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This article sets out to test econometrically the performance and determinants of NUTS III regions in Greece during the recent economic crisis. Results indicate that economic crisis has further intensified regional inequalities by strengthening the prominent role of Athens metropolitan region in the development map of the country. Advanced regions with higher specialization in tradable and export-oriented sectors adjusted better to economic crisis, although deeper integration with the EU market has not been favourable to regional performance. Finally, public policies that improve the productive and social capital of the regions seem to play an important role in deterring the crisis.