The Entry of Greece Into the European Union: Fulfillment of the Maastricht Treaty
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This paper discusses the path, which Greece followed in order to become a full member of the European Union and steps that it took to successfully adopt the Euro as a member of the European Monetary Community. In contrast to many European countries, with the exception of the later entrants of Spain and Portugal, Greece's entry into the EU marked the end of a perilous and destructive dictatorship. Following the expulsion of the junta Greece once again struggled to attain a foothold on democracy. To ensure a lasting democracy the economically weak Greece actively pursued entry into the European Union, which lent a very supportive had to ensure democracy in the small Mediterranean country. The EU donated much needed financial aid that allowed Greece to stabilize internally to some degree. After the January 1981 entry into the EU Greece began to experience times of political unrest. Several parties led the. countries for the next 15 years starting with the Pan Hellenic Socialist Movement (PASOK), turning to the New Democracy, and finally again to PASOK. It was with the leadership of the PASOK party that Greece began to move toward discussion of entering the one currency Europe of the EMU. Small movements were made in the beginning of the 1990's. Later in the decade with the election of PASOK party member Costas Simitis as Prime Minister of Greece events began to unfold rapidly through strict economic policy- primarily through tightening monetary policy. By 2001 Greece was a full member of the EMU and accepted the Euro with the rest of European members. Greece continues to grow and still struggles to keep up with its dominant neighbors.