Greece

The Greek banking system: a tragedy in the making?

ECB collateral damages on Greece

The European Central Bank’s Governing Council lifted the waiver of minimum credit rating requirements for greek government bonds which, until yesterda

A major step towards a Greek compromise

Following a week of fright after the Greek elections, during which various statements by the new Greek government have raised the spectre of Grexit, F

Who’s (still) exposed to Greece?

Following the recent elections, Greece has come under pressure. Fear is growing about the stance of the newly elected government and there have been s

Can Greece become competitive overnight?

In a controversial piece recently published by the Peterson Institute for International Economics (PIIE), Anders Aslund illustrates how the problem wi

Greece and the euro area need a deal within days, not months

International press informs us that the Greek government believes it has weeks or perhaps months to negotiate a new deal with its creditors. The basic

Retaking the Greek Test

For about five years now, Greece has been giving the euro area authorities a test in economics and politics. The test must be retaken until the author

Greek choices after the elections

In the days ahead of the Greek snap elections on 25 January 2015 a huge range of opinions has appeared on what Greece and its lenders should do. One c

The ECB’s bond-purchase dilemma

German opposition to government-bond purchases by the European Central Bank is solidifying ahead of the programme’s likely announcement on January 22.

Why a Grexit is more costly for Germany than a default inside the euro area

Direct losses for Germany would be much larger if Greece was to exit the euro.

How to reduce the Greek debt burden?

Since Greece achieved a primary surplus of 2.7 percent of GDP in 2014 (which is expected to increase further in 2015), and there are uncertainties rel

Why Grexit would not help Greece

The genie is out of the bottle: Europe is again discussing the possibility of Greece leaving the euro. With it, the debate has re-emerged whether this

Greece to the Eurozone’s Rescue

With Greece, the mistakes were legion. But a fresh start is now possible. Forgive the troika’s Greek debt. With a primary surplus—fiscal revenues abov

The Greek debt trap: missing the wrong target

The Greek debt trap: an escape plan

Without corrective measures, Greek public debt will exceed 190 percent of GDP, instead of peaking at the anyway too-high target ratio of 167 percent o