Greece and the Eurozone

This thesis is a complex overview into the nature and causes of the Greek crisis. It inquires lost competitiveness in Greece and the role of the Eurozone in this process. It is a deep analysis covering wide range of issues regarding Greek crisis: creation of the Eurozone as an optimal currency area, Greek structural problems, Eurocage problem, and cheap credit boom resulting in overconsumption and welfare state creation. Moreover, it offers unorthodox explanation of the Greek crisis through the Austrian monetary business cycle theory. Final part discuss outcomes of this crisis and possible solutions. Its purpose is to offer complex information and knowledge about Greek crisis to both, professionals and noon-professionals. Its findings are that bad institutional set up of the Eurozone since its establishment is the main cause behind current crisis.