Münchau, W. (2014) “This could be the moment for Greece to default”, Financial Times, 13 Απριλίου. While the financial world is celebrating the Greek return to the bond markets, I am asking myself this question: is this a good time for Greece to default on its foreign debt? It is not a subject of polite conversion in Brussels or Athens. Nor does it appear to be a popular subject …Read More
The Greek Crisis: Origins and Implications
Galenianos, M. (2014) “The Greek Crisis: Origins and Implications“, Greek Economists for Reform.com, 07 Απριλίου. This paper argues that the deep causes of the Greek and Eurozone crisis are the large external imbalances (trade deficits) of the countries of the European periphery. Their fiscal imbalances exacerbated but did not cause the crisis and therefore fiscal adjustment is a necessary but not sufficient condition for economic recovery. For their economies …Read More
Broken and Can’t be Fixed’: The Impact of the Economic Crisis on the Greek Party System
Verney, S. (2014) “Broken and Can’t be Fixed’: The Impact of the Economic Crisis on the Greek Party System”, The International Spectator: Italian Journal of International Affairs, Volume 49, Issue 1, 2014 The Greek election of May 2012 failed to produce a government, resulting in repeat elections six weeks later. This shock outcome was a symptom of a broader delegitimation of the national political system. Over the past decade …Read More
Fairly Sharing the Social Impact of the Crisis in Greece
Koutsogeorgopoulou, V., Matsaganis, M., Leventi, Schneider, J. D., (2013), “Fairly Sharing the Social Impact of the Crisis in Greece” , OECD, Paris. Poverty and income inequality have worsened since the onset of the crisis. While the design of fiscal measures has mitigated the burden sharing of fiscal adjustment, as the recession has deepened unemployment has risen, earnings have declined and social tensions have increased. Getting people back to work …Read More
What Explains the Rise in Non-Performing Loans (NPLs) in the Euro Area following the Outbreak of the Global Financial Crisis: Greece Case Study
Eurobank (2014) “What Explains the Rise in Non-Performing Loans (NPLs) in the Euro Area following the Outbreak of the Global Financial Crisis: Greece Case Study“, Eurobank Global Markets Research, Greece Macro-Monitor, 14 Φεβρουαρίου. Preface The present study utilizes a number of empirical methodologies to explain the evolution of NPLs in a large group of advanced and emerging market economies in the period before and after the global financial crisis, …Read More
Ελληνική Οικονομία: Μηνιαίο Δελτίο Οικονομικών Εξελίξεων
Κέντρο Προγραμματισμού και Οικονομικών Ερευνών–ΚΕΠΕ (2014) “Ελληνική Οικονομία: Μηνιαίο Δελτίο Οικονομικών Εξελίξεων“, Νο.2, Φεβρουάριος, Αθήνα. Στο παρόν τεύχος της Ελληνικής Οικονομίας γίνεται μια επισκόπηση των βασικότερων οικονομικών εξελίξεων στην Ελλάδα και παρουσιάζονται τρία άρθρα που πραγματεύονται τη σημαντικότητα της εξωστρέφειας και των επενδύσεων. Συγκεκριμένα, στο πρώτο άρθρο παρουσιάζονται αναλυτικά τα συγκριτικά πλεονεκτήματα της ελληνικής οικονομίας σε επίπεδο εξαγώγιμων αγαθών και υπηρεσιών. Το δεύτερο άρθρο σκιαγραφεί την πορεία των άμεσων …Read More
Debt-for-equity swaps offer Greece a better way
Allen, P., Eichengreen, B. & Evans, G. (2014) “Debt-for-equity swaps offer Greece a better way“, VOX EU Organisation, 28 Φεβρουαρίου. Greece needs debt reduction. This column argues that instead of offering another lengthening of maturities and reduction in interest rates, Eurozone leaders should seize the occasion and implement debt-for-equity swaps that would encourage foreign investment, speed privatisation and jumpstart the Greek economy. Last week, Eurogroup finance ministers in their …Read More
Implementation of the Macroeconomic Adjustment Programmes in the Euro Area: State-of-Play
Gros, D., Alcidi, C., Belke, A. Coutinho, L. & Giovannini, A. (2014) “Implementation of the Macroeconomic Adjustment Programmes in the Euro Area: State-of-Play“, Economic Policy, CEPS Paperbacks, 11 Μαρτίου. Two of the four macroeconomic adjustment programmes – in Portugal and Ireland – can be considered a success in the sense that the initial expectations in terms of adjustment, both fiscal and external, were broadly fulfilled. A rebound based on …Read More
ΕΛΣΤΑΤ: ΕΡΕΥΝΑ ΕΡΓΑΤΙΚΟΥ ΔΥΝΑΜΙΚΟΥ: Δ’ Τρίμηνο 2013
Ελληνική Στατιστική Αρχή (2014) “Δελτίο Τύπου – Έρευνα Εργατικού Δυναμικού: Δ’ Τρίμηνο 2013“, 13 Μαρτίου 2014. ΕΡΕΥΝΑ ΕΡΓΑΤΙΚΟΥ ΔΥΝΑΜΙΚΟΥ: Δ’ Τρίμηνο 2013 Κατά το Δ ́ Τρίμηνο του 2013 ο αριθμός των απασχολούμενων ανήλθε σε 3.589.657 άτομα και των ανέργων σε 1.363.137. Το ποσοστό ανεργίας ήταν 27,5%, έναντι 27,0% του προηγούμενου τριμήνου και 26,0% του αντίστοιχου τριμήνου 2012. Η απασχόληση μειώθηκε κατά 1,3% σε σχέση με το προηγούμενο τρίμηνο …Read More
Latvia and Greece: Less is More
Biggs, M. & Mayer, T. (2014) “Latvia and Greece: Less is More“, Economic Policy, CEPS High-Briefs, 12 Φεβρουαρίου 2014 Key Points: Despite considerable differences, there were also many similarities in economic performance between Latvia and Greece before their respective adjustment crises. After the immediate crisis, however, economic activity rebounded sharply in Latvia but continued to contract in Greece. This paper argues that this difference was due primarily to developments in …Read More