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Greece as an example of “post-politics” in the eurozone

Chatzistavrou, Filippa, Michalaki, Sofia, (2015), «Greece as an example of “post-politics” in the eurozone», EPIN Papers, Centre for European Policy Studies (CEPS), Commentary No. 28, 9 Νοεμβρίου The past six months of negotiations between Greece and the EU/IMF have tested the unity, limits, stamina and financial interdependence of eurozone member states. Greece has emerged wounded from the fray, but Prime Minister Alexis Tsipras has established beyond doubt his dominance in Greek politics, against all odds, …Read More

Prime Ministers in Greece-The Paradox of Power

Featherstone, Kevin,  Papadimitriou, Dimitris, (2015), «Prime Ministers in Greece-The Paradox of Power», Oxford University Press, Ιούλιος This book is concerned with a large question in one small, but highly problematic case: how can a prime minister establish control and coordination across his or her government? The Greek system of government sustains a ‘paradox of power’ at its very core. The Constitution provides the prime minister with extensive and often unchecked powers. Yet, …Read More

New Countdown For Greece: A Bank Bail-in Is Looming

Minenna, Marcello, (2015), «New Countdown For Greece: A Bank Bail-in Is Looming», Social Europe, 4 Νοεμβρίου. The debt crisis may no longer be in the spotlight but the financial situation in Greece remains complex. Greek banks continue to survive at the edge of bankruptcy, kept afloat only by Emergency Liquidity Assistance (ELA) from the ECB and by still-enforced capital controls. After the August “agreement”, the Troika has promised the Greek government €25 billion …Read More

Δύο αιώνες μνημόνια για την Ελλάδα

Παλαιολόγος, Γιάννης, (2015), «Δύο αιώνες μνημόνια για την Ελλάδα», Εφημερίδα Η ΚΑΘΗΜΕΡΙΝΗ, 1 Νοεμβρίου. Εύγλωττες ομοιότητες μεταξύ της τρέχουσας ελληνικής κρίσης και των προηγούμενων τριών επεισοδίων κρατικής χρεοκοπίας στη νεότερη ιστορία της Ελλάδας αποκαλύπτει νέα επιστημονική εργασία των Κάρμεν Ράινχαρτ (Harvard) και Κρίστοφ Τρεμπές (Πανεπιστήμιο του Μονάχου), που παρουσιάστηκε στα μέσα Σεπτεμβρίου σε συνέδριο του ινστιτούτου Brookings στις Ηνωμένες Πολιτείες. Σχετικές Αναρτήσεις Βασιλάκη, Χριστίνα, (2015), «Σε τροχιά αξιολόγησης η υλοποίηση του …Read More

The Pitfalls of External Dependence: Greece, 1829-2015

Reinhart M., Carmen, Trebesch, Christoph,  (2015), «The pitfalls of external dependence: Greece, 1829-2015», Brookings Papers on Economic Activity, Σεπτέμβριος. Two centuries of Greek debt crises highlight the pitfalls of relying on external financing. Since its independence in 1829, the Greek government has defaulted four times on its external creditors, and it was bailed out in each crisis. We show that cycles of external crises and dependence are a perennial theme of …Read More

Three days to save the euro

Traynor, Ian, (2015), «Three days to save the euro», The Guardian, 22 Οκτωβρίου Late on the afternoon of Friday 10 July, as European finance ministers were packing their bags for Brussels to attend yet another meeting on the Greek debt crisis, a shocking email from Berlin landed in the inboxes of a very small number of top officials. Earlier that week, the Greek prime minister, Alexis Tsipras, had been given …Read More

Greece budget update – October

Merler, Sylvia, (2015), «Greece budget update – October», Bruegel publications, 19 Οκτωβρίου While it has to be stressed that the targets considered in the budget execution bulletins are still those from the old 2015 budget (not the new targets under the new programme), this development is nevertheless an interesting reversal of previous tendencies. Σχετικές Αναρτήσεις Merler, Sylvia, (2015), «Greece budget update – September», Bruegel publications, 22 Σεπτεμβρίου Merler, Sylvia, (2015), «Greece …Read More

On Structural Reforms and Debt Relief

Milas, Costas, Panagiotidis, Theodore, Boumparis, Periklis, (2015), «On Structural Reforms and Debt Relief «, LSE blog, 15 Οκτωβρίου The recent trip of the Greek Prime Minister to the US was dominated by repeated calls for debt relief. The Greek pile of debt, currently at 177% of the country’s GDP, is undoubtedly high (see here for a recent analysis on the sustainability of the Greek debt). In July 2015, the IMF (one of Greece’s so-called Troika …Read More

Who’s to Blame for Greece?-Austerity in Charge of Saving a Broken Economy

Pelagidis, Theodore, Mitsopoulos, Michael, (2015), «Who’s to Blame for Greece?-Austerity in Charge of Saving a Broken Economy», International Political Economy Series, Palgrave-Macmillan publications, Οκτώβριος The Euro constitutes the crowning achievement of a prolonged process of integration between European states. It incarnates the vision for a united and prosperous Europe: the attainment of major political goals through the promotion of closer economic cooperation. However, the 2009 crisis brought the EU head-to-head again with its …Read More

Greek debt remains unsustainable: Here is why

Lukkezen, Jasper, (2015), «Greek debt remains unsustainable: Here is why», Voxeu, 24 Σεπτεμβρίου After 2018, Greece should have market access. This column argues that without further debt relief, this is unlikely to happen. Under reasonable assumptions, its debt ratio will likely not decline, and the financing burden will increase again. Private investors will take these risks into account and will ask for a risk premium that Greece cannot afford in the …Read More