the world, different strategies for the mitigation of financial crises have presented an array of divergent results. One case of a crisis that is prevalent, is that of Greece. This crisis is standing tall for more than a decade; bailouts have given their place to more bailouts, austerity has brought much of the same, and there seems to be no end in sight. Through the structured comparative results of qualitative research, with the incorporation of dashes of Hellenic realism, a theoretical framework as to the decisive factors of the Hellenic financial crisis is formulated. The framework may be applicable not only for the Greek case; it might be found to hold a more generic dimension, and role, within our global society.