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Greece needs plans for growth, not eurozone exit

Katsikas, Dimitris, (2012), ‘Greece needs plans for growth, not eurozone exit’, www.publicserviceeurope.com, 23 March. The second bail-out agreement for Greece has been hailed by the political elites in Europe and the parties of the Greek governing coalition as a historic achievement that paves the way for the country’s return to normalcy. Nonetheless, as soon as it was signed, a number of analysts criticised it as insufficient and predicted that in …Read More

The Logic and Fairness of Greece’s Program

Blanchard, Olivier, (2012), ‘The Logic and Fairness of Greece’s Program’, blog-imfdirect.imf.org, 20 March. Some countries have been able to work down heavy public debt burdens. Those that were successful did it through sustained high growth. But in Greece’s case, it had become clear that high growth—let alone sustained high growth—was not going to come soon enough.   

What Is It About Greece?

Stevis, Matina, (2012), ‘What Is It About Greece?’, blogs.wsj.com, 9 March. The Greek debt restructuring, now in its final stretch, is “being as closely watched as a U.S. presidential election,” a market participant quips. But, why, one might ask, are people prepared to put themselves through the process of memorizing acronyms, learning about complicated legal maneuvers and following what has been an exhausting process, if they’re not getting paid to do …Read More

Greek Economy and the Crisis; Challenges and Responses

Petrakis, Panagiotis, (2012), Greek Economy and the Crisis; Challenges and Responses, Springer. The book “The Greek Economy and the Crisis. Challenges and Responses” targets all those who think about the present and future of this (culturally) long-lived small geographic region (Greece), to form a personal view of its social and economic problems. A society that repeats the same types of behaviour over the centuries does not do so due to random …Read More

Greekonomics: The Euro Crisis and Why Politicians don’t get it

Pryce, Vicky, (2012), Greekonomics: The  Euro Crisis and Why Politicians don’t get it, Biteback Publishing. Economist Vicky Pryce reflects on the current crisis in the Euro Zone its causes and how Europe has responded, and offers her thoughts on what might and what needs to happen if the Euro is to survive in its current form. She pays particular attention to Greece, the country of her birth, the country first …Read More

If Greece goes…:The impact of a Greek default on Europe and the world economy

Financial Times, (2012), If Greece goes…;The impact of a Greek default on Europe and the world economy, Penguin Books. The Financial Times, the global business newspaper, has led the field with its coverage of the eurozone crisis and Greece’s political and financial chaos. As the chances of a Greek exit from the eurozone grow, the FT’s specialist correspondents and authoritative columnists dissect the potentially devastating consequences for businesses and governments …Read More

Sovereign Debt Restructurings 1950-2010; Literature Survey, Data, and Stylized Facts,

IMF, (2012), Sovereign Debt Restructurings 1950-2010; Literature Survey, Data, and Stylized Facts, IMF Working Papers, Monetary and Capital Markets Department, Washington. This paper provides a comprehensive survey of pertinent issues on sovereign debt restructurings, based on a newly constructed database. This is the first complete dataset of sovereign restructuring cases, covering the six decades from 1950–2010; it includes 186 debt exchanges with foreign banks and bondholders, and 447 bilateral debt …Read More

Debt Crisis and the Welfare State in Greece

Sakellaropoulos, Theodoros, (2012), ‘Debt Crisis and the Welfare State in Greece’,  www.isa-sociology.org, 12 February. The current Greek fiscal or debt crisis -putting at risk the euro and the modern welfare state- as well as the policies developed as a response to the crisis can be understood only when taking into consideration firstly some specific characteristics of the development model adopted in Greece since the 19th  century and secondly those phase …Read More

The Distribution of Full Income in Greece

Koutsampelas, Christos, Tsakloglou, Panos, (2012), ‘The Distribution of Full Income in Greece’, IZA Discussion Papers, N. 6396. Non-cash incomes from either private or public sources can have substantial effects on the distribution of economic welfare. However, standard approaches to inequality measurement either neglect them or take into account only selected non-monetary items. Using data for Greece in the mid 2000s we show that it is possible to incorporate a comprehensive …Read More

The Threats to Greece’s Debt Deal

Stevis, Matina, (2012), ‘The Threats to Greece’s Debt Deal’, blogs.wsj.com, 7 January. The process of imposing losses to private-sector holders of Greek debt–known as private-sector involvement or PSI–has dogged policy-makers for months. If the Greek finance minister is to be taken at his word, the first large-scale restructuring of sovereign debt of the euro area is nigh.

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