This site is for archive purposes. Please visit www.eliamep.gr for latest updates
Go to Top

Greece’s Bogus Debt Deal

Mody, Ashoka, (2012), ‘Greece’s Bogus Debt Deal’, www.project-syndicate.org, 14 Δεκεμβρίου.

The process of official forgiveness of Greek debt has begun. Referred to as “official sector involvement” (OSI), it includes several initiatives aimed at reducing Greece’s debt/GDP ratio to 124% in 2020, from roughly 200% today. Even as the deal was announced, however, newspaper reports suggested that officials recognized that the measures would be insufficient to meet the target; further negotiations on additional steps would be needed at a politically more convenient moment.