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The Greek great depression: a general equilibrium study of its drivers

George Economides, Dimitris Papageorgiou, Apostolis Philippopoulos, (2017), “The Greek great depression: a general equilibrium study of its drivers”, Bank of Greece Working Paper 234, September This paper provides a quantitative study of the main determinants of the Greek great depression since 2010. We use a medium-scale DSGE model calibrated to the Greek economy between 2000 and 2009 (the euphoria years that followed the adoption of the euro). Then, departing from …Read More

The Political Economy of Privatisation in Greece after the Economic Crisis

Özgün Sarımehmet Duman, (2017),  “The Political Economy of Privatisation in Greece after the Economic Crisis” , LSE Blog, 6 November Among other peripheral economies of the Eurozone, the emergence of the economic crisis in Greece has disclosed its structural specificities that the long been delayed reforms for improving not only the functioning of the real economy and the financial market but also their integration with the capitalist world have been put …Read More

Beyond Austerity: Reforming the Greek Economy

Meghir, Costas, Pissarides, Christopher A., Vayanos, Dimitri, Vettas, Nikolaos (eds), (2017), “Beyond Austerity: Reforming the Greek Economy”, The MIT Press More than eight years after the global financial crisis began, the economy of Greece shows little sign of recovery, and its position in the eurozone seems tenuous. Between 2008 and 2014, incomes in Greece shrank by more than 25 percent, homes lost more than a third of their value, and …Read More

3rd Economic Adjustment Programme Progress and short-term outlook

Anna Dimitriadou, (2017), “3rd Economic Adjustment Programme Progress and short-term outlook”, Eurobank Research, Global Economic & Market Outlook, 13 October The present report summarises the latest developments in the implementation of the 3rd Economic Adjustment Programme for Greece and provides an overview of the central issues of the upcoming 3rd review, such as key prior actions, privatisations and the position of the IMF as well as a broad timeline for the period ahead. Relevant …Read More

Populism, the state and modernisation in Greece: A historical perspective

Angelos Chryssogelos,(2017), “Populism, the state and modernisation in Greece: A historical perspective”, LSE, 25 October Since the eruption of the Greek crisis in 2010, few concepts have captured the attention of public and academic debates in Greece more than populism. In lay discourse, populism – understood often as irresponsible macroeconomics and demagogy – is commonly seen as the reason behind the advent of the crisis. In academic research, an intense …Read More

ESM Board of Directors approves €0.8 billion disbursement to Greece for arrears clearance

ESM, (2017),  “ESM Board of Directors approves €0.8 billion disbursement to Greece for arrears clearance“,  Press Release, 26 October The Board of Directors of the European Stability Mechanism (ESM) today authorised the release of €0.8 billion to Greece for the clearance of arrears. This is the remaining amount of the third tranche of ESM financial assistance, approved on 7 July 2017. It will be disbursed to a dedicated account for …Read More

Greek Banks Face ‘Gangs’ in Bad-Loans Battle With Defaulters

Sotiris Nikas, Christos Ziotis, Stefania Spezzati, (2017), “Greek Banks Face ‘Gangs’ in Bad-Loans Battle With Defaulters”, Bloomberg, 19 October When Eurobank Ergasias SA, Greece’s third-biggest lender, recently went after a “strategic defaulter,” angry protesters stormed the courtroom to block its foreclosure attempt. The defaulter, whose name the lender won’t disclose, had not serviced its loans for the last five years and owed the bank 4.85 million euros ($5.7 million). Over the …Read More

Αποτελέσματα Ερευνών Οικονομικής Συγκυρίας

ΙΔΡΥΜΑ ΟΙΚΟΝΟΜΙΚΩΝ & ΒΙΟΜΗΧΑΝΙΚΩΝ ΕΡΕΥΝΩΝ, (2017), “ΑΠΟΤΕΛΕΣΜΑΤΑ ΕΡΕΥΝΩΝ ΟΙΚΟΝΟΜΙΚΗΣ ΣΥΓΚΥΡΙΑΣ”, 02 Οκτωβρίου Στην Ευρωζώνη, η βελτίωση των προσδοκιών εκπορεύεται από τη Βιοµηχανία (+1,6), τις Κατασκευές (+1,6) και το Λιανικό εµπόριο (+1,4), αφού στις Υπηρεσίες (+0,2) και την καταναλωτική εµπιστοσύνη (+0,3) καταγράφεται σχετική σταθερότητα. Σε επίπεδο των µεγαλύτερων οικονοµιών της Ευρωζώνης, το κλίµα βελτιώθηκε σε όλες και περισσότερο στην Ολλανδία (+1,9) και την Ιταλία (+1,8), ακολουθούµενο από µικρότερη άνοδο στην Ισπανία (+0,6) και οριακά στην Γερµανία (+0,5) …Read More

German election reaction: Merkel wins, but her fourth term won’t be an easy one

Hogwood, Patricia, (2017), “German election reaction: Merkel wins, but her fourth term won’t be an easy one”, LSE EUROPP, 25 September Angela Merkel’s CDU/CSU won the largest share of seats in Germany’s election on 24 September, but the election also saw a substantial rise in support for the populist Alternative for Germany (AfD). Patricia Hogwood writes that although Merkel has done enough to secure her fourth term as chancellor, she …Read More

The IMF Needs to Stop Torturing Greece

Bass, J. Kyle, (2017), “The IMF Needs to Stop Torturing Greece”, Bloomberg View, 19 Septembre “Beware of Greeks bearing gifts,” wrote the ancient Roman poet Virgil. In the 21st century, it’s the Greeks who should have been more careful about accepting offerings — specifically from the International Monetary Fund, which is now torturing the country in a misguided effort to get its money back. Relevant Posts Gelpern, Anna, (2017), «The …Read More