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Greece needs plans for growth, not eurozone exit

Katsikas, Dimitris, (2012), ‘Greece needs plans for growth, not eurozone exit’,, 23 March.

The second bail-out agreement for Greece has been hailed by the political elites in Europe and the parties of the Greek governing coalition as a historic achievement that paves the way for the country’s return to normalcy. Nonetheless, as soon as it was signed, a number of analysts criticised it as insufficient and predicted that in a few years it would lead to a third rescue package, and most likely to a second haircut of Greek debt. In this context, many wonder whether it would have been better for Greece to default and press the reset button.