https://toarcheio.org To Archeio project site Thu, 30 Apr 2020 16:48:32 +0000 en-GB hourly 1 https://wordpress.org/?v=5.4.1 https://toarcheio.org/items/whatever-happened-to-greece/ Tue, 16 Apr 2019 22:25:17 +0000 http://arc.local/items/whatever-happened-to-greece/ Continued]]> The sovereign debt crisis in Greece and other periphery countries is a yardstick for the viability of the European project: if Greece defaults and exits the Euro‐zone, then the entire European architecture will be questioned. This article examines the origins of the Greek debt crisis and argues that the key sources of the debt are the economic and political factions that have dominated Greek politics since the fall of the Colonels in summer 1974 amidst the Cyprus calamity. These factions (political parties, comprador economic interests etc.), whose policy actions and preferences are amalgamated with the interests of Euro‐Atlantic elites, are now being severely undermined, both politically and economically, as the prosperity of the Greek middle classes is eroded following two years of harsh austerity measures imposed on the Greek ruling factions by those Euro‐Atlantic elites. Furthermore, this article outlines ways out of the Greek debt crisis, putting into test some reasonable policy proposals that are being widely discussed in Greece and abroad.

]]> https://toarcheio.org/items/making-sense-of-greek-austerity/ Tue, 16 Apr 2019 22:25:15 +0000 http://arc.local/items/making-sense-of-greek-austerity/ Continued]]> The process of approving a Greek drawing on funds provided by the international community is now familiar. There is concern about the prospect of securing an agreement between the International Monetary Fund (IMF), the European Union (EU), the European Central Bank (ECB), and Greece, which satisfies all parties. This paper suggests that all parties to the agreement have interests in an orderly resolution of the Greek crisis that keeps Greece in the Eurozone. Furthermore, it argues that disagreements and delay before eleventh‐hour agreements can best be explained politically. The paper first demonstrates how Greece, the IMF, and the EU each have a clear interest in finding an orderly solution to the Greek crisis that allows it to remain in the Eurozone. It then outlines the incremental nature of the package and its strategic benefit both for the European banking sector, and governments in Greece and the Eurozone more broadly.

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