Munevar, Daniel, (2015), “Why I’ve Changed My Mind About Grexit”, Social Europe Journal, 23 Ιουλίου
Well, first of all it’s still not clear that there will be an actual agreement – there are several parliaments that need to approve their country’s participation in an ESM bailout. And even if they somehow reach an agreement, there is simply no way it can work. The economics of the program are just insane. They haven’t announced the precise fiscal targets yet, but if we look at the Debt Sustainability Analyses (DSAs) published by the IMF and the Commission, they both state that the target should be a 3.5% primary surplus in the medium term. But if you look at what has happened over the course of the past five years, Greece has managed to ‘improve’ its structural balance by 19 points of GDP.
Σχετικές Αναρτήσεις
- Otero-Iglesias, Miguel, (2015), “Intentionally or otherwise, Schäuble has killed off the prospect of a Grexit”, LSE blog, 23 Ιουλίου
- Wyplosz, Charles, (2015), “Greece should prepare for Grexit and then not do it”, Voxeu, 20 Ιουλίου