After a Decade of Austerity the Greek Economy was Bouncing Back

By August of 2018 Greece was finally leaving behind a long grim period: eight years of grave austerity measures and continuous bailouts. The consequences of these years have been devastating for the Greek economy, with youth unemployment rising well over 50% at the peak of the crisis and GDP to debt ratio almost doubling within a decade. The summer of 2018 signaled — at least in theory — a new era for the Greek economy. It marked a turning point when Athens would not need to be any more under severe monitoring and the country could be self-funded by the tax revenue and government bonds traded in the global markets.