In June 2017, the Eurogroup of 19 EU finance ministers agreed to pay out the third tranche of €8.5 billion from the Greek bailout package. In total, Greece has received about €300bn from the rescue package until now. But did this incredibly high amount of money reach the Greek population? Did its living conditions improve? […]
What happened in Greece during the crisis? And what happens when you take on the establishment? In this extensive interview with EFN, former finance minister of Greece Yanis Varoufakis, talks about his new book Adults In The Room – My battle with Europe’s deep establishment.
A valuable insight into the conflicts within the IMF and especially between the executive board of the organization and its management and staff has emerged from a recent internal report into the body’s handling of the Eurozone crisis – specifically Greece, Ireland and Portugal. At the hearth of this conflict was the decision-making process, which […]
Beginning from the first weeks of September and during the next few months, the European Union and Eurozone will have to provide convincing answers to a number of crucial issues vital to the future of the Union. Greece is entering again into the core of the debate, revving up for the second bailout review as […]
The EU’s political landscape is being transformed as the economic and the refugee crises intertwine with terror. Populism is becoming consistently a rising force across Europe. Manifested in left- or right-wing varieties, populism either “defends” the poor against the elites and neoliberalism, or alternatively, the country’s national identity against Islamists and foreigners by thriving on […]
Watch Mark Blyth and Euclid Tsakalotos discuss austerity and the outline of a New Deal for Europe and for Greece. The discussion was chaired by Social Europe Editor-in-Chief and complemented by contributions by David Schäfer and Viktoria Nagy. The event was introduced by the Director of the FES Athens Office Christos Katsioulis.
A commitment to the independence of central banks is a vital part of the creed that “serious” policymakers are expected to uphold (privatization, labor-market “flexibility,” and so on). But what are central banks meant to be independent of? The answer seems obvious: governments. In this sense, the European Central Bank is the quintessentially independent central bank: No […]
The outcome of the most recent Eurogroup meeting was a positive step towards the conclusion of the first review of the Greek program. The large-scale reform agenda of the government was endorsed by the institutions, paving the way for the long-awaited discussion on public debt. In this respect, the orchestrated efforts by the main (conservative) […]
Once again, Greece is at an inflection point. With its cash balances severely stressed, it seems unlikely to be able to pay the cascading debt payments that are falling due over the next few months. So yet another round of contentious and protracted discussions with its creditors is underway – one that may well produce […]
The latest flare up regarding Greece has followed publication by Wikileaks of illegally taped discussions among IMF officials. To analyse the significance of this event it is vital to bear one point in mind: Greece cannot meet the terms of the bailout agreement struck on July 2015 by Prime Minister, Alexis Tsipras. The agreement is […]
In January 2015 Syriza came to power with the aim of tackling austerity, bringing back social justice and growth, building on a challenging but necessary reform package, addressing sky-rocketing unemployment and poverty, fighting corruption. The task seemed impossible, but what we have witnessed so far is a government that fights against the odds every single day […]
It was wrong from the start. Going on the incorrect assumption that the Eurozone crisis could only be overcome with the help of the crisis-proven IMF, it was the German government above all that insisted on embedding the Fund as an equal partner in the Troika meant to draw up and monitor the rescue programme […]