The Greek crisis and financial assistance programmes: An evaluation

Arghyrou, Michael Georgiou ORCID: https://orcid.org/0000-0001-6222-5086 2015. The Greek crisis and financial assistance programmes: An evaluation. [Project Report]. CESifo Working Paper No. 5591, Centre for Economic Studies and Ifo Institute. Available at: http://www.cesifo-group.de/DocDL/cesifo1_wp5591.pd...

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Abstract

We analyse the background of the Greek debt crisis and evaluate the three Greek financial assistance programme. The crisis and the first programme’s (2010-11) failure were mainly the result of misguided internal policies. The second programme (2012-14) achieved progress towards recovery but this was fragile and was cancelled out by Greece’s stand-off with her lenders in the first half of 2015. The stand-off was one that predictably Greece could not win, due to the lack of a credible growth plan; and the adoption of a transparently non-credible ultimatum-game strategy. These explain the signing of the third programme in August 2015.

Item Type:	Monograph (Project Report)
Date Type:	Publication
Status:	Published
Schools:	Business (Including Economics)
Subjects:	D History General and Old World > DF Greece H Social Sciences > HJ Public Finance
Uncontrolled Keywords:	Greece, euro, crisis, financial assistance programmes
Publisher:	Centre for Economic Studies and Ifo Institute
Date of First Compliant Deposit:	30 March 2016
Date of Acceptance:	2015
Last Modified:	31 Oct 2022 09:22
URI:	https://orca.cardiff.ac.uk/id/eprint/80766

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