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10 years of crisis: smaller but unreformed corporate economy

PwC, (2019), “10 years of crisis: smaller but unreformed corporate economy”,  April In 2018, Greece officially exited the longest and deepest crisis that has been recorded in the Western world. Eight years of constant drop of economic activity, one could imagine that the productive tissue of the country has been destroyed. Relevant Posts Theodore Pelagidis, (2019), «Greek economy: From bailout program exit to recovery?», Brookings, 6 March Sotiris Nikas, (2019), …Read More

Education and Training Monitor 2018: Greece

European Commission, (2018), “Education and Training Monitor 2018: Greece” Education funding is low. Better monitoring of spending could help improve efficiency. Compulsory pre-primary education will be extended. Affordable childcare for under 3 year-olds remains scarce, resulting in declining participation and increased reliance on informal childminding. Citizenship education is well covered in general education but less present in vocational education. Tertiary educational attainment has increased further and is well above the …Read More

Greece Mulls Early IMF Repayment as Aid Tranche Nears

Sotiris Nikas and Viktoria Dendrinou, (2019), “Greece Mulls Early IMF Repayment as Aid Tranche Nears”, Bloomberg, 2 April Greece’s plans to repay part of its loans from the International Monetary Fund ahead of schedule may soon come to fruition, paving the way for the debt-stricken nation to claim it has taken another step toward economic normalcy. Relevant Posts Theodore Pelagidis, (2019), «Greek economy: From bailout program exit to recovery?», Brookings, …Read More

Greek economy: From bailout program exit to recovery?

Theodore Pelagidis, (2019), “Greek economy: From bailout program exit to recovery?”, Brookings, 6 March The recent upgrade of Greece’s long-term foreign credit rating by Moody’s from B3 to B1 is expected to encourage investor uptake of a 10-year, 2.5-billion-euro Greek government bond launching this week. At odds with this cautiously encouraging development was the European Commission’s (EC) enhanced surveillance report issued on February 27. Layered over this are persistent political …Read More

Greece : First Post-Program Monitoring Discussions-Press Release; Staff Report; and Statement by the Executive Director for Greece

International Monetary Fund-European Department, (2019), “Greece : First Post-Program Monitoring Discussions-Press Release; Staff Report; and Statement by the Executive Director for Greece”, Country Report No. 19/73, 12 March The economic recovery in Greece is accelerating and broadening. Growth and job creation in Greece are expected to accelerate further in 2019. Public sector financing needs remain manageable under the baseline due to strong fiscal balances, low debt servicing costs, and a …Read More

Greece Is Back in the Bond Market as Yields Fall to 13-Year Low

James Hirai and John Ainger, (2019), “Greece Is Back in the Bond Market as Yields Fall to 13-Year Low”, Bloomberg, 4 March Greece is selling debt for the second time this year, taking advantage of lower borrowing costs after an upgrade from Moody’s Investors Service. The nation has mandated six banks as lead managers for a new 10-year bond, according to an Athens bourse filing on Monday. The sale is …Read More

Greece and Argentina show why pension reforms should not be used as a quick fix for a financial crisis

Marina Angelaki and Leandro Carrera, (2019), “Greece and Argentina show why pension reforms should not be used as a quick fix for a financial crisis”, LSE EUROPP, 1 March Greece and Argentina both introduced radical pension reforms following the financial crisis. Drawing on recent research, Marina Angelaki and Leandro Carrera argue that while both countries lacked access to international financial markets and had unsustainable pension systems, the reforms have been …Read More

Greece Has Just Days to Fix Things Before Its Next Cash Payment

Viktoria Dendrinou and Sotiris Nikas, (2019), “Greece Has Just Days to Fix Things Before Its Next Cash Payment” Bloomberg, 27 February Greece’s foot-dragging on some key economic reforms is raising creditor concern, putting at risk a planned debt relief measure next month and a rebound in its stock and bond markets. Relevant Posts Sotiris Nikas, (2019), «Risks at Home Mount for Greece in Its First Post-Bailout Year», Bloomberg Economics, 3 …Read More

World Economic Outlook Update, January 2019

IMF, (2019), “World Economic Outlook Update, January 2019”, International Monetary Fund, January 2019 The global expansion has weakened. Global growth for 2018 is estimated at 3.7 percent, as in the October 2018 World Economic Outlook (WEO) forecast, despite weaker performance in some economies, notably Europe and Asia. The global economy is projected to grow at 3.5 percent in 2019 and 3.6 percent in 2020, 0.2 and 0.1 percentage point below last …Read More

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Risks at Home Mount for Greece in Its First Post-Bailout Year

Sotiris Nikas, (2019), “Risks at Home Mount for Greece in Its First Post-Bailout Year”, Bloomberg Economics, 3 January After emerging from its steepest economic crisis in living memory, Greece still has a mountain to climb in 2019 if it’s to consummate its comeback with a sustained return to bond markets. The government plans to issue as much as 7 billion euros ($8 billion) of new debt this year, using part of its …Read More