1. Economic Crisis and Public Sector Students:  Natalia Iasonidou 2390  Marianna Efstathiou 2381  Konstantinos Kalaidzidis 2161  Myrto Georgopoulou 2357

2. Content. 1.Introduction 2.What does “economic crisis” means? 3.How did the debt started to form? 4.What does the public sector incudes? 5.The global economic crisis. 6.Disadvantages of the public sector. 7.How the financial crisis effect the public sector and the economy? 8.How can pubic sector lead to economic growth

3. What does “economic crisis” mean? Economic crisis its situation in which a country experiences a sudden fall caused by a financial crisis.

4. How did the debt started to form? In 1920  the year when was introduced to the public instalment buying and credit cards. Debts was started to form. Financial crises are based on the same principals.

5. What does the public sector incudes? The public sector includes general government, public corporations and organizations. Public sector General Government Public services

6. Global economic crisis The crisis first strikes USA in 2007. In 2008 the crisis spread in European countries such us UK, German and Denmark.

7. Disadvantages of the pubic sector. Large size Costly Money is not effectively spent. Funds are not invested in competitive projects Bureaucracy Corruptness

8. How the financial crisis effect the public sector and the economy? High rates of unemployment Lower salary Bank loans Decrease of the retirement benefits Higher taxes

9. The decrease of the employment rate in public sector; pre-crisis and post-crisis.

10. Productivity.

12. Average Real Wages of employees of Greece. EURO

13. What can help? Taxes system Decrease of the size Productive Export of products Stinger penalties Exploitation of the goods of the country.

14. References. http://www.investorwords.com/3947/public_sector.html http://ftp.iza.org/dp4948.pdf http://www.ebooksmagz.com/pdf/the-public-sector-in-the- crisis-352501.pdf http://www.ebooksmagz.com/pdf/the-public-sector-in-the- crisis-352501.pdf http://www.cbc.ca/news/business/pension-crisis-a-global- problem-1.2478858 http://www.cbc.ca/news/business/pension-crisis-a-global- problem-1.2478858 http://whatis.techtarget.com/definition/public-sector http://www.tovima.gr/finance/finance- news/article/?aid=257482 http://www.tovima.gr/finance/finance- news/article/?aid=257482 http://prowthisi.blogspot.gr/2010/05/blog-post.html http://www.ineobservatory.gr/sitefiles/files/report4.pdf Annual macroeconomics database