Van Hulten, Michiel, (2015), “Why debt relief could save Greece but would destroy the Eurozone”, LSE blog, 6 July
Should Greece now be granted more favourable terms by its creditors following the ‘no’ vote in the country’s referendum? Michiel van Hulten writes that while most economists view some form of debt restructuring as necessary for Greece to recover, it would be exceptionally difficult politically to sell the principle of debt relief in other Eurozone countries. He argues that by voting ‘no’ Greece has effectively closed the door on the rest of Europe and that although the Eurozone may be able to cope with a Grexit, it could never survive an electoral revolt among its citizens.
Relevant Posts
- El-Erian, Mohamed, (2015), “10 Consequences of Greece’s ‘No’ “, Bloomberg View, 6 July
- Ruparel, Raoul, (2015), “No in Greek referendum marks profound change for Europe no matter what happens next”, Open Europe blog, 5 July