Category Archives: The Greek Debt Crisis

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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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

Nov 12 2012

A vote of Confidence should mean exactly that

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by Kevin Featherstone   Today, Parliament is expected to approve the new budget by a comfortable majority, with even some of last week’s rebels coming back to support the Coalition.  But this endorsement is at risk of being totally swamped … Continue reading

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Posted by: Posted on by Ioanna Antonopoulou

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