The cause of the economic crisis, Greece The first cause of The deficit of the public sector by the year 2552, the fiscal deficit of Greece stood at 12.7% of GDP, well above a reasonable level, the EU set out to about four times the deficit of the public sector of government that result. Greece's public debt soared to 112.6% of GDP in 2552, well above the level that the European Union set up nearly two-fold.
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