Category Archives: The Greek Debt Crisis

Jan 13 2015

A note on Greece’s Net Investment Position

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By Panagiotis Konstantinou (AUEB) and Theodore Panagiotidis (University of Macedonia) The extent of the crisis the Greek economy has been experiencing has raised questions about the fundamental factors that led to the massive recession and the sovereign bankruptcy. The role of … Continue reading

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Dec 29 2014

The inevitable European showdown has arrived – between Tsipras and Schauble

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By Kevin Featherstone The Greek Parliament has just had three rounds of voting for a candidate whose credentials mattered to very few and for a post that is, in itself, of little consequence.  Moreover, the outcome – fresh parliamentary elections … Continue reading

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Posted by: Posted on by Ismini Demades

Dec 10 2014

How likely is a credit-less recovery in the euro area? The role of a capital markets union

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By Eleni Louri-Dendrinou It is often discussed how bank-dependent for financing investment euro area firms are. It is estimated that 80% of their investment needs are financed from banks and only 20% from capital markets, while in the US the … Continue reading

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Nov 26 2014

Does the Greek crisis prove the country’s entry into the EEC in 1981 was a mistake?

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Greece joined the European Economic Community (EEC) in 1981, however the economic crisis experienced by the country since 2010 has led some commentators and politicians to argue that Greece was granted accession prematurely. Eirini Karamouzi writes that while there were … Continue reading

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Oct 29 2014

Crisis and Democracy – The Democracy in Crisis: Social Anthropological Perspectives on the Fragility of the Social Contract

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Dr Elisabeth Kirtsoglou A number of authors and commentators on the Greek crisis have pointed out that the Greek financial predicament is a byproduct of a deep and chronic political crisis. I propose that we view this political crisis as … Continue reading

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Oct 21 2014

Greece: Taking Stock

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Economic and financial changes since the onset of the global and euro area crises By Eleni Louri-Dendrinou With the introduction of the euro and the mispricing of sovereign (Greek) risk, a flux of funding inundated Greece and helped fuel an … Continue reading

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Jun 16 2014

The Paradox of Reform

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By Nikolaos Zahariadis Crises are both risks and opportunities. They create uncertainty and ambiguity not only because they tend to bring about change but also because they simultaneously point to different directions of policy. Politicians are torn between two opposing … Continue reading

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Posted by: Posted on by HO Editor

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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Posted by: Posted on by Vassilis Monastiriotis

Sep 27 2013

Until Angela Merkel forms a governing coalition, Greece will continue to be in limbo

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by Dr Theofanis Exadaktylos     “Triumph for the queen of austerity – Pressure to the South for reforms”* Angela Merkel’s triumph in the German elections on Sunday and her re-election as Chancellor has made headlines across the world. But what does … Continue reading

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Posted by: Posted on by Ioanna Antonopoulou

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