European Debt Crisis

The Greek Case

Inbunden, Engelska, 2014

AvCostas Simitis

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In this book, former Greek Prime Minister Costas Simitis examines the European debt crisis with particular reference to the case of Greece. Greece was the first Eurozone country to face an enormous deficit, which reached 15% of GDP in 2009. As the Greek crisis unfolded, other Eurozone countries displayed identical symptoms, albeit in varying degrees of severity. From a strictly Greek predicament the debt crisis quickly turned into a problem for the European Union as a whole. This first English language translation investigates the causes of this spillover and chronicles the policy responses to combat it. It also discusses Greece’s troubled political economy, the country’s difficulties in adjusting to the demands of its creditors and the vehement social and political reactions to the policy of austerity.Through his comprehensive and authoritative analysis, Simitis provides valuable insights into the crucial interconnection between Greece’s own economic troubles and the wider European search for macroeconomic stability and sustainable economic growth. As such, the book appeals well beyond those with a narrow academic interest in Greece. This is very much a discussion about the future of the Eurozone and the European Union as a whole.

Produktinformation

Utgivningsdatum2014-04-30
Mått156 x 234 x 21 mm
Vikt689 g
FormatInbunden
SpråkEngelska
SerieEuropean Politics
Antal sidor366
FörlagManchester University Press
ISBN9780719095795

Tillhör följande kategorier

Finanskriser inom Ekonomi och ledarskap
Politik och statsskick inom Samhalle och politik
Ekonomisk politik inom Ekonomi och ledarskap

PrefacePart I: How we arrived at this first Memorandum1. Was Greece ready for the Euro?2. New Democracy’s criminal indifference3. PASOK’s opportunistic optimism4. Being in denial5. Ineffective solutions6. The bitter truth7. The first Memorandum: a medicine with dangerous side effectsPart II: The Memorandum’s first year of implementation8. The crisis spreads to the Union9. Implementing the Memorandum: an obstacle race10. ‘An all encompassing plan’ to solve the crisis in the Eurozone?11. ‘An all encompassing plan’ to solve the crisis in Greece?12. A year of the Memorandum: seeking a new solutionPart III: Debt restructuring and power games13. Debt restructuring: The decisions of 21st July14. A dead end15. More hitches16. The new solution17. Political games with unpredictable consequencesPart IV: Coalition government, psi, second Memorandum18. A flicker of hope19. Conflicts at the highest European level20. The new agreement with the Eurozone (Memorandum II), the PSI21. An evaluation of the Memorandum(s)22. Austerity and growth: implementing the decisions of 21st February 201223. The crisis peaksPart V: Elections May–June 201224. Elections of 6th May: Euro or drachma?25. Cracks in the Euro26. The Union at a dead end: change of course on 29th June27. The elections of 17th June: a new beginning?28. Provisional solutions. October 2012–June 201329. The evaluations of the assistance programme to Greece30. CyprusPart VI: The future of Greece and the European Union31. The causes of the crisis are not only economic32. A new European policy is necessaryA. Economic governanceB. Inclusion and participationAppendix: Key meetings and decisions of the institutions of the European Union relating to the financial crisisNote. The main Greek political partiesFigure 1: Net borrowing of Greek government and economy (% of GDP)Figure 2: Greece. Primary expenditure, expenditure, revenue 1988–2014AbbreviationsIndex

'Costas Simitis has been one of the most pro-European political leaders in Greece. In this book he charts the dramatic story of the Greek crisis. This is a lesson for Europe, particularly to those who want economic growth based on solidarity and employment. This is an important book for all progressive forces within the European Union.' Massimo D’ Alema, former Prime Minister of Italy'A must-read book for everybody who is interested in the Euro-crisis and the how to overcome it.'Guy Verhofstadt, MEP, former Prime Minister of Belgium