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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

State Transformation and the European Integration Project: Lessons from the financial crisis and the Greek paradigm

Venizelos, Evangelos, (2016), “State Transformation and the European Integration Project: Lessons from the financial crisis and the Greek paradigm”, Ceps, 4 February The financial crisis that erupted in the eurozone not only affected the EU’s financial governance mechanisms, but also the very nature of state sovereignty and balances in the relations of member states; thus, the actual inequalities between the member states hidden behind their institutional equality have deteriorated. This …Read More

Greek pension reform once again: Explaining its logic and issues

Tinios, Platon, (2016), “Greek pension reform once again: Explaining its logic and issues”, Briefing Note, LSE, 15 January Pension reform is, once again, the main issue in Greek political discussion. It returns only months after all retirement ages rose to 67 in the summer of 2015. There have been at least three major pension reforms and at least ten pension cuts since 2010. All this frantic activity apparently fails on …Read More

Greek Pensions Crisis: The Last Act of the Greek Tragedy

Iakovidis, Michael , Mahoney, Daniel , Knox, Tim, (2016), “Greek Pensions Crisis: The Last Act of the Greek Tragedy”, Center for Policy Studies, 14 Ιανουαρίου The Greek pensions system, after decades of political exploitation, state interference and crony capitalism, is close to collapse. The system has been plagued by an unsustainable worker to pensioner ratio, endemic corruption along with major financial losses on investments in Greek banks and Government bonds. To sustain the …Read More

Greece: a European tragedy

Mody, Ashoka, (2016), “Greece: a European tragedy”, Bruegel publications, 14 January Wrapped up in the details of pension reforms and home foreclosure—matters that, no doubt, have important consequences for many— the big picture has faded into the background. It is easy to forget how we got here, and where we are going. Relevant Posts   Varoufakis, Yanis, (2016), “Greece’s Two Currencies”, Social Europe, 8 January Arkolakis, Costas, Galenianos, Manolis, (2015), “The challenge of trade adjustment …Read More

The challenge of trade adjustment in Greece

Arkolakis, Costas, Galenianos, Manolis, (2015), “The challenge of trade adjustment in Greece”, Voxeu, 22 November In 2009 it became clear that the Greek economy was facing very serious challenges arising from the country’s ‘twin deficits’ – both the budget of the Greek government and the current account of the country were in deficit by almost 15% of GDP. The two deficits required large amounts of financing that was not forthcoming in the aftermath …Read More

What should be done with Greek banks to help the country return to a path of growth

Avgouleas, Emilios, Papadimitriou, Dimitri B., (2015), “What should be done with Greek banks to help the country return to a path of growth”, Levy Economics Institute of Bard College, 2015/6, October The battered Greek banks will soon face another round of recapitalization, yet the prospects for a return to their precrisis role as liquidity providers to the economy are unlikely. In this context, it is imperative to remind the country’s creditors and the officials …Read More

Greece budget update – October

Merler, Sylvia, (2015), “Greece budget update – October”, Bruegel publications, 19 October While it has to be stressed that the targets considered in the budget execution bulletins are still those from the old 2015 budget (not the new targets under the new programme), this development is nevertheless an interesting reversal of previous tendencies. Relevant Posts Merler, Sylvia, (2015), “Greece budget update – September”, Bruegel publications, 22 September Merler, Sylvia, (2015), “Greece budget …Read More

The crossroad of reforms for the Greek public administration

Makrydemetres, Anthony, D. Zervopoulos, Panagiotis, Eliana Pravita, Maria, (2015), ” The crossroad of reforms for the Greek public administration”, LSE blog, 9 October The reform of Greek public administration in order to enhance efficiency is a key recommendation put forth by the OECD. Efficient public administration ensures both the optimal utilisation of the resources engaged by public bodies and the allocation of excessive public funds to civil society or to activities promoting economic growth. The reform …Read More

Where is the credit crunch in Greece?

Gros, Daniel, (2015), “Where is the credit crunch in Greece?”, Ceps Commentary, 6 October Greek policy-makers like to make the point that their economy cannot recover because of a lack of credit and that this affects exports, in particular. Austerity is an easy explanation for the weakness of domestic demand, argues Daniel Gros in this CEPS Commentary, but it is more difficult to see why Greek exports have stagnated in …Read More