Mar 25
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Who is to blame for the Greek Economic Crisis?

A roundtable discussion presented and moderated by
Dimitris Lazopoulos, Instructor of Finance.

When: Monday, March 13, 15:00 – 15:50

Where: Deree Faculty Lounge

Organized by: Faculty Research Seminars 2016-17 Series


Bio

Bachelor in Economics, Athens University of Economics and Business; Master in International Affairs, School of International and Public Affairs, Colombia University.

Lazopoulos has been an instructor at the Department of Accounting and Finance, and the Department of International Tourism and Hospitality Management, at the Deree School of Business since 2000. Since 1987, Lazopoulos has held managerial positions in international banks in the field of wealth and asset management in Switzerland, Holland, and Greece, before establishing his own consultancy office in Athens in 2000.

His research focuses on the following areas: financial markets, valuation analysis and techniques, hospitality economics, developmental economics, distressed macro-analysis, and the philosophy of mathematics.

Abstract

The central idea presented is based on a 2015 ACG Review article, and it is that the collapse of the Greek economy was a predictable event, and that it was only a matter of time before it happened.

After a long-term developmental cycle of approximately 55 years with relatively high growth rates, the economy of Greece was due for an inevitable correction. From this point of view, the international debt crisis of 2007 simply exacerbated the local economic fall and the bursting of the financial bubble; it was only the pretext, not the real reason behind the country’s local financial havoc.

The theoretical foundation of this thesis, presenting the megacycle financial destiny of Greece from a new perspective, is based on the Kondratiev economic super cycles of the Russian economist Nikolai Kondratiev.