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Founding members
Costas AzariadisWashington University at St. LouisHarris DellasUniversity of BernNicholas EconomidesNew York UniversityJohn GeanakoplosYale UniversityMichael Haliassos (Editor)Goethe University FrankfurtYannis Ioannides (Editor)Tufts UniversityCostas MeghirYale University and University College LondonChris PissaridesLondon School of EconomicsThanasis Stengos (Editor)University of GuelphDimitri VayanosLondon School of EconomicsNikos VettasAthens University of Economics and BusinessOther Contributors
Michael ArghyrouUniversity of Cardiff
Nikolaos ArtavanisVirginia Tech
Manthos DelisCity University
Jacques DelplaConseil d’Analyse Economique, Paris
Manolis GalenianosRoyal Holloway, University of London
Nikos GeorgantzisJaume I University and University of Granada
Gikas HardouvelisUniversity of Piraeus
Dimitris HatzinikolaouUniversity of Ioannina
Chrysafis IordanoglouPanteion University
Pantelis KammasUniversity of Ioannina
Loukas KarabarbounisUniversity of Chicago
Yannis KatsoulakosAthens University of Economics and Business
Alexandros KontonikasUniversity of Glasgow
Christos KotsogiannisUniversity of Exeter
Andreas KoutrasIn Touch Capital Markets
Miltiadis MakrisUniversity of Southampton
Spyros PagratisAthens University of Economics and Business
Elias PapaioannouDartmouth College
Manolis PetrakisUniversity of Crete
Vasiliki SkretaNew York University
Margarita TsoutsouraUniversity of Chicago
Category Archives: Banking and finance
Warrants and the subsidy to private investors–a summary
The recapitalization of Greek banks has recently been completed. Three out of the four large banks (Alpha Bank, National Bank of Greece, Piraeus Bank) managed to raise private capital exceeding 10% of their assessed capital needs. According to the rules … Continue reading
Posted in Banking and finance
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Warrant(ed) subsidy?
At a recent New York Times article, it was argued that the value of free warrants offered to participating shareholders in the capital increases of the big three Greek banks constitutes a large wealth transfer from the Greek state to … Continue reading
Posted in Banking and finance
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Beware the Warrants
Current provisions for a too-early exit of the Hellenic Financial Stability Fund from Greek banks risk creating self-reinforcing market dislocations. By offering too many free warrants to private investors, at predetermined exercise prices, share prices of Greek banks could be … Continue reading
Posted in Banking and finance
2 Comments
Panel discussion on “GREXITING the economic crisis”
On March 6, 2013, a panel discussion on the Greek economic crisis took place at the London School of Economics. This was part of a broader set of events taking place during the week of March 4-8, as part of … Continue reading
Debt write-off as a mechanism to incentivize structural reforms
Greece’s public debt is projected to rise to 189% of GDP in 2013. This debt level is unsustainable and a write-off will be needed. Some among Greece’s foreign partners are concerned that a write-off will ease the pressure on Greek … Continue reading
Posted in Banking and finance, Europe, Macroeconomics, Public finance
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Restructuring, roll-over, moratorium
In the next few weeks the ECB/EU/IMF Troika will deliver its report on the implementation progress and compliance of Greece. On the basis of this report the EU and the IMF will decide whether to release the jumbo instalment of … Continue reading
Posted in Banking and finance, Europe, Macroeconomics, Public finance
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Germany must lead or pull the plug: Greek Economists for Reform interviewed in Die Welt
German newspaper Die Welt interviewed three founding members of Greek Economists for Reform in its issue of June 28, 2012, coinciding with the important European Summit. The newspaper noted that numerous economists around the world express views on Greece and … Continue reading
Danger signs for Greece
In an interview with the National Herald (New York), Nicholas Economides underlines the danger of a national disaster of the extent of the Asia Minor Disaster and the Civil War if Greece leaves the Euro. Among other terrible results are … Continue reading
Posted in Banking and finance, Europe, Public finance
Tagged banking, drachma, economics, Finance, Greece, inflation
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The Greek crisis and the road ahead
Eleven prominent Greek academic economists, eight of whom are founding members of this blog, write about the Greek crisis. They argue that although the crisis has an important European dimension, its root causes lie in Greece and especially in the … Continue reading
Decision time
Greece is facing a historic crossroads, where every decision will have profound long-term consequences for everyone. For this reason, heading towards the most critical elections, we must all decide, individually at first and then collectively through democratic processes, our stance … Continue reading
Posted in Banking and finance, Europe, Macroeconomics, Public finance
6 Comments