via The Daily Shot
Greece
Greece vs Germany: Monty Python’s take
(courtesy of @nereidadin)
Tsipras’ choice : running with the hare and hunting with the hounds
On the surface, Tsipras’ decision to hold a Referendum on the EU agreement proposal seems irreprehensible. This is a crucial decision for Greece which would have far reaching economic and political implications for the next few years (Drachma vs Euro, Russia/EU influence). Democracy requires that the people should decide. This narrative is nonsense. Tsipras has […]
The GREXIT probability
The current state of affairs in the Greece’s drama makes Grexit slightly more likely than the alternative of Greece staying in the Eurozone. The Greek Parliament has just approved the Referendum proposed by Prime Minister Tsipras for voters to approve or reject the creditors’ proposal on July the 5th. Now the unfolding of events looks […]
Greece fast (bank) runners
Guess who is (and has been) running faster out of bank deposits in Greece ? source: @M_-McDonough, via The Daily Shot
What went wrong (and how to fix it) : lesson for Europe from the Greek crisis
On june 3 I took part to the Conference on ” A new growth Model for the Greek Economy” presenting a paper “What went wrong (and how to fix it): lessons for Europe from the Greek crisis”. Here are the slides of my presentation, here is my Voxeu Column and here the version in Italian
The Greek Saga and Redemptions
The next two weeks are going to be crucial for the Greek saga. The Frankfurter Allgemeine Zeitung reports that the Greek government has about until the first week of April before running out of cash. Assuming this is true, a deal on reforms will have to be signed off by then. Debt coming due is […]
Tsipras vs Merkel: A Sequential Bargaining Approach
The large victory of the Syriza party in Greece, with Tsipras just one seat below absolute majority (see Table 1 below) raises the questions :”What will happen now in the Eurozone? Is a Grexit scenario possible?”My take here is that not much is likely to happen, except some tough bargain between the new government and […]
Now What? (My Talk In Athens)
Today at 5pm I am giving a talk on “What’s Wrong With Europe” at the Athens Biennale. The AB is an International Art Event, which this year devotes a section to Economics (Europe and the Crisis, “Now What?”) . The slides of my presentation are here
A Debt Buy-Back Is Bad for Greece
According to FT Deutschland (quoted by Eurointelligence) on Saturday EU ministers agreed on a mix of measures, including buyback of Greek debt with EFSF money, tapping ECB and national central banks profits on Greek bond purchases and lowering interest rates on bilateral loans to Athens. These buybacks are beneficial to creditors (now mainly EU and […]
The Troika’s Disaster
The new delay in the disbursement of the tranche of 44 billion from the “troika” (ECB, EU, IMF ) to Greece poses serious problems of economic and political nature to Greece, the entire Euro zone, but also to the International Monetary Fund. it threatens the solvency of the Greek banking system, for whose recapitalization about […]
Contagion? What Contagion?
The Greek bankruptcy (happened already with the debt restructuring), the ungovernability of the country sanctioned by the polls, and the prospect of exit from the Euro, evoke the specter of “contagion”. The fear shaking markets, governments as well as depositors, is that the precipitation of the Greek crisis will cause a crack on a continental […]
On Reuters on Privatizations
Kylie MacLellan’ s article on Privatizations in EU, briefly quoting an interview
Greek Sell-Out
Article (in German) on Finaztreffe , quoting my post on Greek privatizations from voxeu
Two Lessons from the Greek Crisis
(da voxeu ) The new rescue plan for Greece signed in Brussels last week and accepted today by private investors combines “new money” (130 billion from the EU and the IMF) with “debt forgiveness”. Private holders of the 177 billion Greek debt issued under Greek law (out of 206 billion of private debt) will take […]
My Short Piece on the Washington Post on the Greek rescue Plan
Here is my short piece, together with those of a few other well known academics, on the Washington Post’s Ezra Klein Wonk’s Blog
Debating Italy and Greece on The Real News Network
More at The Real News
Interview with Financial Times Deutschland
My interview with FT Deutschland correspondent Martin Kaelble on the “Vienna Initiative” to save Greece (use Google translate bar)
Privatizations On VoxEu
My article on Greek Privatizations on voxeu.org
Intervista sulle Privatizzazioni in Grecia
Intervista a Rafal Wos della Dziennik Gazeta Prawna (DGP, Polonia) “L’Unione ha costretto la Grecia alla privatizzazione ampio, che mira a stabilizzare il suo bilancio. Piano di vendere una commissione internazionale a sorvegliare. “Come ogni debitore, i Greci non hanno altra scelta, se non di seguire i termini dei loro salvatori finanziari” – in un […]