Go to Top

Library

Greece in a monetary union: Lessons from 100 years of exchange rate experience, 1841-1939

Morys Matthias, (2016), “Greece in a monetary union: Lessons from 100 years of exchange rate experience, 1841-1939”, Voxeu, 10 Μay The first century of modern Greek monetary history has striking parallels to the country’s current crisis, from repeated cycles of entry and exit from the dominant fixed exchange rate system, to government debt built-up and default, to financial supervision by West European countries. This column compares these two episodes in Greece’s monetary …Read More

Where did the Greek bailout money go?

Rocholl, J., and A. Stahmer (2016), “Where did the Greek bailout money go?”, ESMT White Paper No. WP–16–02 This paper analyzes the flow of money for the different Greek bailout funds and concentrates on two key questions. First, where did the money come from? Second, where did the money go to? Finally, the paper discusses the findings in a broader context and derives policy implications. Figure 1 presents the main …Read More

Is Greek public debt unsustainable?

Darvas, Zsolt, Hutl, Pia, (2016), “Is Greek public debt unsustainable?”, Bruegel, 7 May Greek public debt does not look sustainable if the country has to return to market borrowing at the end of the third bail-out programme, but could be sustainable if preferential ESM funding continues in the long-term. Our advice is to offer hope for Greece in the form of delayed fiscal adjustment toward a target of 2.5% of GDP …Read More

The Greek Tragedy And Its Solution

Bernegger,Michael, (2016), “The Greek Tragedy And Its Solution”, Social Europe OP 8, June 2015 Ostensibly, the Greek crisis is about sovereign debt. It appears to result from a too expansionary fiscal policy and a loss in price competitiveness since the launch of the euro. This competitive weakness, it is claimed, can be attributed to an excessive rise in labour costs in relation to anaemic macroeconomic productivity growth. In reality, the core …Read More

How to Handle the Crisis in Greece? Empirical Evidence Based on a Survey of Economics Experts

Potrafke,Niklas, Reischmann, Markus (2016), “How to Handle the Crisis in Greece? Empirical Evidence Based on a Survey of Economics Experts”, CESifo Working Paper No. 5860, April 2016 We asked experts from 113 countries polled by the CESifo World Economic Survey for their opinions on how to handle the crisis in Greece. 61.9% of the experts surveyed were not in favour of Greece exiting the Eurozone in the course of the negotiations held in …Read More

Time for Debt Reduction in Greece

El-Arian, Mohamed A., (2016), “Time for Debt Reduction in Greece”, Project Syndicate, 22 April Once again, Greece is at an inflection point. With its cash balances severely stressed, it seems unlikely to be able to pay the cascading debt payments that are falling due over the next few months. So yet another round of contentious and protracted discussions with its creditors is underway – one that may well produce yet another short-term …Read More

As European Central Bank Convenes, How Well Has Maestro Mario Performed?

Spellman, James D. , (2016), “As European Central Bank Convenes, How Well Has Maestro Mario Performed?”, The European Institute, March2016 Euphoria in financial markets can burn off as fast as fireworks, an explosive flare-up and then, poof, gone. Many investors are wondering if the unprecedented initiatives by the European Central Bank, including negative interest rates, may be just like that, a cascade of fleeting embers. Others, though, think the restructuring underway …Read More

The Greek Pension Tragedy: A case of failure in Governance

Tinios, Platon, (2016),  “The Greek Pension Tragedy: A case of failure in Governance”, Konrad Adenauer Stiftung, 14 April The Greek pension system is one of the least successful in the world. Without providing income security at old age, it, nevertheless, hastened bankruptcy in 2010; six years later, pensions are about to derail the third successive bailout. The usual explanation splits the period in two: Failure up to 2010 was due to …Read More

In-depth Analysis/Greece’s financial assistance programme (March 2016)

Angerer, J., Hradiský, M., Ciucci, M.,Mesnard, B., Vega Bordell, J.,  Zoppé, A., (2016), “In-depth Analysis/Greece’s financial assistance programme (March 2016)”, EuroParl/IPOL PE 574.404, 5 Απριλίου After returning to growth in 2014 and showing unexpected resilience during the first half of 2015, Greece’s economy has contracted, though less than initially expected, in the second half of 2015. This contraction reflects sharp deterioration in confidence and renewed stress within the banking system during summer 2015 that ultimately led …Read More

An ever More Polarized Union: The Greek Problem and the Failure of EU Economic Governance

Notermans, Ton, (2016), “An ever More Polarized Union: The Greek Problem and the Failure of EU Economic Governance”, CESpapers – open forum #24  As the Greek economy continues on its downward trajectory, the policy debate has degenerated into a re-enactment of the neoclassics versus Keynesians controversy. Yet, the Greek crisis can be solved neither by more austerity and structural reforms nor by Keynesian reflation. The core problem lies in a form …Read More

Page 10 of 54«««...89101112...203040...»»»