The modern Greek economy, although the Balkans' strongest, is the European Union's weakest, and in the throes of a prolonged crisis. This makes Greece's participation in EMU doubtful and weakens her defence capability at a time of mounting foreign pressures and even threats to her sovereignty. Greece therefore needs to improve her economic performance dramatically - and fast.

Such a turnaround presupposes appreciation of how and why Greece, described here as a capitalist, statist, smallholder society, has lost ground. The book, therefore, takes both a broad and detailed view of her economy, from its growth, the public debt and inflation, to banking, social security, industry, housing and tourism. Blending quantitative and institutional analysis, it identifies the social and political factors responsible for Greece's plight and suggests a course for recovery.