Funding The Greek Crisis

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Funding the Greek Crisis

Constantinos Ikonomou
Funding the Greek Crisis Book PDF

Author : Constantinos Ikonomou
Publisher : Academic Press
Page : 336 pages
File Size : 42,7 Mb
Release : 2018-06-15
Category : Business & Economics
ISBN : 9780128145678

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Funding the Greek Crisis by Constantinos Ikonomou Pdf

How does one distinguish between European Union investments that improve welfare and those that create economic malaise? Funding the Greek Crisis: The European Union, Cohesion Policies, and the Great Recession explores the sources of the Greek Crisis that lie primarily in EU policies that appeared to have worked better for other countries but not for Greece. Without overly simplifying the Greek condition, it provides insights into policies the countries of the euro area may need to implement in order to ensure collective cohesion and individual success. Arguing that EU preferences for autonomous investments discouraged organic development with lasting implications, Funding the Greek Crisis sheds new light on the nature of regional competitiveness and public economics. Encompasses public economics, macroeconomics, international trade, competitiveness, microeconomics and regional development studies Sheds light on key policies that affect millions of EU citizens Examines Solow’s growth model Provides a different way of explaining growth from real business cycle theory

The Greek Debt Crisis

Congressional Research Service
The Greek Debt Crisis Book PDF

Author : Congressional Research Service
Publisher : Createspace Independent Publishing Platform
Page : 24 pages
File Size : 47,7 Mb
Release : 2017-05-05
Category : Electronic
ISBN : 1546483683

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The Greek Debt Crisis by Congressional Research Service Pdf

Since 2009, Greece has grappled with a serious debt crisis. Most economists believe that Greece's public debt, 180% of Greek gross domestic product (GDP), is unsustainable. The ramifications of the debt have been felt throughout the Greek economy, which contracted by 25% from its pre-crisis level. A fifth of Greeks are unemployed, with youth unemployment at nearly 50%, and the Greek banking system is unstable. Although other Eurozone governments, the International Monetary Fund (IMF), and the European Central Bank coordinated a substantial crisis response, Greece continues to face serious economic challenges. The economic crisis in Greece is also one of several major challenges currently facing the 28-member European Union (EU) that have heightened concerns about the legitimacy and structure of the EU and its institutions and raised questions about the bloc's future shape and character. Acrimonious debates among European leaders about the appropriate response to the Greek crisis and other challenges have heightened political tensions in Europe that could negatively affect the EU over the longer term. In particular, the crisis in Greece has exposed problems with the institutional architecture of the Eurozone, whose member states share a common currency and monetary policy, but retain national control over fiscal and banking policies. Recent Developments and Outlook In the short-term, attention is focused on whether the Greek government can make 6.3 billion (about $6.7 billion) in debt payments falling due in July. The Greek government and European creditors are in negotiations to unlock disbursements of financial assistance to the Greek government that would allow it to make the July repayments. If an agreement cannot be reached, Greece may again default on its debt. A key issue in current negotiations is the role of the IMF. The IMF did not participate in the third rescue package for Greece, but left open the possibility of doing so at a later date. The IMF is pushing the Greek government to implement pension and tax reforms and pushing European creditors to grant debt relief to Greece. After seven years through the crisis, how the crisis will ultimately be resolved remains unclear. Possible scenarios could include (1) Europeans continue to "muddle through" the crisis, providing financial assistance to Greece in exchange for reforms, while keeping Eurozone membership in tact; (2) Europeans provide greater flexibility to Greece on debt relief and reforms, allowing Greece to grow out of the crisis while maintaining membership in the Eurozone; or (3) an eventual splintering of the Eurozone, with Greece choosing or being forced to leave the euro in favor of a national currency ("Grexit"). Issues for Congress Impact on the U.S. Economy: Although direct U.S. exposure to Greece is limited, Europe as a whole is a major economic partner of the United States. The pace of economic recovery in the Eurozone and in Greece is expected to pick up, albeit at a still relatively low rate, but should ease some of the pressure on financial stability and on the dollar. IMF Involvement: Some analysts criticize IMF involvement in Greece, particularly extending large loans when questions surrounded the sustainability of Greek debt. Other analysts argue that IMF programs in Greece were critical for stemming contagion and ensuring stability in the global economy. U.S.-European Cooperation: The United States looks to Europe for partnership in addressing a range of global challenges. Political tensions in Europe and a focus on the Greek crisis could prevent the EU from focusing more intently on other key U.S.-European policy priorities, such as deterring Russian aggression in Ukraine and Eastern Europe and responding to conflict in the Middle East and North Africa.

Game Over

George Papaconstantinou
Game Over Book PDF

Author : George Papaconstantinou
Publisher : Createspace Independent Publishing Platform
Page : 0 pages
File Size : 55,7 Mb
Release : 2016
Category : Financial crises
ISBN : 1530703263

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Game Over by George Papaconstantinou Pdf

"In this real-life political thriller, former Finance Minister George Papaconstantinou tells the inside story of the six years during which the Greek drama changed Europe and riveted the world. It is the story of a country forced by past mistakes into unprecedented actions with enormously painful consequences. A story about the people who shaped events by trying to respond to rapidly evolving circumstances often beyond their control. About decisions - good and bad, right and wrong - taken in official and behind-the-scenes gatherings in Brussels, Berlin, Frankfurt, Paris, London, New York, Washington and Athens; in Luxembourg châteaux courtyards, Davos kitchens and Bilderberg gatherings; in elegant offices and dreary basement meetings rooms.... Six years down the road since the crisis erupted, Greece is in its third bailout, still in a severe social and economic crisis, and there are so many questions. Were other solutions available? Should Greece have threatened to default in order to get a better deal? Should there have been debt relief from the beginning? Would Greece have been better off if it had left the Euro? Has Greece saved the Euro but not itself? The book addresses these questions with the eye of someone at the heart of decision-making during the crisis."--

Bust

Matthew Lynn
Bust Book PDF

Author : Matthew Lynn
Publisher : John Wiley & Sons
Page : 290 pages
File Size : 50,7 Mb
Release : 2010-12-21
Category : Business & Economics
ISBN : 9781119990680

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Bust by Matthew Lynn Pdf

Athens, Greece—May Day 2010. The International Monetary Fund (IMF) and the European Union (EU) were putting together the final details of a $100 billion euro rescue package for the country. The Greek Prime Minister, George Papandreou, had agreed to a savage package of “austerity measures” involving cuts in public spending and lower salaries and pensions. Outside, riot police were deployed as protestors gathered to fight the austerity program. A country with a history of revolution and dictatorship hovered on the brink of collapse—with the world’s financial markets watching to see if the deal cobbled together would be enough to both calm the markets and rescue the Greek economy, and with it the euro, from oblivion. In Bust: Greece, the Euro, and the Sovereign Debt Crisis, leading market commentator Matthew Lynn blends financial history, politics, and current affairs to tell the story of how one nation rode the wave of economic prosperity and brought a continent, a currency, and, potentially, the global financial system to its knees. Bust is a story of government deceit, unfettered spending, and cheap borrowing: a tale of financial folly to rank alongside the greatest in history. It charts Greece’s rise, and spectacular fall from grace, but it also explores the global repercussions of a financial disaster that has only just begun. It explains how the Greek debt crisis spread like wildfire through the rest of Europe, hitting Ireland, Portugal, Italy, and Spain, and ultimately provoking a crisis that brought the euro to the edge of collapse. And it argues that the Greek crisis is just the start of a decade of financial turmoil that will eventually force the break up of the euro, and a massive retrenchment in the living standards of all the developed economies. Written in a lively and entertaining style, Bust: Greece, the Euro, and the Sovereign Debt Crisis is an engaging and informative account of a country gone wrong and a must-read for anyone interested in world events and global economics.

The Internal Impact and External Influence of the Greek Financial Crisis

John Marangos
The Internal Impact and External Influence of the Greek Financial Crisis Book PDF

Author : John Marangos
Publisher : Springer
Page : 239 pages
File Size : 44,5 Mb
Release : 2017-08-03
Category : Business & Economics
ISBN : 9783319602011

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The Internal Impact and External Influence of the Greek Financial Crisis by John Marangos Pdf

This contributed volume explores the political economy and socioeconomic aspects of the Greek Financial Crisis both within the country's borders and as part of the global economy. With chapters authored by international experts, this book examines and explicitly deals with specific and important issues that have been ignored by the dominant socioeconomic theory and practice, which have largely focused on the causes and broad economic consequences of the crisis. Discussions include the efficacy of new EU institutions created to address the crisis, the rise of unregistered economic activity, and comparisons with financial crises in countries beyond Europe. This diverse collection argues that the Greek Financial Crisis was not just an economic crisis, but a political and social crisis as well, one with repercussions beyond Europe.

Living Under Austerity

Evdoxios Doxiadis,Aimee Placas
Living Under Austerity Book PDF

Author : Evdoxios Doxiadis,Aimee Placas
Publisher : Berghahn Books
Page : 374 pages
File Size : 54,8 Mb
Release : 2018-07-20
Category : Social Science
ISBN : 9781785339349

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Living Under Austerity by Evdoxios Doxiadis,Aimee Placas Pdf

Since its sovereign debt crisis in 2009, Greece has been living under austerity, with no apparent end in sight. This volume explores the effects of policies pursued by the Greek state since then (under the direction of the Troika), and how Greek society has responded. In addition to charting the actual effects of the Greek crisis on politics, health care, education, media, and other areas, the book both examines and challenges the “crisis” era as the context for changing attitudes and developments within Greek society.

The Greek Debt Crisis

Christos Floros,Ioannis Chatziantoniou
The Greek Debt Crisis Book PDF

Author : Christos Floros,Ioannis Chatziantoniou
Publisher : Springer
Page : 313 pages
File Size : 43,7 Mb
Release : 2017-11-08
Category : Business & Economics
ISBN : 9783319591025

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The Greek Debt Crisis by Christos Floros,Ioannis Chatziantoniou Pdf

This book sheds new light on the Greek economic challenges and helps readers understand the current debt crisis. Chapters from leading experts in the field identify and outline potential solutions to the on-going decline of the Greek economy by considering both Eurozone-adopted current policy framework explanations and potential alternative explanations. In contrast to the standard chronological approach toward the Greek debt crisis typically adopted by other texts, this book draws on the experience and views of specialized economists and offers divergent opinions that could potentially form alternative solutions. It will be of interest to researchers and academics interested in the Greek economy, modern financial modelling, and risk management.

Greek Culture After the Financial Crisis and the Covid-19 Crisis

Panagiotis E. Petrakis,Kyriaki I. Kafka,Pantelis C. Kostis,Dionysis G. Valsamis
Greek Culture After the Financial Crisis and the Covid 19 Crisis Book PDF

Author : Panagiotis E. Petrakis,Kyriaki I. Kafka,Pantelis C. Kostis,Dionysis G. Valsamis
Publisher : Palgrave Macmillan
Page : 0 pages
File Size : 46,6 Mb
Release : 2022-09-13
Category : Business & Economics
ISBN : 3030810208

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Greek Culture After the Financial Crisis and the Covid-19 Crisis by Panagiotis E. Petrakis,Kyriaki I. Kafka,Pantelis C. Kostis,Dionysis G. Valsamis Pdf

This book studies the evolution in human thought, action, and behavior as a result of the 2008 fi nancial crisis and the Covid-19 crisis. Through the presentation and analysis of data, as recorded for at least a decade, and using the Greek economy as a case study, the authors examine the changes in social and human capital, increasingly risk-averse behavior, and changes in people’s general psyche and economic action in Greek society and economy.

Greek Culture After the Financial Crisis and the Covid-19 Crisis

Panagiotis E. Petrakis,Kyriaki I. Kafka,Pantelis C. Kostis,Dionysis G. Valsamis
Greek Culture After the Financial Crisis and the Covid 19 Crisis Book PDF

Author : Panagiotis E. Petrakis,Kyriaki I. Kafka,Pantelis C. Kostis,Dionysis G. Valsamis
Publisher : Springer Nature
Page : 266 pages
File Size : 54,6 Mb
Release : 2021-08-29
Category : Business & Economics
ISBN : 9783030810184

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Greek Culture After the Financial Crisis and the Covid-19 Crisis by Panagiotis E. Petrakis,Kyriaki I. Kafka,Pantelis C. Kostis,Dionysis G. Valsamis Pdf

This book studies the evolution in human thought, action, and behavior as a result of the 2008 fi nancial crisis and the Covid-19 crisis. Through the presentation and analysis of data, as recorded for at least a decade, and using the Greek economy as a case study, the authors examine the changes in social and human capital, increasingly risk-averse behavior, and changes in people’s general psyche and economic action in Greek society and economy.

Crisis in Greece

Peter Siani-Davies
Crisis in Greece Book PDF

Author : Peter Siani-Davies
Publisher : Oxford University Press
Page : 457 pages
File Size : 54,7 Mb
Release : 2017
Category : Business & Economics
ISBN : 9780190456726

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Crisis in Greece by Peter Siani-Davies Pdf

Few countries experienced the period of turbulence surrounding the global financial crisis as intensely as Greece. The country topped the global news agenda as images of mass protests in Athens jostled for space with reports of torturous negotiations between political leaders struggling to agree support packages. Dramatic headlines proclaimed not only Greek bankruptcy and a possible exit from the euro, but the collapse of the single currency itself. This book offers a comprehensive and authoritative account of the lengthy crisis that beset Greece and the wider Eurozone. Written for the general reader, it explores the passage of events from different perspectives as it probes the story behind the headlines to reveal the full complexity of the crisis. Were its causes to be found in the prevailing international financial environment or in the economic and political system which evolved in Greece since the early 1970s? Did the choices made by both domestic and international actors such as the IMF and the EU exacerbate the crisis? Most importantly, what has been the impact of the crisis on the daily lives of the country's inhabitants? --

The Financial Crisis and its Impacts on Greece

Richards Macdonald
The Financial Crisis and its Impacts on Greece Book PDF

Author : Richards Macdonald
Publisher : GRIN Verlag
Page : 37 pages
File Size : 50,5 Mb
Release : 2013-04-22
Category : Business & Economics
ISBN : 9783656416319

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The Financial Crisis and its Impacts on Greece by Richards Macdonald Pdf

Bachelor Thesis from the year 2012 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: A, The University of Chicago, language: English, abstract: In 2008, the world witnessed economic turndown of the most dangerous nature since the Great Depression of the 1930s. It all began in 2007 when high home prices in the United States turned downward that spread quickly to the entire US financial sector and then to financial markets globally. The overall casualty in the United States included the biggest insurance company, the entire investment banking industry, the largest mortgage lender, two of the largest commercial banks and the largest savings and loan. The impact of downfall in the United States had a huge impact globally and specifically the European countries. The worst hit country by financial turn down was Greece (Salas et al, 2010). Greece even before joining the Euro was living beyond its means. After adopting single currency, public spending soared. Between 1999 and 2007, public wages increased by 50%, faster than most of the countries in Eurozone. The government also hosted 2004 Athens Olympics and piled up debt. The debt in Greece kept soaring till the point where the country was no longer able to repay its debts. Greece was forced to ask for help from the IMF and European parts in the form of massive loans (Shiller, 2008). This research analyzes the global financial crisis and its impacts on Greece. It analyzes the austerity measures taken up by Greece and its impacts on the country. The research analyzes the bail outs that were granted to Greece to save the country from defaulting. IMF, World Bank and European Central Bank helped Greece by providing loans along with strict austerity measures by the economy of Greece had continuously shrank and the situation is not getting any better. The aims and objectives of the research include: • Analyzing the current financial crisis in Greece • Analyzing if there is any opportunity present in Greece for economic revival • Proposing a plan for revival of Greece’s economy For analyzing the financial situation of Greece, secondary data was used for extensive and in-depth analysis. The secondary research data sources included books, case studies, articles and literature review. With this methodology, the research investigated and analyzed the weaknesses and strengths of steps that were taken in Greece in order to counter the financial crisis. The analysis revealed that it was the poor taxation policies and economic structure that contributed to the worsening financial situation of Greece.

Laid Low

Paul Blustein
Laid Low Book PDF

Author : Paul Blustein
Publisher : McGill-Queen's Press - MQUP
Page : 504 pages
File Size : 47,5 Mb
Release : 2016-10-17
Category : Political Science
ISBN : 9781928096269

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Laid Low by Paul Blustein Pdf

The latest book by journalist and author Paul Blustein to go behind the scenes at the highest levels of global economic policy making, Laid Low chronicles the International Monetary Fund’s role in the euro-zone crisis. Based on interviews with a wide range of participants and scrutiny of thousands of documents, the book tells how the IMF joined in bailouts that all too often piled debt atop debt and imposed excessively harsh conditions on crisis-stricken countries. As the author shows, IMF officials had grave misgivings about a number of these rescues, but went along at the insistence of powerful European policy makers — to the detriment of the Fund’s credibility, with disheartening implications for the management of future crises. The narrative ends with a tale of the clash between Greece’s radical Syriza government and the country’s creditor institutions that reached a dramatic climax in the summer of 2015.

Understanding the Crisis in Greece

M. Mitsopoulos,Theodore Pelagidis
Understanding the Crisis in Greece Book PDF

Author : M. Mitsopoulos,Theodore Pelagidis
Publisher : Springer
Page : 278 pages
File Size : 41,8 Mb
Release : 2011-01-19
Category : Political Science
ISBN : 9780230294752

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Understanding the Crisis in Greece by M. Mitsopoulos,Theodore Pelagidis Pdf

As the tensions in the Greek economy take centre stage in the international headlines, this book examines the failed policies and political corruption that have bankrupted the nation. The authors comment on recent bailouts and haircuts and explore the uncertain future of Greece in the Eurozone.

Political Economy Perspectives on the Greek Crisis

Ioannis Bournakis,Christopher Tsoukis,Dimitris K. Christopoulos,Theodore Palivos
Political Economy Perspectives on the Greek Crisis Book PDF

Author : Ioannis Bournakis,Christopher Tsoukis,Dimitris K. Christopoulos,Theodore Palivos
Publisher : Springer
Page : 388 pages
File Size : 48,8 Mb
Release : 2017-11-27
Category : Business & Economics
ISBN : 9783319637068

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Political Economy Perspectives on the Greek Crisis by Ioannis Bournakis,Christopher Tsoukis,Dimitris K. Christopoulos,Theodore Palivos Pdf

This book offers a comprehensive guide to the on-going Greek debt crisis. It identifies and explains Greece’s idiosyncratic weaknesses, and highlights the existing rigidities in the EU architecture that make the recovery prospects of the Greek economy challenging. Chapters from expert contributors highlight aspects of the performance of the Greek economy with focus on export performance, labour market conditions, political cycles and regional income disparities. The book then goes on to outline the banking system in Greece in the post-crisis era, and includes analysis that explains how the credit rating score affected Greece’s borrowing capacity prior to the start of the insolvency crisis. The final part analyses and compares alternative scenarios of fiscal consolidation, seeking to identify whether there are alternatives to fiscal austerity and the impact of each one of them. This section also clarifies various misconceptions about the significant determinants of international competitiveness. Despite the focus of the book, the lessons drawn from the chapters are not limited to Greece. This volume will be of interest to academics, practitioners and policy makers who wish to take a closer look at the Greek debt crisis and learn more about the challenges the Greek economy is currently facing.

The Greek Crisis in the Media

George Tzogopoulos
The Greek Crisis in the Media Book PDF

Author : George Tzogopoulos
Publisher : Routledge
Page : 222 pages
File Size : 41,6 Mb
Release : 2016-03-09
Category : Political Science
ISBN : 9781317029809

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The Greek Crisis in the Media by George Tzogopoulos Pdf

The portrayal of Greece by the international press during the financial crisis has been seen by many independent observers as very harsh. The Greeks have often been blamed for a myriad of international political problems and external economic factors beyond their control. In this original and insightful work George Tzogopoulos examines international newspaper coverage of the unfolding economic crisis in Greece. American, British, French, German and Italian broadsheet and tabloid coverage is carefully analysed. The Greek Crisis in the Media debates and dissects the extent to which the Greek response to the financial crisis has been given fair and balanced coverage by the press and questions how far politics and national stereotypes have played their part in the reporting of events. By placing the Greek experiences and treatment alongside those of other EU members such as Portugal, Ireland, Italy and Spain, Tzogopoulos examines and highlights similarities and differences in the ways in which different countries tackled the challenges they faced during this crucial period and explores how and why the world's media reported these events.