De Grauwe, P. (2015) “The Greek Election 2015 – Revolt Of The Debtors“, Social Europe Journal, 05 January. The Greek debt crisis that erupted in 2010 is back and again threatens the stability of the Eurozone. That crisis was the result of two factors. First, an unbridled spending drift of both the private and the public sectors in Greece during the boom years of 2000-2010, which led to unsustainable …Read More
Mendelsohn, J. (2015) “Uncertain Silver Linings, The European Magazine, Why Greece Should Not Leave the Euro Column, 07 January. Unlike other European politicians, Alexis Tspiras may not be making empty promises. He may actually present a chance for real change. Radical change. In light of the Greek elections and a possible Syrizian win, Europe, and Europe’s North in particular, has a lot to fear. Let’s not kid ourselves, Tspiras …Read More
Mitchell, B. (2014) “Greece – two alternative views“, Bill Mitchell Blog, Modern Monetary Theory… Macroeconomic Reality, 24 December. When I was in Europe recently, I had interesting discussions about the future of Italy, Greece and Spain with various people, particularly in relation to trying to understand the apparent dissonance between the strong support for the euro and the devastation that membership of the common currency has created in these …Read More
Mason, P. (2014) “Greece election: opposition party’s main enemy will be time“, Channel 4 News, 21 December. There’s a quiz doing the rounds on Facebook about Greece’s radical left opposition party Syriza, called “Are You Syriza Enough?”. The last question is: “Do you think Syriza will succeed as a government?”. The choice of answers are not flattering to the far left party’s prospects: No, No way, Haha No, or …Read More
Davison, R. (2014) “Despite a looming political crisis, Greece is no longer the threat to the Eurozone that it was in 2012“, LSE EUROPP, 22 December. The Greek parliament is due to hold a second round of voting on 23 December to elect the country’s next president, following an unsuccessful vote last week. Remy Davison writes that while the threat of a political crisis is very real, the situation …Read More
Panagiotarea, E. (2014) “The Greek Turnaround: Mending the Fragility and at What Price“, in: Europe – Surging Ahead, Panorama – Insights into Asian and European Affairs, 02/2014, σσ. 59-70, 19 December. Introduction Greek economic adjustment was never going to be an easy task. For one, the starting imbalances were grave, hidden from view by years of budgetary misreporting and rudimentary surveillance, while the country’s institutional capacity to undertake and …Read More
Pisani-Ferry, J. (2014) “How to climb a mountain with both hands tied“, VoxEU Organisation, 07 November. A triple-dip recession in the Eurozone is now a distinct possibility. This column argues that additional monetary stimulus is unlikely to be effective, that the scope for further fiscal stimulus is limited, and that some structural reforms may actually hurt growth in the short run by adding to disinflationary pressures in a liquidity …Read More
Louri-Dendrinou, Ε. (2014) “Economic and financial changes since the onset of the global and euro area crises“, LSE EUROPP Blog, Greece: Taking Stock, 06 November. With the introduction of the euro and the mispricing of sovereign (Greek) risk, a flux of funding inundated Greece and helped fuel an impressive growth rate (averaging 4%) in 2000-2008. Growth, combined with low inflation since monetary policy was managed by the European Central …Read More
Afonso, A., Zartaloudis, S. & Papadopoulos, Y. (2014) “How party linkages shape austerity politics: clientelism and fiscal adjustment in Greece and Portugal during the eurozone crisis“, Journal of European Public Policy, 29 October. Drawing on an analysis of austerity reforms in Greece and Portugal during the sovereign debt crisis from 2009 onwards, we show how the nature of the linkages between parties and citizens shapes party strategies of fiscal …Read More
Konstandaras, N. (2014) “Greece’s Economic and Political Traps“, The New York Times Opinion Pages, 26 October. Five years into the Greek crisis, it is becoming increasingly difficult to hope that it will end anytime soon. Perhaps we expected too much: that the largest international bailout in history would help set the economy back on its feet within a couple of years; that we could put the problems that had …Read More
