In political economy, the economic policy choices adopted by a society, as a result of internal social pressures, political balances, and external constraints, have a defined theoretical and ideological background and serve the economic interests of specific social groups. In the era of "globalization," these social, institutional, and political elements in determining economic policy choices are concealed, while the dominant neoliberal policy mix that prevails today appears as neutral and universal.
The purpose of this study is to explore the basic characteristics, content, and consequences of the economic policy implemented in Greece in the 1980s and 1990s. The ideological dominance of the market, the globalization of money and capital markets, and Greece's accession to the Economic and Monetary Union are now the critical constraints on policy and the determining factors of the new framework for economic management in our country. The study highlights the neoliberal adaptation of economic policy by examining the country's political-electoral cycle and interprets the evolution of key balances and structural problems of the Greek economy and its convergence with the EU. The analysis concludes with the need to search for a new economic policy mix with a social and developmental orientation in Greece and the EU.