greek

Greece's return

The challenge in Greece: Funding an emerging economic recovery

ATHENS | By Jens Bastian via Macropolis | A fragile, uneven and weak recovery is gradually manifesting itself in the real economy of Greece. The recent data published by ELSTAT for the first two quarters of GDP performance in 2014 suggests that Greece is on course to register its first quarterly GDP level in positive territory in the third quarter this year.

greece

The IMF crisis and how to solve it

ATHENS | By Gabriel Sterne via The Agora | The IMF is approaching its 70th birthday and the Greek programme has been a candidate for one of the most credibility-sapping in its history. Here I trace the IMF’s role in programme from its stormy launch; its misfiring implementation; the Fund’s half-hearted apology; and ongoing efforts to draw lessons and revise its sovereign debt restructuring framework, which appear destined to deliver insufficient meaningful change.  A transparency revolution is both necessary and feasible. It worked for central banks in the 1990s. Why not the Fund?