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As European Central Bank Convenes, How Well Has Maestro Mario Performed?

Spellman, James D. , (2016), “As European Central Bank Convenes, How Well Has Maestro Mario Performed?”, The European Institute, March2016 Euphoria in financial markets can burn off as fast as fireworks, an explosive flare-up and then, poof, gone. Many investors are wondering if the unprecedented initiatives by the European Central Bank, including negative interest rates, may be just like that, a cascade of fleeting embers. Others, though, think the restructuring underway …Read More

The Greek Pension Tragedy: A case of failure in Governance

Tinios, Platon, (2016),  “The Greek Pension Tragedy: A case of failure in Governance”, Konrad Adenauer Stiftung, 14 April The Greek pension system is one of the least successful in the world. Without providing income security at old age, it, nevertheless, hastened bankruptcy in 2010; six years later, pensions are about to derail the third successive bailout. The usual explanation splits the period in two: Failure up to 2010 was due to …Read More

In-depth Analysis/Greece’s financial assistance programme (March 2016)

Angerer, J., Hradiský, M., Ciucci, M.,Mesnard, B., Vega Bordell, J.,  Zoppé, A., (2016), “In-depth Analysis/Greece’s financial assistance programme (March 2016)”, EuroParl/IPOL PE 574.404, 5 Απριλίου After returning to growth in 2014 and showing unexpected resilience during the first half of 2015, Greece’s economy has contracted, though less than initially expected, in the second half of 2015. This contraction reflects sharp deterioration in confidence and renewed stress within the banking system during summer 2015 that ultimately led …Read More

An ever More Polarized Union: The Greek Problem and the Failure of EU Economic Governance

Notermans, Ton, (2016), “An ever More Polarized Union: The Greek Problem and the Failure of EU Economic Governance”, CESpapers – open forum #24  As the Greek economy continues on its downward trajectory, the policy debate has degenerated into a re-enactment of the neoclassics versus Keynesians controversy. Yet, the Greek crisis can be solved neither by more austerity and structural reforms nor by Keynesian reflation. The core problem lies in a form …Read More

Economic Survey of Greece 2016

OECD, (2016), ” Economic Survey of Greece 2016“, OECD, 10 March The Economic Survey of Greece says poverty has risen since the crisis to reach one third of the population. Tackling poverty and inequality must be urgent policy priorities, it adds. The survey sees the recovery strengthening in 2017 as ongoing reforms and external demand benefit investment and jobs. It stresses that successful negotiations to address public debt sustainability are …Read More

The spatial aspects of economic crisis in Greece

Petrakos, George, Psycharis, Yannis, (2016), “The spatial aspects of economic crisis in Greece”, Oxford University Press, Cambridge Journal of Regions, Economy and Society, Issue 1, Volume 9, pp. 137-152, March. This article sets out to test econometrically the performance and determinants of NUTS III regions in Greece during the recent economic crisis. Results indicate that economic crisis has further intensified regional inequalities by strengthening the prominent role of Athens metropolitan region in the development map of the country. …Read More

Financial assistance to Greece: Three programmes

Colasanti, Fabio, (2016), “Financial assistance to Greece: Three programmes”, European Policy Centre, 26 February. There are a lot of myths surrounding the bailout money that was given to Greece. Many people still believe that the money never went to the Greek people, but to the Greek and European banks; that the intervention of the euro-area governments and the IMF dealt almost exclusively with the Greek debt; that very little money was used …Read More

Clientelism and economic policy: hybrid characteristics of collective action in Greece

Trantidis, Aris, (2015), Clientelism and economic policy: hybrid characteristics of collective action in Greece, Journal of European Public Policy, 11 November How does clientelism affect policy-making? Can patrons in government discard groups of clients in order to pursue reforms in conditions of crisis? The article argues that clientelism goes beyond the exchange of votes and may permeate organizations with the capacity for collective action such as labour unions. This merger gives rise to …Read More

Poul Thomsen, Greece And IMF Cynicism

Munevar, Daniel, (2016), “Poul Thomsen, Greece And IMF Cynicism”, Social Europe Journal, 16 February For the casual reader, Poul Thomsen’s recent piece on the role of the IMF in the bailout review negotiations taking place between Greece and the Troika would seem balanced and reasonable. At the end of the day, as he has argued elsewhere, the numbers simply need to add up. For that, there is a trade-off between …Read More

Greece: Toward a Workable Program

Thomsen, Poul M., (2016), “Greece: Toward a Workable Program”, Blog iMFdirect, 11 February. Having successfully pulled Greece from the brink last summer and subsequently stabilized the economy, the government of Alexis Tsipras is now discussing with its European partners and the IMF a comprehensive multi-year program that can secure a lasting recovery and make debt sustainable. While discussions continue, there have been some misperceptions about the International Monetary Fund’s views and role in …Read More