Koulovatianos, Christos, Tsoukalas, John, (2015), “Why debt sustains corruption in Greece and vice versa”, Voxeu, 20 July
As numerous Greek MEPs opposed the Eurozone summit deal, implementation will require a broad coalition of political parties. This column argues that corruption in Greek politics will prevent the formation of such a coalition. The heavy debt service leads parties to invent extreme ways of responding to super-austerity and to strongly oppose direct reforms that challenge existing clientelism. The way out is to sign a new agreement that combines debt restructuring and radical transparency reforms, including naming-and-shaming practices, to block clientelism in the medium and long run.
Relevant Posts
- Rossman, Peter, (2015), “Greek Theme Park ‘Dettoland’: A Modest Anti-crisis Proposal”, Social Europe Journal, 20 July
- IMF, (2015), “Greece: An Update of IMF Staff’s Preliminary Public Debt Sustainability Analysis”, July