What is the reason for Greece being mixed from a developed country to a developing country?

Greece, a mysterious and beautiful place, struggled out of the embarrassing situation of economic recession after the European debt crisis in 2009. However, a sudden epidemic this year has This has dragged Greece into the threshold of economic crisis. According to EU forecasts, Greece will shrink by 10% economically this year, one percentage point more than during the most difficult period. You must know that during the most difficult period, American asset companies removed Greece from the list of developed countries and downgraded it to an emerging market country in view of the long-term shrinkage of the Greek economy.

Greece’s economy seems to be developing well in recent years, but under the surface of stability, there are many reasons that have caused Greece to fall back into the ranks of developing countries.

First of all, Greek civil servants enjoy extremely high benefits. This is also the position with the highest happiness index. Not only does it have the protection of a golden rice bowl, it also has benefits that are much superior to other positions. For example, if you work 5 hours a day, you can enjoy 14 months of income every year, and you will also have at least one month of paid vacation. The average salary is quite high, 1.5 times that of ordinary employees, and the retirement age of civil servants in this country is the highest in the world. They are all relatively early. You can retire at the age of 58 and receive a 14-month pension. This makes many young people in Greece keen to take the civil service examination instead of starting their own business or participating in the ordinary labor force of society.

Secondly, joining the EU has caused Greece to lose its independence in economic regulation. For a country to have stable fiscal revenue all year round and to be able to support these civil servants, the cost is also very high. Greece used large-scale foreign debt to fill the funding gap. Greece tried every means to join the Eurozone, and then found Goldman Sachs to cover it up through special operations. A public debt of 1 billion yuan. After joining the Eurozone, Greece lost its independent monetary and fiscal policies. When the economy was once weak, it could have increased the competitiveness of its export products through the depreciation of its currency, thereby stimulating the economy and earning considerable income from trade. , but after joining the Eurozone, it can no longer adjust the economy on its own, and all standards must be in line with other countries.