This site is for archive purposes. Please visit for latest updates
Go to Top


Privatizations and Long Run Growth: Doing it Right?

Ioannides, Yannis, (2013), “Privatizations and Long Run Growth: Doing it Right?”,, 7 April. Yannis Ioannides, in a presentation at McGill University, Montreal, on April 4, 2013, discussed the issue of privatizations in Greece, as part of the stabilization program and Greece’s agreements with the Troika. Massive privatizations were put on the agenda of negotiations with the lenders, perhaps as a way to make assistance to Greece more palatable to …Read More

Future Scenarios for the Eurozone: 15 Perspectives on the Euro Crisis

Scenario Team Eurozone 2020, (2013), “Future Scenarios for the Eurozone: 15 Perspectives on the Euro Crisis”, Friedrich Ebert Stiftung, March. The Eurozone is standing at a crossroads, facing the biggest challenges in its history: the systemic crisis and the political attempts to overcome it have far-reaching consequences for the future of the Economic and Monetary Union, European integration and Europe in the world. By identifying the main driving forces that …Read More

Why is the Greek economy collapsing? A simple tale of high multipliers and low exports

Alcidi, Cinzia  Gros, Daniel, (2012), ‘Why is the Greek economy collapsing? A simple tale of high multipliers and low exports’,, 21 December. In an attempt to understand why the Greek economy is collapsing, this Commentary points out two key aspects that are often overlooked – the country’s large multiplier and a bad export performance. When combined with the need for a large fiscal adjustment, these factors help explain how fiscal consolidation in …Read More

The probability of Greek exit, revisited

Jens Nordvig, (2012), ‘Τhe probability of Greek exit, revisited’,, 17 December. Fears of an imminent Greek exit from the Eurozone have subsided, for now. This column attempts to measure the probability of a Greek exit, finding that the changing fortunes of Greek political parties, and the possibility of an early election, mean that the risk of a Greek exit may actually be quite high. It suggests that, despite investors’ …Read More

Greece’s Bogus Debt Deal

Mody, Ashoka, (2012), ‘Greece’s Bogus Debt Deal’,, 14 December. The process of official forgiveness of Greek debt has begun. Referred to as “official sector involvement” (OSI), it includes several initiatives aimed at reducing Greece’s debt/GDP ratio to 124% in 2020, from roughly 200% today. Even as the deal was announced, however, newspaper reports suggested that officials recognized that the measures would be insufficient to meet the target; further negotiations …Read More

Greece: Caught Fast in the Troika’s Austerity Trap

Argitis, Giorgos, (2012), ‘Greece: Caught Fast in the Troika’s Austerity Trap’ , The Levy Economics Institute of Bard College, December. On November 27, 2012, the Eurogroup reached a new “Greek deal” that once more discloses that there is no political will to address Greece’s debt crisis, or the country’s economic and social catastrophe. This fact increasingly makes Greeks think that the sovereign debt crisis incorporates significant geoeconomic and geopolitical interests …Read More

The never-ending greek crisis: A tragedy without a catharsis

Katsikas, Dimitrios, (2012), “The never-ending greek crisis: A tragedy without a catharsis”, Revista de Estudios Europeos, no 60 Jul-Dec, pp.33-52. This article presents an overview and analysis of the crisis in Greece. It is argued that the origins of the crisis lie with deep structural problems of the Greek economy and state, which had been left unresolved for too long. The global financial crisis exposed these problems and led Greece …Read More

Smart choices for growth

Ζachmann, George, (2012), ‘Smart choices for growth’,  Bruegel, 28 November. Recovery in Greece, Italy, Portugal and Spain is held back in part by structural barriers. Overcoming these requires structural reform and public investment. Given the limited availability of political and financial capital, prioritising reform efforts and spending is important, but difficult. The different success factors for individual sectors are complementary. Using the example of the high-tech industry, we make the case …Read More