Ruparel, Raoul, (2015), “How could the third Greek bailout change without the IMF?”, Open Europe blog, 31 July. The IMF has pulled further back from joining the third Greek bailout. How much difference might this make to the funding and nature of the bailout? Could it jeopardise it entirely? Open Europe’s Raoul Ruparel investigates. Relevant Posts Galbraith, James, (2015), “The IMF’s “Tough Choices” on Greece”, Project Syndicate, 16 June El-Erian, …Read More

Pelagidis, Theodore, (2015), “The Greek bailout drama: Is this time different?”, Brookings Institute, 27 July Economists and analysts around the world, believing a Grexit almost inevitable just a month ago, now insist that the proposed deal between the Greek government and the creditors is only band aid for Greece’s economy and so, it will not work. Well, of course, after five years of depression, having the troika back in Athens to …Read More

Varoufakis, Yanis, (2015), “The Lethal Deferral of Greek Debt Restructuring”, Project Syndicate, 28 July The point of restructuring debt is to reduce the volume of new loans needed to salvage an insolvent entity. Creditors offer debt relief to get more value back and to extend as little new finance to the insolvent entity as possible. Remarkably, Greece’s creditors seem unable to appreciate this sound financial principle. Where Greek debt is …Read More

Eichengreen, Barry, Evans, Gary, Αllen, Peter, (2015), “Escaping the Greek Debt Trap”, Βloomberg View,  27  July Greece’s debt is unsustainable. The International Monetary Fund has said so, and it’s hard to find anyone who disagrees. The Greek government sees structural reform without debt reduction as politically and economically toxic. The main governing party, Syriza, has made debt reduction a central plank of its electoral platform and will find it hard to hold on …Read More