Yves Smith, (2012), ‘Why Greece is a Model of Economic Mismanagement’, www.economonitor.com, 21 November. I note that we still haven’t heard from the Euro group meeting about what the exact plan is for Greece. As I said, my expectations are that a ‘deal’ will be stitched together at the last minute to ‘kick the can’ further down the road because I can’t see northern creditors having the political will to …Read More
Steinbock, Dan, (2012), ‘Why a Greek Lifeline Is the Lesser Evil’, www.economonitor.com, 15 November. Despite recent elusive gains, the Eurozone is teetering closer to the periphery cliff. The impending Greek default is forcing Germany, France, Brussels, ECB and IMF to unite – for the sake of Spain and Italy.
Darvas, Zsolt, (2012), ‘The Greek debt trap: an escape plan’, www.bruegel.org, 9 November. Without corrective measures, Greek public debt will exceed 190 percent of GDP, instead of peaking at the anyway too-high target ratio of 167 percent of GDP of the March 2012 financial assistance programme. The rise is largely due to a negative feedback loop between high public debt and the collapse in GDP, and endangers Greek membership of …Read More
Capone-Parisi, Elisa, (2012), ‘Macroeconomic Imbalance Scoreboard – A Visual Ranking Among 11 EZ Countries’, www.economonitor.com, 9 November. According to the EU Commission’s website, the Macroeconomic Imbalance Procedure (MIP) is a surveillance mechanism that aims to prevent and correct macroeconomic imbalances within the EU. It relies on an alert system that uses a scoreboard of indicators and in-depth country studies, strict rules in the form of a new Excessive Imbalance Procedure (EIP) …Read More
McDermott, John, (2011), ‘Greek haircuts and Greek myths — the detail’, ftalphaville.ft.com, 22 October. European leaders on Friday received some interesting weekend reading.FT Alphaville has also taken a look at “Greece: Debt Sustainability Analysis”, an assessment prepared by European Commission economists for discussion on Friday among European finance ministers. We’ve put it in the usual place.
Kiguel, Miguel, (2011) ‘Argentina and Greece: More similarities than differences in the initial conditions’, www.voxeu.org, 17 August. A decade ago Argentina was in the midst of a severe economic crisis. This column argues that the episode offers lessons for the Eurozone today. Unless Greece takes major steps to improve its competitiveness and growth prospects, the country has little hope to get out of this crisis.
Gros, Daniel, (2012), ‘The fiscal economics of a Greek exit’, www.voxeu.org, 30 May. If Greece leaves the Eurozone, many expect that it that will be forced to default. This column argues that need not be the case.How much would Greece’s creditors lose if the country were to exit the Eurozone?
