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Pavlos Efthimiou and Iakovos Stergidis: Stimulating the Economy: the Stake of Growth without Keynes

After six years of recession in Greece and while its economy is in a downward spiral, accompanied with far reaching implications for both society and the political system, it is now obvious that the challenge of growth has become an existential issue for the country.

Given the central European choices, which are not expected to change significantly, at least in the short-run, it is clear that the economic tools proposed by Keynes are nowhere on the horizon of the European agenda.

Therefore, in order to stimulate the economy in such conditions of austerity, policies must be sought that will be adapted to the limited liquidity of the banking system and the central government. The considerations listed below are not necessarily novel or new. We simply attempt a more comprehensive and centralised approach.

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