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Crisis Management in Greece

Giannitsis, Tassos and Zografakis Stavros, (2018), ” Crisis Management in Greece”, Macroeconomic Policy Institute, Study No. 58, January The aim of this study is to explore the impact of the crisis and crisis-induced policies on incomes, inequality and poverty in Greece, to detect the types of adjustment and to show why prevailing perceptions and attitudes caused a heavy economic, social and political cost. Based on extensive income and tax data …Read More

Why Greece Could Have Returned To Financial Markets Much Earlier

Theodore Koutsobinas,(2018), “Why Greece Could Have Returned To Financial Markets Much Earlier”, Social Europe, 22 January Α few weeks ago Athens persuaded private holders of about €30 billion in Greek debt to swap short maturity bonds for five new ones of longer maturity so as to improve market liquidity and push yield rates down before the country emerges from bailouts in August 2018. Actually, the 10-year bond dived swiftly below the …Read More

Betting on A Greek Recovery

Sotiris Nikas, Christos Ziotis, Nikos Chrysoloras, (2017), “Betting on A Greek Recovery”, Bloomberg, 12 December After suffering losses of more than $600 million in the country since 2014, the 67-year-old chairman and chief executive officer of Fairfax Financial Holdings Ltd. says he’s even willing to consider expanding his exposure to Greece. He’s particularly confident about a turn in the fortunes of Eurobank, in which Fairfax has an 18 percent stake, making it …Read More

How the Populist Right Is Redrawing the Map of Europe

Andre Tartar, (2017), “How the Populist Right Is Redrawing the Map of Europe”, Bloomberg, 11 December If 2017 looked like the year when moderate politicians took back Europe, look again. The election of centrist French President Emmanuel Macron and the reelection of German Chancellor Angela Merkel mask a rising tide of anti-immigrant and populist sentiment that is sweeping aside or weakening mainstream party politics across the continent. Relevant Posts Slawomir …Read More

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Greece – Economic forecast summary

OECD, (2017), “Greece – Economic forecast summary “, November GDP growth is projected to rise to 2.3% in 2018, and then moderate to 2% in 2019. Private consumption and investment will lead the recovery, responding to reduced policy uncertainty and gradually improving financial conditions. Exports should continue to increase, supported by rising external demand. Accelerating imports will subtract from growth in 2019. Excess capacity is diminishing but remains exceptionally large, …Read More

The Incredible Shrinkage Of The Greek Banking Sector

Kleingut, (2017), “The Incredible Shrinkage Of The Greek Banking Sector”, Observing Greece, 14 Νovember The Greek banking sector has undergone massive changes since the crisis culminated with the First Memorandum in the spring of 2010. The tables below show how the aggregated assets, liabilities and equity of all Greek banks (excluding the Bank of Greece) developed between June 2015 and September 2017. It should be noted that these are aggregated …Read More

The Greek great depression: a general equilibrium study of its drivers

George Economides, Dimitris Papageorgiou, Apostolis Philippopoulos, (2017), “The Greek great depression: a general equilibrium study of its drivers”, Bank of Greece Working Paper 234, September This paper provides a quantitative study of the main determinants of the Greek great depression since 2010. We use a medium-scale DSGE model calibrated to the Greek economy between 2000 and 2009 (the euphoria years that followed the adoption of the euro). Then, departing from …Read More

The Political Economy of Privatisation in Greece after the Economic Crisis

Özgün Sarımehmet Duman, (2017),  “The Political Economy of Privatisation in Greece after the Economic Crisis” , LSE Blog, 6 November Among other peripheral economies of the Eurozone, the emergence of the economic crisis in Greece has disclosed its structural specificities that the long been delayed reforms for improving not only the functioning of the real economy and the financial market but also their integration with the capitalist world have been put …Read More

Beyond Austerity: Reforming the Greek Economy

Meghir, Costas, Pissarides, Christopher A., Vayanos, Dimitri, Vettas, Nikolaos (eds), (2017), “Beyond Austerity: Reforming the Greek Economy”, The MIT Press More than eight years after the global financial crisis began, the economy of Greece shows little sign of recovery, and its position in the eurozone seems tenuous. Between 2008 and 2014, incomes in Greece shrank by more than 25 percent, homes lost more than a third of their value, and …Read More

3rd Economic Adjustment Programme Progress and short-term outlook

Anna Dimitriadou, (2017), “3rd Economic Adjustment Programme Progress and short-term outlook”, Eurobank Research, Global Economic & Market Outlook, 13 October The present report summarises the latest developments in the implementation of the 3rd Economic Adjustment Programme for Greece and provides an overview of the central issues of the upcoming 3rd review, such as key prior actions, privatisations and the position of the IMF as well as a broad timeline for the period ahead. Relevant …Read More

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