Agora
Posts by Yiannis Mouzakis
In hindsight it would have been nicer
The Greek bailout was primarily designed to protect the rest of the eurozone from contagion in its banking sector. It's basically as simple as that. International Monetary Fund managing director Christine Lagarde admitted as much in an interview on Monday. “The choice was made to make sure the Europeans built their firewall first before anything very serious was done about the Greek debt,” Lagarde told CNN's Christiane Amanpour.
Contributor: Yiannis Mouzakis
Categories: Europe (282), Economy (331), Greece (498)
We need to talk about unemployment
At the Organization of Economic Cooperation and Development (OECD) Council of Ministers in Paris on Wednesday, Greek Finance Minister Yannis Stournaras challenged the institution’s forecast that Greece will remain in recession next year, which would mean a seventh straight year of contraction. Stournaras thinks the OECD will be proved wrong. There isn’t a Greek in the world who doesn’t hope he will be proved right.
Contributors: Nick Malkoutzis, Yiannis Mouzakis
Categories: Economy (331), Greece (498)
Honey, I shrunk the Greeks
The IMF without any hesitation admits that the main beneficiary of that May 2010 so called Greek bailout was not Greece itself but the eurozone as it gave the opportunity to French and German banks to get paid in full and unload their large exposure to Greek debt from their books on the official sector and European taxpayers.
Contributor: Yiannis Mouzakis
Categories: Europe (282), Economy (331), Greece (498)
Taking a macro snapshot
Could it be possible that consumed by the crisis we are missing the turn of events and the small signs of improvement that start emerging though unnoticed? Is the good news simply lost as the crisis tests the Greek social fabric?
Contributor: Yiannis Mouzakis
Categories: Economy (331), Greece (498)
An issue of statistical significance in Greece
The head of Greece’s statistics agency, Andreas Georgiou, is to face a criminal inquiry. An ex-employee of the Hellenic Statistical Authority (ELSTAT), Zoe Georganta, has accused him of colluding with the European Union’s statistical arm, Eurostat, to inflate Greece’s deficit figure for 2009, thereby justifying Greece’s EU-IMF bailout, signed in May 2010, and its drastic austerity measures. Georgiou vehemently denies the charges.
Contributors: Nick Malkoutzis, Yiannis Mouzakis
Categories: Economy (331), Greece (498)