ABSTRACT
The Greek crisis that erupted in 2009 is part of the 2007–08 global capitalist crisis. The latter is the first major crisis of the 21st century and, because of its structural nature, it has long-term repercussions. This chapter presents main competing explanations of Greek crisis and how they confront the problem of the productive model. It analyses the strategies that emanate from them the strategies and what role has productive restructuring within them. The chapter acts as conclusions by proposing a strategy of disengagement from the European Union (EU). Neoliberalism is a good ideological tool for the ruling class but an extremely ineffective tool for economic policy because of its unrealistic assumptions. Orthodoxy has an extremely weak crisis theory precisely because it is based on the belief that capitalism—both in the long- and the short-term—is a perfect system. Heterodoxy is composed of currents that share most of the fundamental analytical and methodological framework of Orthodoxy but question some critical assumptions.
