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Stournaras presents debt relief plan with maximum benefits for Greece, minimum cost for lenders
EconomyMacroeconomyperiod, which falls to 2 percent of GDP thereafter. The BoG suggests a third scenario (option 1... relief in the form of smoothing interest payment for EFSF loans coupled with a primary surplus of 2... primary surplus of 2 percent after 2018, extension of all eurozone loan maturities by 20 years
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The allocation of labor resources in Greece and the EU-27
Agoradestruction.”[1] The public sector never goes out of business, no matter how inefficient it is. If it runs... then plotted an index (2001-Q1=100) for employment in the public and private sectors. Figure 1... employment has grown or declined in the public and private sectors since early 2001. From figure 1
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Where is Odysseus? Part 3 - Participation
Agora. Recall, there are two reasons: 1. Slightly higher population and, 2. Slightly bigger WAP... in English, Bob Traa: “The Macroeconomy of Greece” (Amazon.com 2020). [2] Figure 1 shows constant scenarios... is described in a book on the macroeconomy of Greece.[1] But, shortly underway, the Covid-19 pandemic
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Where is Odysseus? Part 5 - Productivity
Agora.[2] The dotted line in Figure 1 shows the employment path that was anticipated in Odysseus’ 2018... on the macroeconomy of Greece.[1] In blog 16, we updated Greece’s demographic projections and found... is more easily transmitted in graphs than in lengthy complex tables. Employment. Consider Figure 1, below
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European Commission review of Greek programme: The key points
EconomyProgrammerecovery, unemployment is seen easing by 1.3 percentage points (pp) in 2014 and by an additional 2... year, 2 billion could not be cleared in 2013 and therefore are expected to be paid in 2014. Delays... of the next sub-tranche of 1 billion (due in June) include six prior actions, namely: 1) adoption of outdoor
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Newsletter 29 - 05/06/2015
surplus targets to 1 percent of GDP for 2015, 2 percent in 2016, 3 percent in 2017 and 3.5 percent... lenders are demanding new fiscal measures of around 3 billion, which is markedly higher than the 1–1.5..., for the 1 percent primary surplus target to be met, additional measures of 3 billion have to be adopted
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The quarterly national accounts from the income side
Agorapartner countries.[1] This suggests three things: 1) Keynesian policies work (when the private sector pulls back, a government impulse helps to level GDP upwards); and 2) The challenge for Greece is now... the basis for real GDP from the production side (Table 1). Since all the goods and services
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Tracking Greece's fiscal performance
Agoratime. Figure 1 shows the overall fiscal balance over 10 years through 2022-Q2 as reported by two key... are calculated on what is called a “modified cash basis,” the dashed line in Figure 1. This means... at the time when these have an economic impact (solid line in Figure 1), even if the budget cash impact
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Greece and the euro: The flight of Icarus
Agora. When one considers that Greece accounts for less than 4 percent of the eurozone’s total debt or GDP... stagnant by comparison. When Greece entered the euro, it exported 1 euro for every 3 it imported. By 2009... this week showed that the primary deficit was reduced to just 2 billion euros in September. It is worth
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Two hurdles left for coalition this year before bigger challenges in 2014
PoliticsGreek Politicsfor homeowners to be protected from repossessions: 1) The taxable value of the property must not exceed 200,000 euros 2) Gross household income should be a maximum of 35,000 euros 3) The owner’s total assets
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