Category Archives: Banking and finance

What is the best option for Greece? Stay the course? Declare bankruptcy? Leave the Euro?

Posted on February 19, 2012 by N_Economides

Nicholas Economides evaluates the options available to Greece: (A) accept the new agreeement with the lenders, receive €130 billion, and implement the PSI; (B) declare bankruptcy within the eurozone; and (C) decrare bankruptcy and leave the eurozone. He argues that option … Continue reading →

Posted in Banking and finance, Economic development, Europe, Macroeconomics, Public finance | Leave a comment

Nicholas Economides interviewed on Bloomberg on the downgrade of Eurozone countries by S&P

Posted on February 18, 2012 by N_Economides

S&P downgrades EU countries, Bloomberg TV interview January 13, 2012. In this interview, Nicholas Economides discusses the mass downgrade of EU countries by S&P. Although the countries’ downgrade was expected, the effect of the downgrade on the EFSF remains to … Continue reading →

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Lets take the deal and reform: we can only gain from this

Posted on February 13, 2012 by D_Vayanos

In two articles published in Kathimerini on 12 February 2012, (a) Costas Meghir and (b) Michael Haliassos, Yannis Ioannides and Dimitri Vayanos argue that the incentives for the Eurozone to bail out Greece are waning as Italy is being shored … Continue reading →

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The PSI’s enigma—and a possible solution

Posted on January 18, 2012 by A_Koutras

The Greek government is currently preoccupied with solving the PSI (Private Sector Involvement) enigma. Bringing the PSI to fruition is a precondition for receiving the next tranche of bailout funds from the EU, which is necessary to pay the bond maturing … Continue reading →

Posted in Banking and finance, Europe, Public finance | 3 Comments

Greek Economists for Reform comment on Greece’s priorities for 2012

Posted on January 1, 2012 by The Reforming Economist

For its New Year’s edition, Kathimerini newspaper asked Greek Economists for Reform to propose specific actions that Greece should take in 2012 to improve its economy. Costas Azariadis and Yannis Ioannides urged Greeks to become more involved in civic society, … Continue reading →

Posted in Banking and finance, Europe, Justice, Labour market, Macroeconomics, Press, Public finance, Public sector productivity | 1 Comment

Prodigal Italy, Greece, Spain? A Letter to Northern Partners

Posted on December 28, 2011 by M_Haliassos

Michael Haliassos presents a key dilemma in the current debate regarding the future of the Euro: to prolong support of debt refinancing to countries in the periphery, so as to signal to markets that Euro membership is a one-way street; … Continue reading →

Posted in Banking and finance, Europe, General, Labour market, Macroeconomics, Press, Public finance, Public sector productivity | 1 Comment

Euro versus Drachma: A Televised Debate

Posted on December 15, 2011 by M_Haliassos

On December 12, 2011, the Greek TV station ‘SKAI’ broadcast a debate between seven Greek economists on whether Greece should stay with the Euro or switch to a new Drachma. The debate was aired a second time on December 15. … Continue reading →

Posted in Banking and finance, Economic development, Europe, General, Macroeconomics, Product market, Public finance | 5 Comments

The recapitalization of Greek banks

Posted on December 3, 2011 by D_Vayanos

Because of the impending haircut on Greek government bonds, and of the large fraction of non-performing loans, Greek banks are likely to be insolvent on aggregate. Calls for increased state ownership of the banking system as a long-run solution to … Continue reading →

Posted in Banking and finance | 1 Comment

To Euro!

Posted on November 21, 2011 by C_Pissarides

The article below, written by Yannis Ioannides and Chris Pissarides, is part of the ongoing discussion on this blog about the costs and benefits for Greece to continue being part of the Eurozone. The authors argue that Greece has a … Continue reading →

Posted in Banking and finance, Europe, Macroeconomics, Public finance | 10 Comments

Feature: Greece and the Euro

Posted on November 5, 2011 by The Reforming Economist

The dramatic events of the past week have brought again into question Greece’s participation in the Eurozone. Will Greece manage to stay in the Eurozone or will it have to exit? Should Greece seek to exit? More generally, what are … Continue reading →

Posted in Banking and finance, Europe, General, Macroeconomics | 2 Comments