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To default or not to default? That is NOT the question!

Monastiriotis, Vassilis (2011) To default or not to default? That is NOT the question! LSE Greece@LSE (27 Jun 2011). Blog Entry.

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This blog opens at a time when Greece is (again) at a remarkable conjunction. On Wednesday 29/6 we will know whether the (too many times) revised Medium-Term Programme was approved by parliament, opening the road for the release of the 5th instalment of the May 2010 loan and for the substantive discussions to begin about the so-called ‘second bailout’ of 2012. We can discuss of course what were the problems of the Greek economy, society and polity, of international financial regulation and of the EMU institutional structure and political dynamics, that brought us here – indeed, this is largely what this blog aims to contribute to. But whereas this debate is open –and indeed should remain open for a long time, until the full dimensions of the “Greek tragedy” are deeply understood and convincingly communicated to the non-experts– the fact of the matter is that, whatever the causes, whatever the wrong-doings and the mis-firings, Greece is today deep into an insolvency crisis, experiencing a prolonged recession and one of the most severe austerity programmes seen in modern history.

Item Type: Online resource (Blog Entry)
Official URL:
Additional Information: © 2011 The Author(s); Online
Divisions: European Institute
Spatial Economics Research Centre
Hellenic Observatory
LSEE - Research on South Eastern Europe
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HG Finance
J Political Science > JC Political theory
J Political Science > JN Political institutions (Europe)
Sets: Departments > European Institute
Research centres and groups > Spatial Economics Research Centre
Research centres and groups > Hellenic Observatory
Research centres and groups > LSEE Research on South Eastern Europe
Collections > Greece@LSE Blog
Date Deposited: 01 Jun 2017 09:56
Last Modified: 01 Mar 2019 00:11

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