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Holding out for a better deal: Brinkmanship in the Greek bailout negotiations

Pitsoulis, Athanassios, Schwuchow, Soeren C., (2016), “Holding out for a better deal: Brinkmanship in the Greek bailout negotiations”, European Journal of Political Economy, 9 September Greece and its creditors concluded negotiations over a third bailout by signing a Memorandum of Understanding on 19 August 2015. The dominant view among most economic policy analysts and commentators seems to be that the actions of the Greek government in the months before the deal had …Read More

This radicalisation which is not one: contentious politics against the backdrop of the Greek crisis

Voutyras, Savvas, (2016), “This radicalisation which is not one: contentious politics against the backdrop of the Greek crisis”, Journal of Contemporary European Studies, Volume 24 Issue 2, 4 March Since the eruption of the Greek economic crisis in 2010 and the introduction of austerity policies, Greece’s public space has become a theatre of intense political conflict in the form of social unrest, mass mobilisations, symbolic and physical clashes and political instability. …Read More

Political budget cycles and reelection prospects in Greece’s municipalities

Chortareas, Georgios, Logothetis, Vasileios, Papandreou, Andreas A., (2016), “Political budget cycles and reelection prospects in Greece’s municipalities”, European Journal of Political Economy, Μay This paper considers the presence of political budget cycles in Greece’s municipalities. We construct a new dataset from primary sources and we find strong evidence of pre-electoral manipulation through increased expenditures and excessive borrowing. We use a dynamic panel data approach producing evidence of opportunistic behavior in local government …Read More

The spatial aspects of economic crisis in Greece

Petrakos, George, Psycharis, Yannis, (2016), “The spatial aspects of economic crisis in Greece”, Oxford University Press, Cambridge Journal of Regions, Economy and Society, Issue 1, Volume 9, pp. 137-152, March. 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. …Read More

Financial assistance to Greece: Three programmes

Colasanti, Fabio, (2016), “Financial assistance to Greece: Three programmes”, European Policy Centre, 26 February. There are a lot of myths surrounding the bailout money that was given to Greece. Many people still believe that the money never went to the Greek people, but to the Greek and European banks; that the intervention of the euro-area governments and the IMF dealt almost exclusively with the Greek debt; that very little money was used …Read More

Clientelism and economic policy: hybrid characteristics of collective action in Greece

Trantidis, Aris, (2015), Clientelism and economic policy: hybrid characteristics of collective action in Greece, Journal of European Public Policy, 11 November How does clientelism affect policy-making? Can patrons in government discard groups of clients in order to pursue reforms in conditions of crisis? The article argues that clientelism goes beyond the exchange of votes and may permeate organizations with the capacity for collective action such as labour unions. This merger gives rise to …Read More

How long before growth and employment are restored in Greece?

Papadimitriou, Dimitri B., Nikiforos, Michalis, Zezza, Gennaro, (2016), “How long before growth and employment are restored in Greece?”, Levy Economics Institute of Bard College, Strategic Analysis, January. The Greek economy has not succeeded in restoring growth, nor it has managed to restore a climate of reduced uncertainty, which is crucial for stabilizing the business climate that promotes investment. On the contrary, a new round of austerity measures that has agreed upon will imply another year of …Read More

Reform momentum and its impact on Greek growth

Terzi, Alessio, (2015), “Reform momentum and its impact on Greek growth”, Bruegel Institute, 29 July. Greece has an imperfect track-record of structural reform implementation. However, the poor growth outcome of the Greek programmes is also a consequence of the timing and composition of reforms, which were not optimally geared towards a speedy transition to a new growth model based on the private sector. While the main responsibility for this lies …Read More

Preserving the Greek financial sector: options for recap and assistance

Merler, Sylvia, (2015), “Preserving the Greek financial sector: options for recap and assistance”, Bruegel publications, 13 July The draft text discussed in the Eurogroup yesterday suggests that the potential package for Greece would include 10 to 25bn for the banking sector in order to address potential recapitalisation needs. Rumours this morning suggest the banks would then become part of a new asset fund and sold off to pay down debt. …Read More

The costs of Greece’s fiscal consolidation

Gechert, S. & Rannenberg, A. (2015) “The costs of Greece’s fiscal consolidation“, Macroeconomic Policy Institute, March.   This policy brief reexamines the effects of the Greek austerity experiment on its economy via a counterfactual analysis. We combine the fiscal multipliers from the meta regression analysis in Gechert and Rannenberg (2014) to the fiscal consolidation measures that have been implemented in Greece between 2010 and 2014. We estimate that austerity explains …Read More