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The political economy of the Greek debt crisis: a tale of two bailouts

Ardagna, Silvia and Caselli, Francesco (2012) The political economy of the Greek debt crisis: a tale of two bailouts. Centre for Economic Performance special papers (CEPSP25). London School of Economics and Political Science. Centre for Economic Performance, London, UK.

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We review the events that led to the May 2010 and July 2011 bailout agreements. We interpret the bailouts as outcomes of political-economy equilibria. We argue that the second bailout was not on the Pareto frontier and sketch political-economy arguments for why this may be so.

Item Type: Monograph (Report)
Official URL:
Additional Information: © 2012 The Authors
Divisions: Economics
Centre for Economic Performance
Subjects: H Social Sciences > HC Economic History and Conditions
JEL classification: E - Macroeconomics and Monetary Economics > E0 - General
F - International Economics > F4 - Macroeconomic Aspects of International Trade and Finance
F - International Economics > F5 - International Relations and International Political Economy
Date Deposited: 23 Nov 2012 14:14
Last Modified: 16 May 2024 13:21

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