Agora
Posts in Economy
![Photo by Can Esenbel [http://www.mundanepleasure.com/]](resources/toolip/img-thumb/2013/10/16/stocks2_economy_esenbel-large.jpg "Photo by Can Esenbel [http://www.mundanepleasure.com/]")
Who benefits from Greece’s return to the markets?
Now that the euphoria is beginning to die down let’s take a second, more sober look at what Greece achieved last week when the investment community hailed the country’s return to the markets. Politicians from Prime Minister Antonis Samaras’s government were quick to join the chorus of cheerleaders, with impressive support from members of the media and market analysts.
Contributor: Jens Bastian
Categories: Economy (331), Greece (498)
Does return to markets signal end of Greek crisis? The perils of ignoring macro-economic fundamentals
Politics today is the art of shaping a narrative, with the overriding preference being for one that is in harmony with markets and investors. This narrative is currently being formulated in real time in Greece. It is centred on the much anticipated return of the Greek sovereign to international bond markets.
Contributor: Jens Bastian
Categories: Europe (282), Politics (387), Economy (331), Greece (498)
No victory, just plenty of misery
It has become evident over the last few weeks that the eurozone’s pro-austerity camp is trying to defend its record, either through the ground it is afforded by influential media or through commentators that end up resembling cheerleaders rather than sober judges of the events that have unfolded in the single currency area.
Contributor: Yiannis Mouzakis
Categories: Europe (282), Politics (387), Economy (331), Society (142), Greece (498)
![Photo by Can Esenbel [www.mundanepleasures.com]](resources/toolip/img-thumb/2013/10/16/cityconstruction_agora_esenbel-large.jpg "Photo by Can Esenbel [www.mundanepleasures.com]")
A return to capital markets for Greek banks but no return to domestic lending
In the future we may look back on the past two weeks as a watershed moment for Greek banks following the onset of the twin financial and sovereign debt crisis in 2009. After extensive and well prepared international road shows, financial institutions in Athens attracted unprecedented levels of foreign investors' interest for bond placements and capital-raising initiatives.
Contributor: Jens Bastian
Categories: Economy (331), Greece (498)
![Photo by Myrto Papadopoulos [www.myrtopapadopoulos.com]](resources/toolip/img-thumb/2013/10/09/poverty_myrto_0910-large.jpg "Photo by Myrto Papadopoulos [www.myrtopapadopoulos.com]")
The Greek crisis we don’t see
The economic impact of the Greek crisis has been well publicised. A recession that began in 2008 has led to GDP contracting by a quarter, while unemployment has risen above 27 percent. Greece’s fiscal consolidation effort has also received much attention. A general government deficit of 15.6 percent in 2009 was transformed into a small surplus in 2013 – one of the sharpest adjustments the world has ever seen.
Contributor: Nick Malkoutzis
Categories: Economy (331), Society (142), Greece (498)