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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

Why the Greek Deal Will Work

Kaletsly, Anatole, (2015), “Why the Greek Deal Will Work”, Project Syndicate, 22 July Now that Greek banks have reopened and the government has made scheduled payments to the European Central Bank and the International Monetary Fund, does Greece’s near-death experience mark the end of the euro crisis? The conventional answer is a clear no.According to most economists and political commentators, the latest Greek bailout was little more than an analgesic. …Read More

Could there be political contagion from Greece?

Ruparel, Raoul, (2015), “Could there be political contagion from Greece?”, Open Europe blog, 21 July As the dust settles following the latest agreement between Greece and its creditors it is worth stepping back and examining what it, along with Syriza’s time in office so far, might mean for other peripheral countries and other rising populist parties in Europe. Raoul Ruparel looks at the potential for political contagion. Relevant Posts Slaughter, …Read More

Syriza Was In A Lose-Lose Situation

Galbraith, James K, (2015), “Syriza Was In A Lose-Lose Situation”, Social Europe Journal, 17 July As a friend of – and advisor to – former Greek finance minister Yanis Varoufakis, James K. Galbraith has followed the negotiations up close from the start. Here he talks to Thomas Fazi about the latest bailout deal, the Greek government’s negotiating strategy and the lessons of the Greek tragedy for the European left.   …Read More

Why Greeks voted the way they did in the bailout referendum

Jurado,  Ignacio, Konstantinidis,  Nikitas, Walter, Stefanie, (2015), “Why Greeks voted the way they did in the bailout referendum”, LSE blog, 20 July The recent ‘Greferendum’ on a draft bailout proposal submitted by the European Commission highlights the confounding effects of economic and political interdependence on democratic politics. Whereas the British electorate will be given up to two years in order to deliberate and decide over British membershipin the EU (having already opted out …Read More

Germany and Greece: In Victory, Magnanimity?

Funk Kirkegaard, Jacob, (2015), “Germany and Greece: In Victory, Magnanimity?”, Real Time Economic Issues Watch, Peterson Institute for International Economics, 14 July The agreement between Greece and its international creditors announced on Monday represents a predictable capitulation by the Greek government from a position advanced for weeks by Prime Minister Alexis Tsipras. Faced with the dire repercussions of an exit from euro area institutions—including a collapse of its banking system …Read More

Five Lessons on Greece

Dabrowski, Marek, (2015), “Five Lessons on Greece”, Bruegel publications, 17 July The agreement reached at the Eurosummit in the early hours of on July 13[1] marks yet another dramatic turning point in the five-year history of attempts to avoid Greece’s sovereign default and its potential exit from the euro area. It is too early to say whether it will be successful or not. Many important details such as fiscal targets, …Read More

Greece should prepare for Grexit and then not do it

Wyplosz, Charles, (2015), “Greece should prepare for Grexit and then not do it”, Voxeu, 20 July There is a high likelihood that Grexit will be back on the table. This column argues that Greece can strengthen its negotiating position if it is prepared for exit. Grexit remains a disastrous choice, but it has become the default option for Greece and its creditors. However, preparing for Grexit does not mean leaving the …Read More