Greece

  • flappingflaggreeceoct2016
    Permalink Gallery

    Why austerity is easier to implement in some countries than others – and why this was not the case for Greece

Why austerity is easier to implement in some countries than others – and why this was not the case for Greece

It is now roughly seven years since the Greek economic crisis first emerged, but why has the crisis in Greece proven so difficult to address in comparison to other Eurozone countries? Based on an analysis of crisis management in several European states, Stefanie Walter writes that because internal reform and a euro exit were particularly costly options for Greece, […]

Share
  • Permalink Gallery

    History shows that Greece is able to implement meaningful reform

History shows that Greece is able to implement meaningful reform

Rest assured that the creditors’ preferred tune of ‘Grexit’ will be playing again this July, writes Matthias Morys. Reviewing Greece’s economic history, he argues that past experience shows that Greece is able to implement meaningful reform, but it also indicates that external pressure is crucial in unlocking the reform potential. 

Greece is heading for another showdown with its creditors. With […]

Share
  • Permalink Gallery

    Nato’s new migrant mission in the Aegean is a victory for Turkey and proof of Europe’s strategic irrelevance

Nato’s new migrant mission in the Aegean is a victory for Turkey and proof of Europe’s strategic irrelevance

A plan to deploy Nato ships in the Aegean sea to tackle people smugglers operating between Turkey and Greece was agreed in early February. Angelos Chryssogelos writes that the new mission will do little to influence the dynamics of the migration crisis, with effective management of the problem still reliant on Turkish cooperation. He also argues that by signing […]

Share

Greece: a bumpy road to salvation

Negotiations for the completion of the first review of the third bailout programme for Greece are approaching a critical stage, with the Greek government resisting some pension and tax changes, while creditors insist on credible and rigorous implementation. Lorenzo Codogno writes that differences are bridgeable within a couple of months, and a positive outcome would open the door for […]

Share

The euro area in 2016: unfinished business

What does 2016 hold in store for efforts aimed at strengthening Europe’s Economic and Monetary Union? Benedicta Marzinotto writes that when compared with previous monetary regimes, the euro area remains unstable and in need of reform. She argues, however, that the lack of political appetite for cooperative solutions implies a sovereign default is possible in Greece this year and […]

Share
  • Permalink Gallery

    Establishing ‘safe zones’ in Syria remains the most realistic route to tackling Europe’s refugee crisis

Establishing ‘safe zones’ in Syria remains the most realistic route to tackling Europe’s refugee crisis

Many of those that have left Syria since the start of the country’s civil war have passed through Greek islands on their way into Europe. James D. Athanassiou and Effie G. H. Pedaliu write that the situation for refugees on the Greek island of Lesbos constitutes a humanitarian crisis and requires urgent action from the international community. They argue […]

Share
  • Permalink Gallery

    European views on the UK’s renegotiation: Germany, Greece, Slovakia and the EU’s institutions

European views on the UK’s renegotiation: Germany, Greece, Slovakia and the EU’s institutions

The success or failure of David Cameron’s planned renegotiation of the UK’s EU membership will depend to a large extent on how the other 27 EU member states respond to his proposals. But how do countries across the EU view the UK’s renegotiation? Building on a report published in 2014 by the German Council on Foreign Relations, EUROPP is […]

Share
  • Permalink Gallery

    A European twitter sphere? What tweets on the Greek bailout say about how Europeans interact online

A European twitter sphere? What tweets on the Greek bailout say about how Europeans interact online

To what extent does twitter provide a platform for the emergence of a European public sphere? Max Hänska and Stefan Bauchowitz outline preliminary results from a study on the use of twitter by Europeans during the negotiations that produced the provisional agreement on a third bailout programme for Greece in July. They write that there is some clear evidence […]

Share
  • tsipras18septemberfeatured
    Permalink Gallery

    The new Syriza government must prioritise economic growth and job creation to get Greece back on its feet

The new Syriza government must prioritise economic growth and job creation to get Greece back on its feet

Syriza emerged as the largest party from the Greek parliamentary election held on 20 September. Ioannis Chatziantoniou writes on what the new government should do to attempt to revive the country’s economy. He argues that the key priority should be to establish long-term prospects for its workforce instead of simply short-run opportunities of employment.

Syriza has clearly emerged as the […]

Share
  • Permalink Gallery

    Greece illustrates how the politics of lending can undermine its effectiveness

Greece illustrates how the politics of lending can undermine its effectiveness

Why do bailout packages often fail to restore market confidence? Outlining results from a recent study, Terrence Chapman, Songying Fang and Randall Stone write that creditor countries tend to have a special interest in the crisis country whose loans they are backing. Weaker conditionality applied to countries deemed to have high levels of importance, however, has counter-productive effects, with […]

Share
  • newecbseptemberfeatured
    Permalink Gallery

    Greece shows the flaws in pursuing a common monetary policy response to economic shocks across the EU

Greece shows the flaws in pursuing a common monetary policy response to economic shocks across the EU

To what extent is the Greek debt crisis a function of wider flaws in the design of the single currency? Bruce Morley writes that while Greece’s debt already exceeded 100 per cent of GDP in the 1990s, it is not simply the size of a country’s debt that determines whether it is sustainable. He argues that the real problems […]

Share
  • merkel28august2015featured
    Permalink Gallery

    The two faces of Germany: how Germany’s support for refugees could counteract criticism of its handling of the Greek debt crisis

The two faces of Germany: how Germany’s support for refugees could counteract criticism of its handling of the Greek debt crisis

Throughout the Greek debt crisis, the majority of criticism from those who support a more lenient deal for Greece has been directed at Germany. As Simon Reich writes, however, Germany has also taken on a leading role in the migration crisis that has developed in southern Europe during 2015, which has placed a disproportionate burden on Greece due to […]

Share
  • varoufakiscamerascamerasfeatured
    Permalink Gallery

    What the ‘new intergovernmentalism’ can tell us about the Greek crisis

What the ‘new intergovernmentalism’ can tell us about the Greek crisis

A number of authors have argued that a ‘new intergovernmentalism’ has come to characterise EU decision-making since the financial crisis, with decisions increasingly made through intergovernmental negotiations such as those in the European Council. Christopher Bickerton writes on what the theory can tell us about the Greek crisis, noting that it helps illustrate both the febrile nature of domestic […]

Share
  • 21augustacademiafeatured
    Permalink Gallery

    How young Greeks changed their degree choices as the economy crashed

How young Greeks changed their degree choices as the economy crashed

Youth unemployment has been a persistent problem in Greece since the start of the country’s financial crisis, but how has the crisis affected the career choices made by young Greeks? Rigissa Megalokonomou writes on trends in the university subjects chosen by Greek students. She notes that there has been an increase in the popularity of courses associated with good […]

Share
  • icelandflagsunsetfeatured
    Permalink Gallery

    Iceland illustrates why political ‘hectoring’ from foreign countries is bound to fail in Greece

Iceland illustrates why political ‘hectoring’ from foreign countries is bound to fail in Greece

Iceland entered a period of financial crisis in 2008, with the country subsequently involved in a prolonged dispute over losses generated in the Netherlands and the UK by an Icelandic bank. Jon Danielsson writes that the crisis in Iceland has much in common with the ongoing crisis in Greece, not least the heavy pressure exerted on both countries by […]

Share
  • australianflag18augustfeatured
    Permalink Gallery

    What Europe could learn from Australia’s handling of the financial crisis

What Europe could learn from Australia’s handling of the financial crisis

The financial crisis affected economies across the world, but the recovery from the crisis has varied significantly, with some countries quickly returning to growth and others remaining in a prolonged period of stagnation. Mark Crosby writes on the lessons that Australia’s handling of the crisis could have for Europe. He notes that many of the reforms that allowed Australia […]

Share
  • eurocoincrimescenefeatured
    Permalink Gallery

    Rumours of the euro’s likely demise are greatly exaggerated

Rumours of the euro’s likely demise are greatly exaggerated

To what extent do the problems illustrated by the Greek debt crisis threaten the future of the Eurozone? Iain Begg writes that while the prospects for Greece continue to be deeply uncertain, the wider reforms that have been pursued across the Eurozone since the crisis still give reason for optimism about the future of the single currency.

Since 2009, when […]

Share
  • tsipras12august2015featured
    Permalink Gallery

    The lesson from the Greek crisis should be that economics exists for the good of society, not for its own sake

The lesson from the Greek crisis should be that economics exists for the good of society, not for its own sake

A Greek bailout deal has been agreed in principle between the country’s government and its creditors. Defne Gonenc writes that throughout the crisis there has been a tendency to view economics as detached from politics, with the impact of economic policies on individual citizens largely pushed to the sidelines in discussions surrounding the technicalities of a bailout deal. She […]

Share
  • wolfgangschaublejuly2015featured
    Permalink Gallery

    There is little legal basis for Wolfgang Schäuble’s claim that debt restructuring is incompatible with euro membership

There is little legal basis for Wolfgang Schäuble’s claim that debt restructuring is incompatible with euro membership

One of the key legal arguments in relation to the Greek debt crisis is whether a restructuring of Greece’s debt would be compatible with the rules contained in the EU’s treaty framework. Carsten Gerner-Beuerle writes that while several actors, notably the German Finance Minister Wolfgang Schäuble, have argued that a debt cut is incompatible with membership of the Eurozone, […]

Share
  • merkeljuly2015meetingfeatured
    Permalink Gallery

    German public opinion is caught between scapegoating Greeks and love-bombing them

German public opinion is caught between scapegoating Greeks and love-bombing them

What do German citizens think of their government’s handling of the Greek debt crisis? Imke Henkel writes that the German media has helped to perpetuate a view of the crisis which pits ‘lazy southerners’ against hard-working northern European taxpayers. However she also notes that this interpretation has generated a backlash from many Germans who are keen to emphasise the […]

Share