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Greek Banks Inch Toward Bad-Loan Relief With Complex Plans

Nikos Chrysoloras, Tom Beardsworth, Christos Ziotis, and Sotiris Nikas, (2018), “Greek Banks Inch Toward Bad-Loan Relief With Complex Plans”, Bloomberg, 13 November Greek authorities are moving forward with two different plans to save their banks from a downward spiral. Some would-be investors think they’re too clever by half. To reduce non-performing loans, the Greek central bank is proposing a special-purpose vehicle created with the stricken lenders’ tax credits — themselves an …Read More

Lessons from the 2000–2002 Crisis in Argentina for the Sustainability of the Euro

Jeromin Zettelmeyer, (2018), “Lessons from the 2000–2002 Crisis in Argentina for the Sustainability of the Euro”, Peterson Institute for International Economics, 30 September n December of 2001, after two years of recession and increasingly desperate attempts to forestall a debt crisis through IMF financial support, fiscal adjustment and debt management operations, Argentina defaulted on its external debt. A few days later, on 2 January 2002, it discontinued its “convertibility regime” …Read More

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European Economic Forecast. Autumn 2018. Greece

European Commission, (2018), “European Economic Forecast. Autumn 2018. Greece”, Economic and Financial Affairs, Institutional Paper 089, 8 November Greece has exited its European Stability Mechanism programme and economic growth is taking hold, though vulnerabilities remain. Sustaining the reform momentum will be instrumental in underpinning investment and convergence. Employment is recovering and exports are expected to perform well by historical standards. Solid growth, in combination with low borrowing needs and high primary fiscal surpluses should help …Read More

European Economic Forecast. Autumn 2018

European Commission, (2018), “European Economic Forecast. Autumn 2018”, Economic and Financial Affairs, Institutional Paper 089, 8 November Growth in the euro area is forecast to ease from a 10-year high of 2.4% in 2017 to 2.1% in 2018 before moderating further to 1.9% in 2019 and 1.7% in 2020. The same pattern is expected for the EU27, with growth forecast at 2.1% in 2018, 2.0% in 2019 and 1.9% in …Read More

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Boosting investment in Greece

Barkas, P. and M. Pisu (2018), “Boosting investment in Greece”, OECD Economics Department Working Papers, No. 1506, OECD Publishing, Paris Aggregate investment has declined markedly over the crisis and has yet to recover. Reviving domestic and foreign investment is crucial to supporting the economic recovery, deepen Greece’s integration into global value chains and raising living standards. This will hinge primarily on improving the business environment, by lifting barriers to product …Read More

Generating employment, raising incomes and addressing poverty in Greece

Bulman, T. and M. Pisu, (2018), “Generating employment, raising incomes and addressing poverty in Greece”, OECD Economics Department Working Papers, No. 1505, OECD Publishing, Paris Employment is pivotal to strengthening Greece’s economic recovery, increasing social welfare and redressing poverty. Jobs are returning, making inroads into high unemployment, but their wages and skill levels are lower than many that were lost during the crisis. Greece’s hiring is benefiting from more flexible arrangements. …Read More

Τα πρωτεία στους έμμεσους φόρους κατέχει η Ελλάδα

Θάνος Τσίρος, (2018), “Τα πρωτεία στους έμμεσους φόρους κατέχει η Ελλάδα”, H Καθημερινή, 22 Οκτωβρίου Η Ελλάδα είναι η χώρα με τη βαρύτερη έμμεση φορολογία στην Ευρωζώνη και θα παραμείνει στην 1η θέση και για το 2019. Τα πρωτεία αποκαλύπτονται από τα προσχέδια προϋπολογισμών που κατέθεσαν οι 19 χώρες-μέλη στην Κομισιόν στο πλαίσιο των διαδικασιών του Ευρωπαϊκού Εξαμήνου. Για το 2018, οι φόροι «στην παραγωγή και στις εισαγωγές» –ένα καλάθι …Read More

Greece Is Trapped

Ferdinando Giugliano, (2018), “Greece Is Trapped”, Bloomberg, 17 October Months after exiting its international rescue program, the country faces renewed trouble in its banking system. There is no easy fix: money is short and investor patience thin. But it looks increasingly like the gradual approach pursued by Athens and the euro zone authorities is running out of steam. Lenders still bear the scars of a decade of economic crisis. Borrowers …Read More

ELSTAT – THE Greek Economy

ELSTAT, (2018), “The Greek Economy”, 12 October The “Greek Economy” publication aims to provide the latest key economic information on Greece in a clear and comprehensive manner. Written in both the Greek and English languages, it is designed for users of statistics who seek updated information on recent economic developments, as well as long-term economic trends. Relevant Posts ELSTAT: The Greek Economy, 13 April 2018

Greece: What to expect after the bail-out

Zsolt Darvas, (2018), “Greece: What to expect after the bail-out”, Bruegel, 9 October After being under the close scrutiny of three financial assistance programmes since May 2010, Greece has finally left the bail-out in August 2018. How different is the post-bail-out era from the preceding eight years? Will Greece be able to stand on its own? And how might the country improve its economic outlook? Relevant Posts Emilios Avgouleas, Barry Eichengreen, …Read More