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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. Centre for Economic Performance, London School of Economics and Political Science, London, UK.

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Abstract

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 (Other)
Official URL: http://cep.lse.ac.uk/
Additional Information: © 2012 The Authors
Library of Congress subject classification: H Social Sciences > HC Economic History and Conditions
Journal of Economic Literature Classification System: 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
Sets: Departments > Economics
Collections > Economists Online
Research centres and groups > Centre for Economic Performance (CEP)
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Identification Number: CEPSP25
Date Deposited: 23 Nov 2012 14:14
URL: http://eprints.lse.ac.uk/47523/

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