Research Article Open Access

European Union and a Cost Benefits Analysis for its Members: The Case of Historic Greece

Ioannis N. Kallianiotis1
  • 1 University of Scranton, United States


Problem statement: This study tried to determine the cost and benefits of Greece before and after joining the European Union and some of the problems that the current European (and the prospective Euro-Asian) Union has created to all European citizens. Approach: The most severe ones were the social chaos, which was increasing every day, due to the current financial crisis and the worst recession since the great depression of 1929-1930; the economic and political corruption, which were underrated by the officials and the tremendous uncertainty that this artificial and controlled "creature" has generated to its member-nations and their citizens. Results: Europe has a seven thousand years old history, which came from the ancient Hellenic (Greek) civilization and was complemented by Christianity and does not have the right to go backwards. Hellas (Greece) experienced and continues to have many difficulties, conflicts and invasions by barbarians and other neighboring countries. But at the same time, many good periods with tremendous contribution to the global scene are recorded. After WW II, the nation and citizens enjoyed a huge growth, a stable development, a multiple improvement and a preservation of their traditional social values. Lately, the fear from her neighbors and the pressure from her "friends" made Prime Minister, Constantinos Karamanlis, to "throw Greeks in the deep [but not very clean] waters of the European Union". Conclusion: This European integration has destroyed the sovereign nation-states and it is ruling undemocratically an entire continent. Its economic and social policies could not satisfy any welfare functions for the Europeans. Overall, the cost of the European Union exceeds manifold its benefits.

American Journal of Economics and Business Administration
Volume 1 No. 2, 2009, 57-78


Submitted On: 12 May 2009 Published On: 30 June 2009

How to Cite: Kallianiotis, I. N. (2009). European Union and a Cost Benefits Analysis for its Members: The Case of Historic Greece . American Journal of Economics and Business Administration, 1(2), 57-78.

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  • Economic welfare
  • economic integration
  • economic and monetary union
  • unemployment
  • public policy