Janssen, Ρ. (2014) “DG ECFIN And The Missing Greek Exports“, Social Europe Journal, 02 July.   Economists at DG ECFIN are starting to notice something we have pointed out already some time ago: Despite an enormous cut in wage costs, Greek exports have firmly stayed put in recessionary territory and hopes for an export-led recovery have proven to be illusive. Troubled by this failure of Greek exports to lift off, DG …Read More

Horne, J. P. (2014) “Greece Taps The Market“, The European Institute.   The Greek government borrowed on the international bond market last week, the first time in over four years.[1] The bond issue comes just five years after Greece’s severe economic and financial crisis had become an existential threat to the euro itself. The fact that Greece was able to borrow €3 billion for five years at 4.75%, with orders …Read More

Anastasatos, T. & Stamatiou, T. (2014) “Is Deflation a Risk for Greece?,  Economy and Markets, Eurobank Research, Vol. IX, Issue 3, April.   Deflation is the occurrence of negative inflation, i.e. the situation in which prices of goods and services are falling in an economy. By contrast, disinflation is a slow-down in the inflation rate. In technical terms, deflation is considered to have occurred when CPI or the GDP deflator …Read More