greek crisis

Greek referendum

Greek crisis: It’s the Politics, Stupid!

PARIS | July 5, 2015 | By Francesco Saraceno | I have been silent on Greece, because scores of excellent economists from all sides commented at length and in real time on the developments of negotiation, and most has been said. But last week has transformed into a  certainty what had been a fear since the beginning. The Troika, backed by the quasi totality of EU governments, were not interested in finding a solution which would allow Greece to recover while embarking on a fiscally sustainable path. No, they were interested in a complete and public defeat of the “radical” Greek government. a



Montaña rusa

Stoxx 600 at its lowest level since February

The Corner | June 9 , 2015 | Some European indexes experienced important losses on Monday (look at the Stoxx 600 today). Market watchers say we can already talk about corrections (-10% from its peak in mid-April)



Tsipras and Merkel

Merkel steps into the Greek imbroglio

MADRID | June 3, 2015 | By JP Marín ArreseFearing the next G7 meeting held in Germany might become the platform for an acrimonious exchange over Europe’s inability to sort out the Greek imbroglio, Merkel summoned the key creditors on Monday in a desperate effort to reach a consensus offer for Athens.


kostas karamanlis

Kostas Karamanlis as comeback kid?

ATHENS | May 23, 2015 | By Nick Malkoutzis via MacroPolis | A number of eyebrows were raised last week when an opinion poll suggested that former Prime Minister Kostas Karamanlis, who oversaw Greece’s fiscal derailment between 2004 and 2009, is the most popular candidate to take over from Antonis Samaras as New Democracy leader. 



Greece and its lenders: Where do you start?

Greece and its lenders: Where do you start?

ATHENS | April 8, 2015 | By Nick Malkoutzis via MacroPolis | Since it was first recorded in 1944 by American public administrator David Lilienthal, the following anecdote has been told many times and in many ways: A traveller asks a local man for directions and, after much thought, the latter turns to the visitor and says: “My friend, I tell you; if I were you, I wouldn’t start from here.” As Greece and the eurozone remain some distance apart on how to conclude their bailout negotiations, it seems a good time to return to this tale.


Jean Tirole

Europe at a crossroads

April 6, 2015 | Guest post by Jean TiroleEmbroiled with the Greek crisis, European policymakers will soon have to step back and reflect on the broader question of the future of the Eurozone. Before calling for an exit or, on the contrary, for further integration, it is worth pondering over the consequences of each option.