Challenges for the Greek Economy and the Necessity of a National Strategy for the New Industrialisation of Greece

Abstract: This paper focuses on the research and analysis of the main systemic structural imbalances in the Greek economy, which require urgent addressing. We have shown that most of these imbalances originated during the Greek debt, financial and economic crises that emerged from 2010 onwards. We have examined in detail the causes of these crises and their long-term consequences, such as a structural shift in the Greek economy that could slow economic growth and hinder improvements in the standard of living of Greek citizens. We used a large database to conduct a comparative analysis of Greece with other countries in the EU and beyond based on key indicators, such as the economic complexity index, the innovation and competitiveness index and their underlying factors. Ultimately, we concluded that there is a need to develop a national strategy for the new industrialisation of Greece, to foster innovations, industries with high added value and address structural imbalances.