Christodoulakis Greek Endgame

From Austerity to Growth or Grexit
Erscheinungsjahr 2015
ISBN: 978-1-78348-525-3
Verlag: Rowman & Littlefield International
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 202 Seiten

The book explores in depth both the origins of the Greek debt crisis and the conditions under which the economy might be turned around from its current malaise. Greek debt turned explosive after the 2008 global crisis, through a combination of a fiscal spree and domestic policy complacency, but the unpreparedness and indecision of the European Union intensified the problem of liquidity and a massive bail-out agreement became inevitable.

However, the stringencies of the adjustment program led to more recession and unemployment, while social tension and political polarization became entrenched. In 2015, a radical Left party, Syriza, ascended to power on a ticket to end austerity and renegotiate Greece’s debt agreements, but a long-lasting growth and reform agenda is still to be settled upon. This book lays out some key reforms that would allow Greece to return to growth and, at the same time, keep the Euro, an option that still remains a cornerstone for the country’s economic and geopolitical stability.

Autoren/Hrsg.

Christodoulakis, Nicos

Inhaltsverzeichnis

Prologue / Introduction: The spectre of Grexit / PART I: THE RUN-UP TO THE CRISIS / 1. Origins: How Greece was engulfed in the crisis / 2. Complacency: Was the 2010 bail-out really inevitable? / 3. Reinventing the past: Should Greece have joined the Euro? / PART II: THE BAILOUT YEARS / 4. Getting it wrong: An appraisal of the austerity program / 5. The vicious circle: Snowballs, haircuts and hazards / PART III: THE ILLUSIONS / 6. Change currency? Illusions and miscalculations / 7. History lessons: The collapse in interwar Greece / 8. Modern lessons: Default and collapse in Argentina / PART IV: THE ESCAPE / 9. Getting it right: End recession and stabilize public debt / 10. A road map for growth: Some key fiscal reforms / 11. The feasible prosperity: A new contract for Greece / 12. The political economy of drachma: Lower wages, more inequalities / Epilogue: After the Left’s victory in Greece

Über Autor(innen)

Christodoulakis, Nicos
Professor at the Athens University of Economics and Business. Research Associate at the Hellenic Observatory, London School of Economics, UK. Former Minister of Finance for Greece (2002-2003) and Acting Chairman of the Eurogroup.

Nicos Christodoulakis is Professor at the Athens University of Economics and Business and a Research Associate with the Hellenic Observatory at the LSE. He was Greek Minister of Finance in 2002-2003, and was acting Chairman of the Eurogroup.