Ruparel, Raoul, (2015), “Bridge financing for Greece – what are the options and should the UK be involved?”, Open Europe blog, 14 Ιουλίου We discussed this briefly on our blog yesterday but a few more options/ideas have emerged since then to raise the €7bn to €12bn which Greece needs immediately. Importantly, as Eurogroup Chief Jeroen Dijsselbloem said this morning, all options come with “disadvantages, impossibilities and legal objections”. Σχετικές Αναρτήσεις …Read More
Investment-led Growth, Not More Cuts, Is The Only Way For Greece
Horn, Gustav, (2015), “Investment-led Growth, Not More Cuts, Is The Only Way For Greece”, Social Europe Journal, 15 Ιουλίου The agreement reached in Brussels yesterday between EU governments and Greece came only with a huge loss of mutual trust. It remains to be seen whether the deal in these circumstances will win majority political support. Economically, it would at least offer a small opportunity for a recovery in the Greek …Read More
Professor Blanchard Writes a Greek Tragedy
Mody, Ashoka, (20150, “Professor Blanchard Writes a Greek Tragedy”, Bruegel publications, 14 Ιουλίου Olivier Blanchard has, with his customary clarity and candor, addressed criticisms of the IMF’s role in Greece’s financial rescue. His is a personal statement. But in writing it, he also presents the IMF’s operating philosophy and mandate. Blanchard’s statement will, therefore, not only shape our thinking on the evolution of the Greek crisis but it could define …Read More
Preserving the Greek financial sector: options for recap and assistance
Merler, Sylvia, (2015), “Preserving the Greek financial sector: options for recap and assistance”, Bruegel publications, 13 Ιουλίου The draft text discussed in the Eurogroup yesterday suggests that the potential package for Greece would include 10 to 25bn for the banking sector in order to address potential recapitalisation needs. Rumours this morning suggest the banks would then become part of a new asset fund and sold off to pay down debt. …Read More
Greece: Past Critiques and the Path Forward
Blanchard, Olivier, (2015), “Greece: Past Critiques and the Path Forward”, IMF Direct, 9 Ιουλίου All eyes are on Greece, as the parties involved continue to strive for a lasting deal, spurring vigorous debate and some sharp criticisms, including of the IMF.In this context, I thought some reflections on the main critiques could help clarify some key points of contention as well as shine a light on a possible way forward. …Read More
Europe’s Greek Failure
Gros, Daniel, (2015), “Europe’s Greek Failure”, Project Syndicate, 9 Ιουλίου Narratives matter, especially when they are intertwined with hard interests. As Greece and its creditors court catastrophe, we are getting a clear picture of how conflicting narratives can lead to a lose-lose result. The facts are indisputable. In early 2010, when the Greek government could no longer finance itself, it turned to its European partners and the International Monetary Fund …Read More
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A Pain in the Athens
Blyth, Mark, (2015), “A Pain in the Athens”, Foreign Affairs Journal, 7 Ιουλίου When the anti-austerity party Syriza came to power in Greece in January 2015, Cornel Ban and I wrote in a Foreign Affairs article that, at some point, Europe was bound to face an Alexis Tsipras, the party’s leader and Greek prime minister, “because there’s only so long you can ask people to vote for impoverishment today based …Read More
Βιβλιοθήκη » Ελλάδα » Πολιτική » Άρθρα Γνώμης
The Greek Vote and the EU Miscalculation
Friedman, George, (2015), “The Greek Vote and the EU Miscalculation“, Stratfor Geopolitical Weekly, 7 Ιουλίου In a result that should surprise no one, the Greeks voted to reject European demands for additional austerity measures as the price for providing funds to allow Greek banks to operate. There are three reasons this should have been no surprise. First, the ruling Coalition of the Radical Left, or Syriza party, is ruling because it …Read More
Βιβλιοθήκη » Ελλάδα » Οικονομία » Πολιτική » Άρθρα Γνώμης
A Few Clarifications About Greece And ELA
Fazi, Thomas, (2015), “A Few Clarifications About Greece And ELA”, Social Europe Journal, 8 Ιουλίου A good part of the media (most notably in Germany) is framing the ECB’s emergency liquidity operations in Greece as ‘the ECB extending credits to Greek banks’. This is a huge misrepresentation of reality. The ECB is actually doing little more than what all central banks do (and, moreover, what it is legally bound to …Read More
The IMF’s Preliminary Draft Debt Sustainability Analysis: what does it mean?
Monastiriotis, Vassilis, (2015), “The IMF’s Preliminary Draft Debt Sustainability Analysis: what does it mean?”, LSE blog, 3 Ιουλίου The release of the latest analysis by the IMF on the sustainability of the Greek debt, which states loudly that Greece will need not only a hefty new bailout but also a further debt restructuring, fueled again the literature, in traditional and social media, about the motives behind the insistence of the European …Read More
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