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This section contains original papers written exclusively for the Crisis Observatory. The Observatory hosts three different publication series: opinion articles, policy papers and research papers. Authors interested in contributing a paper in any category can find instructions here. Access to the Crisis Observatory papers is free.

George Tzogopoulos: Assessing the Image of Germany in the Greek Media Visual analysis of Greek Media Reports on the Role of Germany in the Greek Crisis

This study attempts to analyse the representation of Germany in the Greek press during the ongoing economic crisis covering the period 2010-2013. In so doing, it starts with a discussion on the main theoretical aspects explaining the relationship between media and politics in the relevant literature of political communication. It then concentrates on the issue of the European public sphere which is concerned with potential ‘European frames’ in the portrayal of Germany in the Greek …Read More

Antonis Kamaras: The tragedy and last minute triumph of the Greek commons

The tragedy of the commons ‘denotes a situation where individuals acting independently and rationally according to each’s self-interest behave contrary to the best interests of the whole group by depleting some common resource’. This article will make two points. First, that Greece coming so close to exit from the Eurozone, reflects typical ‘tragedy of the commons’ dynamics. Second, that the near certainty of euro exit, catalyzed by the resounding ‘no’ …Read More

Dimitris Katsikas: The final mistake in a bad negotiation

The decision to hold a referendum on the creditors’ proposal is the final act in a drama that started five months ago, when the new Greek government initiated a new round of negotiations with the country’s creditors.In my view, the decision to hold a referendum is a mistake, maybe the last one, in an overall bad negotiation. The Greek government made three key negotiating mistakes. Someone with basic knowledge of the history …Read More

George Lilis: Latest developments make an interim agreement a little more tangible

Several developments in recent weeks have led to a change of circumstances and thereby the strategy of both sides is bound to change as well. On the one hand, they are trying to avoid a possible crisis of the Eurozone edifice as a result of a new Greek bankruptcy and a possible Grexit. On the other hand, they wish to avoid the strengthening of extremist parties in the EU and …Read More

Thomas Papadopoulos: Privatized companies, golden shares and property ownership in the Euro crisis era: A discussion after Commission v. Greece

In Commission v. Greece, the Court of Justice of the European Union examined Article 345 TFEU (ex Article 295 EC) on property ownership, in the context of golden shares of privatized companies. The neutrality of the EU towards privatizations is questioned. The scope and the outer limits of Article 345 TFEU are also scrutinized and a few distinctions are drawn. The decision whether to privatize and to introduce golden shares …Read More

Dimitris Psarrakis: How much tax harmonization is enough? The quest for an efficient EU tax regime

The financial crisis revealed the need for a sound fiscal policy in the EU. Taxation is a critical component for fiscal deepening in the common market. The LuxLeacks cases made clear that it is impossible for the common market to function without distortions unless a more coherent rule-based approach is in place. According to the European Scoreboard of Macroeconomic Imbalances, the EU corporate investments attractiveness in the post-crisis period was …Read More

Yiannis Kitromilides and Thanos Skouras: “Greece and the Eurozone Crisis: Two Narratives”

The ‘Greek story’ is in accord with and conveniently lends support to the widely-held view, especially in northern Europe, according to which the euro crisis is due to fiscal imprudence and excessive sovereign debt. The alternative and correct narrative recognizes the financial origin and the market malfunctioning, specifically in banking and construction, that caused the crisis. Moreover, it attributes the crisis to the Eurozone’s flawed architecture, which lacks the appropriate …Read More

Dimitri A. Sotiropoulos: The Double Mismatch – Anti-Poverty Policies & Discourses on Poverty & Social Exclusion in Greece under the Economic Crisis

Based on recent statistics on the social impact of the financial crisis, on an overview of social policy measures to tackle poverty and social exclusion in Greece during the crisis, as well as on interviews with politicians, reporters, trade unionists, technocrats and NGO members that took place in 2014, this paper brings out a problem of double inconsistency or mismatch. The first inconsistency lies in the extent and complexity of …Read More

Social Profile Report on Poverty, Social Exclusion and Inequality Before and After the Crisis in Greece

Katsikas, D., Karakitsios, Α., Filinis, Κ. & Petralias, Α.: “Social Profile Report on Poverty, Social Exclusion and Inequality Before and After the Crisis in Greece“, Crisis Observatory, Athens: December 2014.   This report is the result of research conducted in the context of the research programme “Fragmentation and Exclusion: Understanding and Overcoming the Multiple Impacts of the European Crisis” (FRAGMEX). FRAGMEX takes place under the auspices of a bilateral programme …Read More

Manolis Galenianos: The Greek Crisis – Origins and Implications

The conventional wisdom is that the Greek and Eurozone crises are the result of fiscal profligacy, which has justified austerity as the primary policy to exit the crisis. This interpretation of the crisis fits the case of Greece and, to a lesser extent, Portugal, but cannot explain why Ireland and Spain had to request assistance, given that prior to 2008 they had lower deficits and public debt than most Eurozone …Read More