greek debt


Austerity Economics is Fraying Europe’s Social Contract

Conn M. Hallinan |  On one level, the recent financial agreement between the European Union (EU) and Greece makes no sense. Not a single major economist thinks the $96 billion loan will allow Athens to repay its debts or get the economy moving anywhere but downward.

A Greek flag

On the Greek crisis and German imbalances

NICOSIA |By Marios Zachariadis via MacroPolisPolicies undertaken from a narrow national perspective that encourage systematic fiscal surpluses, coupled with a national consensus on wage suppression between unions and industry facilitated by the state, impact negatively upon domestic spending while increasing national saving. 

Greek debt restructuring

Greek debt restructuring: the mother of all battles

BRUSSELS | July 7, 2015 | By Alexandre MatoWhen euro leaders and their finance ministers meet with the Greek government later today for a fresh round of negotiations to agree on a new economic assistance programme, the debt issue will still be the mother of all battles. Over the last few days, some economists in Brussels have gathered together ideas for putting Hellenic public finances in order.



Markets consolidate ahead of EU summit

The Corner | June 25, 2015 | As EU finance ministers are meeting for a second scheduled summit today, European equities opened lower: markets are cautiously optimistic for a deal between Greece and its creditors.


Better red than dead

MADRID | June 21, 2015 | By JP Marín Arrese | Bertrand Russell coined this famous phrase when the cold war nuclear escalation threatened the survival of the human race. A useful tip for intractable confrontations where sanguine sentiments lead conflicting sides to prefer collective ruin rather than reaching a compromise. The Greek imbroglio is a good example.

A ghost train

Greece rides the ghost train

ATHENS | June 15, 2015 | By Nick Malkoutzis via MacroPolisGreece’s negotiations with its lenders over the last few days have been more like a ride on the ghost train than a roller coaster, producing moments of sheer panic punctuated by brief spells that allow the palpitations to subside.