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Greece’s sovereign debt crisis: retrospect and prospect

Alogoskoufis, George (2012) Greece’s sovereign debt crisis: retrospect and prospect. GreeSE papers, 54. London School of Economics and Political Science, Hellenic Observatory, London, UK.

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Abstract

This paper provides an analysis and assessment of the Greek sovereign debt crisis, and examines alternative solutions to the problem. In order to put the current fiscal predicament of Greece in perspective and discuss how the Greek debt crisis might possibly be resolved, the paper first provides a detailed account of how the sovereign debt of Greece was accumulated and then stabilized relative to GDP. It then proceeds with an account of how the international financial crisis led to a destabilization of Greece’s sovereign debt, and with an assessment of the adjustment program currently in operation. We address the question of solvency, and whether the current program is sufficient for the resolution of Greece’s debt crisis. The paper concludes with proposals for tackling the confidence crisis and speeding up the recovery of the Greek economy.

Item Type: Monograph (Working Paper)
Official URL: http://www2.lse.ac.uk/europeanInstitute/research/h...
Additional Information: © 2011 The author
Library of Congress subject classification: H Social Sciences > HJ Public Finance
Sets: Research centres and groups > Hellenic Observatory
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Identification Number: 54
Date Deposited: 28 Mar 2012 12:52
URL: http://eprints.lse.ac.uk/42848/

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