Campos, Nauro, Coricelli, Fabrizio, (2015), “Reforming Greece”, Voxeu, 17 July
Greece’s reluctance to implement ‘the structural reforms required for debt sustainability’ is a recurrent theme in the debate on the EZ Crisis. This column qualifies this conventional wisdom by reassessing the relationship between Greece and the EU over the past four decades. Although Greece has implemented structural reforms that were substantial enough to bring about a turning point in its relationship with the EU, these reforms have been overly localised, badly sequenced and implemented by short-sighted political elites. The role that structural reforms can play in solving the current crisis should not be overestimated.
Relevant Posts
- De Grauwe, Paul, Ji, Yuemei, (2015), ” Why the ECB should not insist on repayment of its Greek bonds”, Voxeu, 16 July
- Cox, Michael, (2015), “Greece Surrendered, But The Real Defeat Was For Europe”, Social Europe Journal, 16 July