Category Archives: Vassilis Monastiriotis

Jul 3 2015

The IMF’s Preliminary Draft Debt Sustainability Analysis: what does it mean?

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By Vassilis Monastiriotis The release of the latest analysis by the IMF on the sustainability of the Greek debt, which states loudly that Greece will need not only a hefty new bailout but also a further debt restructuring, fueled again … Continue reading

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Posted by: Posted on by HO Editor

Jun 10 2015

The negotiation that never happened…

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by Vassilis Monastiriotis   There are – there have always been – two approaches to the Greek crisis. One, that realises that there is a domestic problem (high debt, propensity to produce new debts, state and market inefficiencies, weak institutions … Continue reading

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Posted by: Posted on by Vassilis Monastiriotis

Feb 5 2015

The going gets tough…

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By Vassilis Monastiriotis ECB’s decision, to suspend the waiver for the acceptance of Greek bonds as loan collaterals, came as a shock to Greece but was rather expected by the markets (although this does not preclude a strong ‘market reaction’). … Continue reading

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Feb 4 2015

The benign somersault

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by Vassilis Monastiriotis In the few days since the formation of the new government in Greece, a lot of water has flown under the political bridge of the Greek-Eurozone relations. Much has happened, however, also in relation to the policy … Continue reading

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Posted by: Posted on by Vassilis Monastiriotis

Jan 29 2015

From hope to concern and from concern to hopefulness

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By Vassilis Monastiriotis SYRIZA’s central pre-election motto was ‘hope’ – ‘hope is coming’. In fact, what would perhaps describe better the pre-election sentiment of the Greek public, including a big part of SYRIZA’s voters, is the word ‘concern’: concern over … Continue reading

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Jan 8 2015

Between two poor alternatives, either is ok(-ish)

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By Dr Vassilis Monastiriotis The forthcoming snap elections in Greece will inevitably be conducted in a polarised setting, between a (perceived as) pro-memorandum pro-reforms camp, represented mainly by the parties of the coalition government (New Democracy and, less so, PASOK) … Continue reading

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Apr 29 2014

Two tales of wage adjustment

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by Rebekka Christopoulou and Vassilis Monastiriotis * It is well known that in the last five years Greek wages have collapsed both in the public and in the private sector. What is perhaps less known, owing in part to the attention … Continue reading

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Jul 11 2013

The great Greek exceptionalism (on recessionary austerity and government effectiveness)

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by Dr Vassilis Monastiriotis   The latest round of negotiations between the Greek government and the ‘troika’ must have convinced even the most romantic of those following the Greek crisis that the Greek state is not serious(ly committed to the … Continue reading

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Posted by: Posted on by Vassilis Monastiriotis

Mar 19 2013

Counting the options in Cyprus: the good, the bad and the ugly

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First, let’s clarify that a bailout for Cyprus was necessary. Without this, the major banks in Cyprus would collapse in a matter of days, if not hours. People would lose their savings, financing of small and large businesses would come … Continue reading

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Oct 26 2012

On the efficiency of public investment allocations in Greece

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by Vassilis Monastiriotis After long procrastination and endless negotiations, it seems now that the reform/austerity package requested by the troika will go through and that the latest loan instalment for Greece will be released. Disappointingly, the new package contains very … Continue reading

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Posted by: Posted on by Ioanna Antonopoulou