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The Greek crisis is merely a symptom of the EU’s inability to deal with recessions

Gangopadhyay, Partha (2015) The Greek crisis is merely a symptom of the EU’s inability to deal with recessions. LSE European Politics and Policy (EUROPP) Blog (24 Aug 2015). Website.

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Fresh elections will be held in Greece following the resignation of Alexis Tsipras as the country’s Prime Minister. Partha Gangopadhyay writes that while this latest twist in Greek domestic politics has raised more uncertainty about Greece’s ability to meet the conditions of its bailout agreement, there is a far wider structural problem with the Eurozone that cannot be addressed via bailouts or cosmetic changes. He argues that with states tied to a shared monetary policy, and with the EU possessing only a small budget for promoting convergence among its members, the EU simply lacks the fiscal capacity to deal with large economic shocks.

Item Type: Online resource (Website)
Official URL:
Additional Information: © 2015 The Author(s); Online
Divisions: LSE
Subjects: H Social Sciences > HB Economic Theory
J Political Science > JN Political institutions (Europe)
Date Deposited: 28 Mar 2017 08:53
Last Modified: 07 Jul 2020 23:12

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