Massive public service reform for its dysfunctional state and a Euro exit and devaluation are the only way for Greece to break its current ‘doom loop’

Wade, Robert Hunter (2012) Massive public service reform for its dysfunctional state and a Euro exit and devaluation are the only way for Greece to break its current ‘doom loop’. LSE European Politics and Policy (EUROPP) Blog (11 Jul 2012). Website.

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Abstract

Many of Greece’s problems are down to the dysfunctionality of its government. Robert Wade outlines just how dysfunctional the Greek state is, finding that 15 ministries and 48 ministers supervise some 2,500 entities, with few centralised information systems and a lengthy bureaucracy for appointments. However, the government’s recent reform efforts have exacerbated the country’s ‘doom loop’, with sharp falls in revenues as taxpayers refuse or are unable to pay. The only way out is for more Greek debt write-downs, and for the country to exit the Euro and devalue its currency.

Item Type:	Online resource (Website)
Official URL:	http://blogs.lse.ac.uk/europpblog/
Additional Information:	© 2012 The Author
Divisions:	International Development
Subjects:	D History General and Old World > DF Greece H Social Sciences > HC Economic History and Conditions J Political Science > JN Political institutions (Europe)
JEL classification:	F - International Economics > F3 - International Finance > F33 - International Monetary Arrangements and Institutions G - Financial Economics > G1 - General Financial Markets > G18 - Government Policy and Regulation
Date Deposited:	19 Sep 2012 11:24
Last Modified:	13 Sep 2024 18:09
URI:	http://eprints.lse.ac.uk/id/eprint/46123

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