Bust

Bust PDF Author: Matthew Lynn
Publisher: John Wiley & Sons
ISBN: 1119990688
Category : Business & Economics
Languages : en
Pages : 290

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Book Description
Athens, Greece—May Day 2010. The International Monetary Fund (IMF) and the European Union (EU) were putting together the final details of a $100 billion euro rescue package for the country. The Greek Prime Minister, George Papandreou, had agreed to a savage package of “austerity measures” involving cuts in public spending and lower salaries and pensions. Outside, riot police were deployed as protestors gathered to fight the austerity program. A country with a history of revolution and dictatorship hovered on the brink of collapse—with the world’s financial markets watching to see if the deal cobbled together would be enough to both calm the markets and rescue the Greek economy, and with it the euro, from oblivion. In Bust: Greece, the Euro, and the Sovereign Debt Crisis, leading market commentator Matthew Lynn blends financial history, politics, and current affairs to tell the story of how one nation rode the wave of economic prosperity and brought a continent, a currency, and, potentially, the global financial system to its knees. Bust is a story of government deceit, unfettered spending, and cheap borrowing: a tale of financial folly to rank alongside the greatest in history. It charts Greece’s rise, and spectacular fall from grace, but it also explores the global repercussions of a financial disaster that has only just begun. It explains how the Greek debt crisis spread like wildfire through the rest of Europe, hitting Ireland, Portugal, Italy, and Spain, and ultimately provoking a crisis that brought the euro to the edge of collapse. And it argues that the Greek crisis is just the start of a decade of financial turmoil that will eventually force the break up of the euro, and a massive retrenchment in the living standards of all the developed economies. Written in a lively and entertaining style, Bust: Greece, the Euro, and the Sovereign Debt Crisis is an engaging and informative account of a country gone wrong and a must-read for anyone interested in world events and global economics.

Bust

Bust PDF Author: Matthew Lynn
Publisher: John Wiley & Sons
ISBN: 1119990688
Category : Business & Economics
Languages : en
Pages : 290

Get Book Here

Book Description
Athens, Greece—May Day 2010. The International Monetary Fund (IMF) and the European Union (EU) were putting together the final details of a $100 billion euro rescue package for the country. The Greek Prime Minister, George Papandreou, had agreed to a savage package of “austerity measures” involving cuts in public spending and lower salaries and pensions. Outside, riot police were deployed as protestors gathered to fight the austerity program. A country with a history of revolution and dictatorship hovered on the brink of collapse—with the world’s financial markets watching to see if the deal cobbled together would be enough to both calm the markets and rescue the Greek economy, and with it the euro, from oblivion. In Bust: Greece, the Euro, and the Sovereign Debt Crisis, leading market commentator Matthew Lynn blends financial history, politics, and current affairs to tell the story of how one nation rode the wave of economic prosperity and brought a continent, a currency, and, potentially, the global financial system to its knees. Bust is a story of government deceit, unfettered spending, and cheap borrowing: a tale of financial folly to rank alongside the greatest in history. It charts Greece’s rise, and spectacular fall from grace, but it also explores the global repercussions of a financial disaster that has only just begun. It explains how the Greek debt crisis spread like wildfire through the rest of Europe, hitting Ireland, Portugal, Italy, and Spain, and ultimately provoking a crisis that brought the euro to the edge of collapse. And it argues that the Greek crisis is just the start of a decade of financial turmoil that will eventually force the break up of the euro, and a massive retrenchment in the living standards of all the developed economies. Written in a lively and entertaining style, Bust: Greece, the Euro, and the Sovereign Debt Crisis is an engaging and informative account of a country gone wrong and a must-read for anyone interested in world events and global economics.

Crisis in Greece

Crisis in Greece PDF Author: Peter Siani-Davies
Publisher: Oxford University Press
ISBN: 0190456728
Category : Business & Economics
Languages : en
Pages : 457

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Book Description
Few countries experienced the period of turbulence surrounding the global financial crisis as intensely as Greece. The country topped the global news agenda as images of mass protests in Athens jostled for space with reports of torturous negotiations between political leaders struggling to agree support packages. Dramatic headlines proclaimed not only Greek bankruptcy and a possible exit from the euro, but the collapse of the single currency itself. This book offers a comprehensive and authoritative account of the lengthy crisis that beset Greece and the wider Eurozone. Written for the general reader, it explores the passage of events from different perspectives as it probes the story behind the headlines to reveal the full complexity of the crisis. Were its causes to be found in the prevailing international financial environment or in the economic and political system which evolved in Greece since the early 1970s? Did the choices made by both domestic and international actors such as the IMF and the EU exacerbate the crisis? Most importantly, what has been the impact of the crisis on the daily lives of the country's inhabitants? --

Greece in Crisis

Greece in Crisis PDF Author: Ourania Hatzidaki
Publisher: John Benjamins Publishing Company
ISBN: 9027265682
Category : Language Arts & Disciplines
Languages : en
Pages : 481

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Book Description
Since its onset, the Greek crisis has given rise to an abundance of relevant text and talk. This volume offers an insider’s view of the discursive manifestations of the crisis, focusing on discourses in the Greek language and by Greek social actors. The contributions investigate the diverse ways in which the crisis has been communicated to the public by domestic policymakers or debated by elite, non-elite and resistant participants. Crisis discourses are also examined in the light of the rise of neo-nationalism and the extreme Right in both Greece and Cyprus. All contributions seek to meaningfully combine critical discourse and corpus linguistics perspectives for a better understanding of the Greek crisis as a socio-economic episode and as a discourse construct. Discourse-driven quantification and corpus-driven quantification complement each other in the critical examination of textual data as diverse as official government communications, party leader speeches, newspaper articles, public assembly resolutions, song lyrics, social media commentary and terrorist proclamations.

Beyond Debt

Beyond Debt PDF Author: Nikos Tsafos
Publisher: Createspace Independent Publishing Platform
ISBN: 9781479140763
Category : Financial crises
Languages : en
Pages : 0

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Book Description
How did Greece, with less than 3% of the population of the European Union, become the epicenter of Europe's "existential crisis?" Why did Greece opt for an obligation-laden bailout rather than default or leave the Eurozone, as many said it should? Could it have avoided the disappointments that followed, including needing a second bailout, holding repeat elections, and swearing in its fourth prime minister in a year? The conventional narrative answered these questions by viewing the Greek crisis as the result of a "flawed currency union." Many economists, moreover, thought Greece was foolish to seek a bailout rather than renege on its debts or leave the Eurozone. And as the crisis deepened, economists again blamed the international community for pushing "austerity" onto Greece. Beyond Debt offers a different account of this crisis. It sees it, first and foremost, as a Greek crisis, best understood through the lens of Greek history, politics and economics. The crisis was triggered by global events, but it was not caused by them. As the book shows, Greece's chosen path-a bailout-made infinitely more sense than either a default or the abandonment of the common currency that many economists called for. And while others see "austerity" as the problem for Greece's woes after the bailout, Beyond Debt blames instead an indecisive government that could not see reform through to the end.

Critical Times in Greece

Critical Times in Greece PDF Author: Dimitris Dalakoglou
Publisher: Routledge
ISBN: 1315299011
Category : Social Science
Languages : en
Pages : 293

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Book Description
This volume brings together new anthropological research on the Greek crisis. With a number of contributions from academics based in Greece, the book addresses a number of key issues such as the refugee crisis, far-right extremism and the psychological impact of increased poverty and unemployment. It provides much needed ethnographic contributions and critical anthropological perspectives at a key moment in Greece’s history, and will be of great interest to researchers interested in the social, political and economic developments in southern Europe. It is the first collection to explore the impact of this period of radical social change on anthropological understandings of Greece.

Clientelism and Economic Policy

Clientelism and Economic Policy PDF Author: Aris Trantidis
Publisher: Routledge
ISBN: 1317326601
Category : Political Science
Languages : en
Pages : 256

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Book Description
With its deep economic crisis and dramatic political developments Greece has puzzled Europe and the world. What explains its long-standing problems and its incapacity to reform its economy? Using an analytic narrative and a comparative approach, the book studies the pattern of economic reforms in Greece between 1985 and 2015. It finds that clientelism - the allocation of selective benefits by political actors (patrons) to their supporters (clients) - created a strong policy bias that prevented the country from implementing deep-cutting reforms. The book shows that the clientelist system differs from the general image of interest-group politics and that the typical view of clientelism, as individual exchange between patrons and clients, has not fully captured the wide range and implications of this phenomenon. From this, the author develops a theory on clientelism and policy-making, addressing key questions on the politics of economic reform, government autonomy and party politics. The book is an essential addition to the literatures on clientelism, public choice theory, and comparative political economy. It will be of key interest to scholars and students of European Union politics, economic policy and party politics.

Crisis, Reform and the Way Forward in Greece

Crisis, Reform and the Way Forward in Greece PDF Author: Calliope Spanou
Publisher: Routledge
ISBN: 0429514298
Category : Political Science
Languages : en
Pages : 202

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Book Description
This volume discusses different aspects of Greece’s political economy during the past decade and reflects on the country’s path ahead, examining the major question: did this challenging period succeed in providing a window of opportunity for deeper institutional and societal change? The authors seek to contribute to the discussion of the dynamics of stability and change, of the nexus between external pressure and domestic agency. Greece offers a most interesting case study, as much in analytical as in empirical terms. Never before did a euro area member require three macroeconomic adjustment programmes under stringent policy conditionality and external supervision. This experience shattered past certainties and reshaped the political landscape. A decade later Greece was starting to recover and received international recognition for its reform efforts. However, the COVID-19 pandemic provided an external shock that risks derailing such achievements. The volume includes chapters by academics and researchers from different professional backgrounds: history, economics, public law, political science, public administration and political economy. Their diverse experience and viewpoints contribute to multidimensional analyses in subject areas such as Greece’s constitutional structure, public sector reforms, labour market developments, China’s expanding investment footprint and product market reforms.

Living Under Austerity

Living Under Austerity PDF Author: Evdoxios Doxiadis
Publisher: Berghahn Books
ISBN: 1785339338
Category : Business & Economics
Languages : en
Pages : 0

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Book Description
Since its sovereign debt crisis in 2009, Greece has been living under austerity, with no apparent end in sight. This volume explores the effects of policies pursued by the Greek state since then (under the direction of the Troika), and how Greek society has responded. In addition to charting the actual effects of the Greek crisis on politics, health care, education, media, and other areas, the book both examines and challenges the “crisis” era as the context for changing attitudes and developments within Greek society.

SME Finance and the Economic Crisis

SME Finance and the Economic Crisis PDF Author: Alina Hyz
Publisher: Routledge
ISBN: 0429759096
Category : Business & Economics
Languages : en
Pages : 135

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Book Description
This book analyses the financing problems of Greek small and medium-sized enterprises (SMEs), within a liberalized financial system and within an economic environment of fiscal and monetary constraints. Using recent data covering a ten-year period, the main aim of the research is to explain the interdependence between the situation of the banking sector generally and that of small and medium enterprises. The author argues that the reluctance of banks to lend to Greek companies because of the strict financing constraints, due to the national debt crisis, serves to exacerbate the cycle of economic recession. This factor seriously undermines the efforts of Greek companies to develop growth opportunities, and negatively affects their competitiveness as well as their ability to strengthen their market position. The author examines the supply and demand aspect of the problem: there is lower demand for lending due to the decline of demand for goods and services as well as a tightening of banks’credit standards, whilst on the supply side, the deteriorating financial situation of banks and their willingness to avoid increasing risk are important contributing factors. Finally, the author presents the main conclusions of the analyses carried out in the previous sections of the book and discusses some relevant recommendations for future research. Building on the extant literature, this book analyses the problem from the point of view of both businesses and the banking sector. The study is useful for scholars, businesses and policy decision makers who are interested in the problem of small and medium-sized enterprises financing.

Greece in Crisis

Greece in Crisis PDF Author: Dimitris Tziovas
Publisher: Bloomsbury Publishing
ISBN: 1786722526
Category : Social Science
Languages : en
Pages : 324

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Book Description
Since 2010 Greece has been experiencing the longest period of austerity and economic downturn in its recent history. Economic changes may be happening more rapidly and be more visible than the cultural effects of the crisis which are likely to take longer to become visible, however in recent times, both at home and abroad, the Greek arts scene has been discussed mainly in terms of the crisis. While there is no shortage of accounts of Greece's economic crisis by financial and political analysts, the cultural impact of austerity has yet to be properly addressed. This book analyses hitherto uncharted cultural aspects of the Greek economic crisis by exploring the connections between austerity and culture. Covering literary, artistic and visual representations of the crisis, it includes a range of chapters focusing on different aspects of the cultural politics of austerity such as the uses of history and archaeology, the brain drain and the Greek diaspora, Greek cinema, museums, music festivals, street art and literature as well as manifestations of how the crisis has led Greeks to rethink or question cultural discourses and conceptions of identity.