Category Archives: The Greek Economy

Dec 1 2016

The Greek crisis: An autopsy

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By Pierre-Olivier Gourinchas, Thomas Philippon, Dimitri Vayanos The Greek crisis is one of the worst in history, even in the context of recorded ‘trifecta’ crises – the combination of a sudden stop with output collapse, a sovereign debt crisis, and … Continue reading

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Oct 13 2016

The Political Economy of NPLs resolution: Ownership and conditionality

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By Eleni Panagiotarea Greece’s non-performing exposure ratio is the second highest in Europe, largely linked to the unprecedented contraction of domestic economic activity in recent years. Causality is known to go both ways, with persistently high non-performing loans (NPLs) constituting … Continue reading

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Sep 16 2016

The Greek crisis is a crisis of production, not of public finance

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By Antigone Lyberaki The Greek economic crisis is a crisis of production. Its key actor is a unique feature of the economy, the Greek family firm. Seen through that prism, the crisis is simply another episode in the story of … Continue reading

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Jun 27 2016

No respite: Greece’s relationship with Europe after Brexit

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By Angelos Chryssogelos The vote for Brexit in the referendum of 23 June has obvious immediate effects for Greece. Increased uncertainty will hamper Greece’s economic recovery. When the UK formally exits the EU, the consequences for Greek workers and students … Continue reading

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Jun 14 2016

The ECB grants debt relief to all Eurozone nations except Greece

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By Paul De Grauwe Greece may be about to get some debt relief, although there is still resistance to the idea. This column argues that the ECB has been providing other Eurozone countries with debt relief since early 2015 through … Continue reading

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Apr 6 2016

Greece. The country with the half Drachma

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By Andreas Koutras A few days after the introduction of the bank capital controls and with thousands of pensioners queuing up outside the bank branches, the Prime Minister’s Office received a piece of research on the effect of the capital … Continue reading

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Nov 24 2015

The Left in government again: Principled politicians and pragmatic policies – A lesson on how to square the circle

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By Dimitris Sourvanos (LSE) and Kyriaki Nanou (University of Nottingham) Last week Euclid Tsakalotos gave a talk at the LSE discussing from his own experiences – as (the current) finance minister in Greece and as a lifelong Marxist – the … Continue reading

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Oct 19 2015

Questioning Greece’s future from the other side of the Atlantic

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By Eleni Louri-Dendrinou In the last month (20 Sept-18 Oct 2015) I visited a number of universities and think tanks in Canada and the US to give a series of lectures supported by the Onassis Foundation lectureships program. Visiting six … Continue reading

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Oct 15 2015

On Structural Reforms and Debt Relief

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By Prof Costas Milas, Dr Theodore Panagiotidis and Periklis Boumparis The recent trip of the Greek Prime Minister to the US was dominated by repeated calls for debt relief. The Greek pile of debt, currently at 177% of the country’s GDP, is … Continue reading

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Jul 6 2015

Experts react: Greek referendum

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The final result of the Greek referendum saw 61.3 per cent of voters reject the proposal, with 38.7 per cent voting in favour. EUROPP’s contributors express their reactions to the result and what it could mean for Greece’s future in … Continue reading

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