Expensive Living: The Greek Experience under the Euro

Apart from its widely accepted direct advantages, the introduction of the euro has been widely perceived as causing a surge of inflation in most of the EU member states. Particularly in Greece there has been a decided shift in sentiment concerning EMU membership. Is the common perception among Greeks that the euro has been the primary cause of recent price hikes correct? The authors wish to thank Y. Stournaras and P. Kazakos for their helpful comments and suggestions. The usual disclaimer applies.