Category Archives: Europe

Europe will benefit from Greece being given a fresh start

On January 22, 2015, the Financial Times have published a letter signed by eighteen economists, including Nobel Laureates Joseph Stiglitz and Chris Pissarides (GEfR founding member). The letter argues that Europe will benefit from Greece being given a fresh start. … Continue reading

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Grexit is now less dangerous for the Eurozone

In a full-page interview in the Greek newspaper “Kathimerini” on Sunday, January 11, 2015, Michael Haliassos describes where the Greek adjustment program of the past five years has gone wrong, and why Greece has no room for creating further uncertainties … Continue reading

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Challenges for the New Greek Government

Article of Costas Meghir (Douglas A. Warner III Professor of Economics, Yale University)   in Greek.

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How To Solve The Greek Public Debt Problem

How To Solve The Greek Public Debt Problem In an article in ESTIA, Prof. Nicholas Economides discusses how issuing new bonds and using the moneys exclusively for investment will solve the Greek sovereign debt problem. Additionally he proposes reducing interest … Continue reading

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Looking Beyond the Greek Crisis

Transcript of presentation delivered at the conference Growth and Employment in Europe Session. Panel I By Yannis M. Ioannides Megaron, Athens, May 12, 2014 Organized by Lucas Papademos Slides Introduction I want to start by comparing the evolution of Greek … Continue reading

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The Greek Crisis: Origins and Implications

This paper argues that the deep causes of the Greek and Eurozone crisis are the large external imbalances (trade deficits) of the countries of the European periphery. Their fiscal imbalances exacerbated but did not cause the crisis and therefore fiscal … Continue reading

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Greece should issue new bonds before the European elections

In an article published in Kathimerini, on February 9, Prof. Nicholas Economides proposes that Greece issue new 5-year bonds immediately, that is, before the European elections. This would be the first time Greece would issue bonds since its crisis in … Continue reading

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A debate between German and Greek economists on growth and austerity in Greece

On 10 July 2013, an interesting debate on the Greek crisis took place between Daniel Gros, the director of the Brussels-based research institute CEPS, Gikas Hardouvelis, professor of Finance at the University of Piraeus and Chief economist at Eurobank, and … Continue reading

Posted in Banking and finance, Economic development, Europe, Labour market, Product market, Public finance, Public sector productivity | 1 Comment

Salary Cuts and Competitiveness

Promotion of competitiveness in the international market for goods and services, especially for fiscally troubled countries, is both an objective of European Union policies and a prerequisite for the longer-run viability and repayment of public debt. Massive horizontal salary cuts … Continue reading

Posted in Economic development, Economic research, Europe, Labour market, Macroeconomics, Public sector productivity | 1 Comment

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

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