Last week, Eurogroup finance ministers in their wisdom decided that there would be no debt relief or restructuring for Greece until the end of the summer. Evidently they wish to avoid exciting voters in the European Parliament elections in May.
Debt-for-equity swaps offer Greece a better way
Peter Allen, Barry Eichengreen, Gary Evans, 28 February 2014
Massacre memories: German car sales and the EZ Crisis in Greece
Vasiliki Fouka, Hans-Joachim Voth, 23 October 2013
When Angela Merkel visited Athens earlier this year, local protesters upset about austerity measures and alleged German dominance depicted her on placards wearing a Nazi uniform. Cypriots demonstrating against the terms of their country's bailout showed the stars of the EU surrounding a swastika.
Messing up the next Greek debt relief could endanger the Eurozone
Charles Wyplosz, 23 September 2013
The situation in Greece is so disastrous that some form of debt relief is likely. The timing is right as Germany’s electoral ‘purdah’ period has ended.
The logic and fairness of Greece’s programme
Olivier Blanchard, 23 March 2012
To get back to health, Greece needs two things. First, a lower debt burden. Second, improved economic competitiveness. The new programme addresses both.
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