troika




Less is more: The Greek government needs a chisel, not a sledgehammer

By Jens Bastian via MacroPolisThe parliamentary majority achieved by the SYRIZA-led coalition government following the 25 January elections constitutes a strong political mandate in mathematical terms. Among one of the many immediate challenges facing the new administration is trying to translate its numerical advantage into a majority of support among Greek citizens, including those who did not vote for the senior coalition party. 




Who can blame Greek voters?

By Benjamin Cole via HistorinhasThe unemployment in Greece is 25 percent. The Greek economy has shrunk by 29% since 2009. That is a full-blown economic depression, an outright failure of macroeconomic policy.


Syriza’s victory: Greeks reject Europe’s recipe but they need Brussels’ support

MADRID | By JP Marín ArreseThe landslide victory snatched by leftwing Syriza plus the sizeable score recorded by parties opposed to the austerity measures represents a challenge to Europe’s orthodoxy in addressing real adjustment. Greek voters have voiced their rebuke to policies encompassing significant sacrifices but failing to redress a dismal economic record. Scrapping key elements of the welfare state and imposing harsh conditions on citizens has resulted in widespread poverty. In addition, the sentiment the troika was running the country has infuriated many of those going to the polls on Sunday. For all the popular support received, Tsipras faces a  formidable challenge ahead in delivering his election promises.



What next Greece?

By Gabriel Sterne via MacroPolisIt is easier to write down big questions on Greece’s future; harder to answer them: (1)   Will Syriza win with an overall majority?; (2)   Will a new programme be agreed in time?; (3)   To what extent will it stay on track?; (4)   How much additional debt relief and financing will the Troika give to Greece, and in what circumstances?; (5)   If and when the wheels come off the programme, is an exit inevitable? Would it be managed or chaotic? One thing we can be sure about though. The scene is set for a political showdown, the likes of which the Euro-crisis has not yet seen.