Ardagna, S. & Caselli, F. (2015) “The Political Economy of the Greek Debt Crisis: A Tale of Two Bailouts“, Centre for Economic Performance Special Paper, Special Paper No. 25, January 2014. We review the events that led to the May 2010 and July 2011 bailout agreements. We interpret the bailouts as outcomes of political-economy equilibria. We argue that these equilibria were likely not on the Pareto frontier, and sketch …Read More
Mitchell, B. (2015) “Greece goes back into depression – having never left it“, Bill Mitchell Blog, 07 March. Last Friday (March 6, 2015), Eurostat unveiled the latest – National Accounts estimates for the fourth-quarter 2014. All the Greek news this week will be about the – Letter – that the Greek Finance Minister sent to the president of the Eurogroup, in which he outlined 7 reform proposals. But it …Read More
Edwards, S. (2015) “Sovereign default and debt restructuring: Was Argentina’s ‘haircut’ excessive?“, VoxEU Organisation, 04 March. There were 24 sovereign defaults and debt restructurings between 1997 and 2013. Using data on 180 debt restructurings – for both sovereign bonds and sovereign syndicated bank loans – this column argues that the roughly 75% ‘haircut’ Argentina imposed on its creditors in 2005 was an outlier. Greece’s ‘haircut’ of roughly 64% in …Read More
Katsanidou, A. & Otjes, S. (2015) “Mapping the Greek party system after the 2015 elections: how the economy and Europe have merged into a single issue“, LSE EUROPP, 25 February. The Greek government is still attempting to negotiate a long-term solution to the country’s debt problem, but what are the lasting implications of the 2015 Greek parliamentary elections for politics in Greece? Alexia Katsanidou and Simon Otjes present a …Read More
Watt, A. (2015) “Is Greek Public Debt Unsustainable? It’s The (nominal growth rate of the) Economy, Stupid!“, Social Europe Journal, Occasional Papers No. 6, January. Greece will go to the polls on January 25th and everybody from German conservatives to Greek leftists seems to agree: Greek public debt is unsustainable. A haircut on investors and some form of partial default – more politely known as debt restructuring – is …Read More
Panagiotarea, E. (2014) “The Greek Turnaround: Mending the Fragility and at What Price“, in: Europe – Surging Ahead, Panorama – Insights into Asian and European Affairs, 02/2014, σσ. 59-70, 19 December. Introduction Greek economic adjustment was never going to be an easy task. For one, the starting imbalances were grave, hidden from view by years of budgetary misreporting and rudimentary surveillance, while the country’s institutional capacity to undertake and …Read More
Afonso, A., Zartaloudis, S. & Papadopoulos, Y. (2014) “How party linkages shape austerity politics: clientelism and fiscal adjustment in Greece and Portugal during the eurozone crisis“, Journal of European Public Policy, 29 October. Drawing on an analysis of austerity reforms in Greece and Portugal during the sovereign debt crisis from 2009 onwards, we show how the nature of the linkages between parties and citizens shapes party strategies of fiscal …Read More
Chatzistavrou, F. & Michalaki, S. (2014) “Reshaping politics of the left and centre in Greece after the 2014 EP election“, Politics and Institutions, EPIN Commentaries, 10 September. The political landscape in Greece is confused and volatile at the moment; the right and extreme- right-wing parties are accorded a disproportionately large place in political debate, while the radical left-wing SYRIZA party is attempting to maintain a ‘leftist’ profile and demonstrate …Read More
Papadimitriou, Β. D. & Toay, T. (2014) “Co-operative Banking in Greece: A Proposal for Rural Reinvestment and Urban Entrepreneurship“, Levy Economics Institute, Research Project Reports, July. The crisis in Greece is persistent and ongoing. After six years of deepening recession, real GDP has shrunk by more than 25 percent, with total unemployment now standing at 27.2 percent. Clearly, reviving growth and creating jobs should be at the top of …Read More
Giannitsis T., I. Kastelli, 2014, “Industrial policy in times of crisis: the case of Greece” in Teixeira Α.Α.C., E. Silva, R. Paes Mamede (eds.), Structural Change, Competitiveness and Industrial Policy: Painful Lessons from the European Periphery, Routledge, Taylor & Francis Group, London and New York. Synopsis Chapter 11 addresses the role of industrial policy in the process of overcoming the economic crisis in Greece. The rationale of such a …Read More
