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Third Greek Bailout likely to overcome national hurdles

Ruparel, Raoul, (2015), “Third Greek Bailout likely to overcome national hurdles”, Open Europe blog, 18 Αυγούστου When it comes to issues around the bailouts we often hear the term “national procedures” but it’s not always entirely clear who or what this involves. It refers to the approval of member states of what is agreed at the Eurogroup with regards to the bailouts, however, different countries have different procedures. The large …Read More

Greece’s debt burden can and must be lightened within the Euro – There will be no confidence and no growth in Greece without a solution to the debt problem.

von Bogdandy, Armin, Fratzscher, Marcel, Wolff, Guntram B., (2015), “Greece’s debt burden can and must be lightened within the Euro – There will be no confidence and no growth in Greece without a solution to the debt problem.”, Bruegel Institute, 5 August. Perhaps the greatest damage caused by the confrontation with Greece is a general loss of confidence. If we want to get Greece back to growth, people, companies and investors …Read More

The Challenges of the Greek Crisis

Crawford, Dan, (2015), “The Challenges of the Greek Crisis”, US/ Global Economics, Angry Bear Blog, 31 July. The Greek crisis has abated, but not ended. Representatives of the “troika” of the European Commission, the European Central Bank and the International Monetary Fund returned to Athens for talks with the Greek government about a new bailout. This pause allows an accounting of the many challenges that the events in Greece pose to …Read More

A European Union without Greece would be a much diminished force

Charountaki, Marianna, (2015), “A European Union without Greece would be a much diminished force”, LSE blog, 30 July. What would a failure to resolve the Greek debt crisis mean for the EU as a whole? Marianna Charountaki writes that while the debate over Greece has often focused on narrow economic issues, a Grexit would have far wider implications, undermining the foundations of the integration project and necessitating a complete restructuring of the …Read More

Greece: the Paradox of power

Featherstone, Kevin, Papadimitriou, Dimitris, (2015), “Greece: the Paradox of power”, LSE blog, 31 July. Why doesn’t Greece reform? Over the past few years the inability of successive Greek governments to deliver on the demands of international creditors has been a key feature of Greece’s bailout drama. Frustrated observers have pointed to various pathologies of the Greek political system to explain this underperformance: the lack of political will; entrenched sectoral interests …Read More

In Defense of Varoufakis

El-Erian, Mohamed A., (2015), “In Defense of Varoufakis”, Project Syndicate, 29 July. From blaming him for the renewed collapse of the Greek economy to accusing him of illegally plotting Greece’s exit from the eurozone, it has become fashionable to disparage Yanis Varoufakis, the country’s former finance minister. While I have never met or spoken to him, I believe that he is getting a bad rap (and increasingly so). In the process, …Read More

How to keep Greece in

Odendahl, Christian, (2015), “How to keep Greece in”, Center for European Reform, 27 July A paralysed banking system and a lingering threat of exit from the eurozone would hurt any economy. Greece needs swift action to restore its financial sector, an end to all threats of Grexit, a bigger EU investment programme than currently planned, debt relief and a Greek-led cross-party plan on institutional reforms. Relevant Posts Eichengreen, Barry, Evans, Gary, Αllen, Peter, (2015), …Read More

What Next After Tsipras Dashed Schäuble’s Hopes For Grexit?

Hoffer, Frank, (2015), “What Next After Tsipras Dashed Schäuble’s Hopes For Grexit?”, Social Europe Journal, 27 July A Greek government forced to bow to the impossible, a referendum brushed aside, the Franco-German partnership damaged, European compromise diplomacy replaced by ultimatums, the euro in limbo, large parts of Europe swept by anti-German fear and resentment and another €83bn sunk into a doomed “rescue package”. Not quite how successful policies are supposed …Read More

The Euro Summit deal: defeat or victory? A response to Robert Howse

Ioannidis, Michael, (2015), “The Euro Summit deal: defeat or victory? A response to Robert Howse”, Verfassungsblog.de, 16 July The prevailing perception of last Monday’s Euro Summit Agreement is that it amounts to a humiliating defeat of the Greek government. In a thought-provoking piece published on Verfassungsblog, Professor Robert Howse argues the opposite. He invites us to read the Agreement as the outcome of a successful strategy of the Greek side. …Read More

Intentionally or otherwise, Schäuble has killed off the prospect of a Grexit

Otero-Iglesias, Miguel, (2015), “Intentionally or otherwise, Schäuble has killed off the prospect of a Grexit”, LSE blog, 23 July One of the more controversial ideas put forward during the Greek debt crisis has been the suggestion by the German Finance Minister, Wolfgang Schäuble, that Greece could temporarily leave the Eurozone for a period of five years. Miguel Otero-Iglesias writes that while the idea itself has been widely criticised, the hard-line taken …Read More