In countries hit by deep economic crises, like Greece, the population is facing tough decisions in order to make their country competitive and prosperous again.

Nevertheless, it is often through crises that countries can reconsider their economic policy and institutional structure and become stronger in terms of economic development. Sweden for example, experienced a severe economic crisis in the 1990s that resulted in a number of product and labor market reforms. Just a few years after the crisis, the Swedish economy was prospering with booming productivity growth.

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