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The lessons Quebec offers to Greece and Europe
Author(s) -
Mitsopoulos Michael,
Pelagidis Theodore
Publication year - 2018
Publication title -
managerial and decision economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.288
H-Index - 51
eISSN - 1099-1468
pISSN - 0143-6570
DOI - 10.1002/mde.2967
Subject(s) - independence (probability theory) , politics , convergence (economics) , european union , political science , root (linguistics) , political economy , perception , economy , economics , development economics , economic policy , law , economic growth , linguistics , statistics , philosophy , mathematics , neuroscience , biology
An assessment of the importance of Greece's potential Grexit during the recent crisis is made. Subsequently, the case of the independence movement of Quebec is examined to argue that once perceptions about the separation from a Union take root, they may propagate themselves for long periods of time entrenching an uncertainty that leads to concrete economic damage. Therefore, the need to accelerate “convergence in institutions” among the Union members is highlighted, as is the need to acknowledge that political developments in Greece are in line with the predictions of a growing literature on the causes and impact of political risks.