Gros, D. (2015) “The end of fiscal waterboarding?“, Economic Policy, CEPS Commentaries, 23 February.
In this Commentary, Daniel Gros argues that linking the primary surplus demanded of the new Greek government to the state of the economy is a sound approach. Some flexibility is warranted on this account, but the concept should be used to distribute the effort better over time, not to wriggle out of it.
Relevant posts:
- Mitchell, B. (2014) “Greece – return to growth demonstrates the role of substantial fiscal deficits“, Bill Mitchell Blog: Modern Macroeconomic Theory – Macroeconomic Reality, 19 November.
- Afonso, A., Zartaloudis, S. & Papadopoulos, Y. (2014) “How party linkages shape austerity politics: clientelism and fiscal adjustment in Greece and Portugal during the eurozone crisis“, Journal of European Public Policy, 29 October.
- Monokroussos, P. (2014) “Fiscal multiplier, automatic stabilizers and public debt: A simulation exercise for Greece“, Greece Macro Monitor, Eurobank Global Markets Research, 12 May.