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2. Greece: Country fact sheet
- Publication Date:
- 03-2022
- Content Type:
- Country Data and Maps
- Institution:
- Economist Intelligence Unit
- Abstract:
- No abstract is available.
- Topic:
- Summary, Economy, Background, and Fact sheet
- Political Geography:
- Greece
3. Greece: Country forecast summary
- Publication Date:
- 03-2022
- Content Type:
- Country Data and Maps
- Institution:
- Economist Intelligence Unit
- Abstract:
- No abstract is available.
- Topic:
- Summary, Economy, 5-year summary, and Key indicators
- Political Geography:
- Greece
4. Greece: Briefing sheet
- Publication Date:
- 03-2022
- Content Type:
- Country Data and Maps
- Institution:
- Economist Intelligence Unit
- Abstract:
- No abstract is available.
- Topic:
- Politics, Summary, Outlook, and Briefing sheet
- Political Geography:
- Greece
5. Greece: Economic structure
- Publication Date:
- 03-2022
- Content Type:
- Country Data and Maps
- Institution:
- Economist Intelligence Unit
- Abstract:
- No abstract is available.
- Topic:
- Economy, Economic structure, Charts and tables, and Monthly trends charts
- Political Geography:
- Greece
6. Greece: Political structure
- Publication Date:
- 03-2022
- Content Type:
- Country Data and Maps
- Institution:
- Economist Intelligence Unit
- Abstract:
- No abstract is available.
- Topic:
- Politics, Summary, and Political structure
- Political Geography:
- Greece
7. Greece: Country outlook
- Publication Date:
- 03-2022
- Content Type:
- Country Data and Maps
- Institution:
- Economist Intelligence Unit
- Abstract:
- No abstract is available.
- Topic:
- Economy, Outlook, Forecast, and Overview
- Political Geography:
- Greece
8. The Eastern Mediterranean conflict: From Turkey-Greece confrontation to regional power struggles
- Author:
- Toni Alaranta
- Publication Date:
- 03-2021
- Content Type:
- Policy Brief
- Institution:
- Finnish Institute of International Affairs
- Abstract:
- For several decades, the Eastern Mediterranean confict consisted of a three-part struggle over territorial wa- ters, sovereignty and exclusionary national narratives between Turkey, Greece, and the Republic of Cyprus. Its origins can be traced as far back as the Greek War of Independence in the 1830s, the Lausanne Peace Trea- ty determining the current borders of the Republic of Turkey in 1923, and the failed bicommunal federal state established in Cyprus in 1960. Regarding the Cyprus confict, the best – but ultimately lost – opportunity to resolve the issue was the 2004 Annan Plan for a bicom- munal federal state. Today, the Eastern Mediterranean confict is a multi-level and multi-actor power strug- gle that is unlikely to wane any time soon. In addition to Turkey, Greece, and Cyprus, it also includes actors such as France, Italy, Libya, Egypt, and the United Arab Emirates. Tis Briefng Paper frst identifes the main actors involved, and then proceeds to analyze the key de- terminants of the confict. Te paper concludes that tension in the Eastern Mediterranean will continue in the foreseeable future. A full military confrontation is unlikely, however, as NATO can provide a necessary platform for a Greece-Turkey de-escalation. Tis is likely to prevent an actual war, but will not be enough to produce any lasting solution in the increasingly confict-ridden Eastern Mediterranean regional power struggle.
- Topic:
- Security, Conflict, Regionalism, and Rivalry
- Political Geography:
- Europe, Turkey, and Greece
9. Making Connectivity Work: Transforming the Port of Thessaloniki into a Top Hub for Southeast Europe and Beyond
- Author:
- Panagiotis Paschalidis and Georgia Anastasiou
- Publication Date:
- 05-2021
- Content Type:
- Policy Brief
- Institution:
- Hellenic Foundation for European and Foreign Policy (ELIAMEP)
- Abstract:
- The Thessaloniki Port has all the necessary elements to become a top regional, South-East European and international trade hub. The Thessaloniki Port Authority has adopted extrovert and proactive policies for strengthening cooperation with neighboring countries. The Thessaloniki Port’s impact can become even stronger if it is approached and designed on the basis of the notion of connectivity. Connectivity entails the upgrading of both technical and material aspects such as trade and commercial infrastructure (hard module) as well as the institutional and policy framework of cooperation such as agreements at the bilateral and multilateral level with neighboring countries (soft module). The drastic normalization of relations between Greece and North Macedonia can be viewed as an example of a comprehensive upgrading of connectivity with tangible benefits for the improvement of the Port’s regional and international role.
- Topic:
- International Cooperation, Infrastructure, Trade, and Port
- Political Geography:
- Europe, Greece, and Thessaloniki
10. Emigration and Fiscal Austerity in the Greek Depression
- Author:
- Eugenia Vella
- Publication Date:
- 05-2021
- Content Type:
- Policy Brief
- Institution:
- Hellenic Foundation for European and Foreign Policy (ELIAMEP)
- Abstract:
- What is the role of emigration in a deep recession when the government implements fiscal consolidation? Our macroeconomic model simulations show that fiscal austerity accounts for 1/3 of the output drop in the Greek Depression and more than 10% of migration outflows. In a no-emigration counterfactual scenario, the model predicts a smaller output fall by 20%. We also uncover a novel bi-directional link between emigration and austerity. On the one hand, labour income tax hikes induce prolonged migration outflows, while spending cuts exert a smaller effect. On the other hand, emigration increases the required tax hike and time to meet a given debt target due to endogenous revenue leakage. In terms of unemployment, temporary gains from emigration are reversed over time.
- Topic:
- Austerity, Fiscal Policy, Emigration, and Economic Crisis
- Political Geography:
- Europe and Greece
11. Citizens’ views on fake news and false narratives about the European Union – FACTS project
- Author:
- George Andreou
- Publication Date:
- 10-2021
- Content Type:
- Policy Brief
- Institution:
- Hellenic Foundation for European and Foreign Policy (ELIAMEP)
- Abstract:
- There is more unison than discrepancy in Greek citizens’ perceptions regarding the European Union. National identity continues to shape and frame the way most Greeks perceive the EU, interpret its activities, and evaluate its role. Participants have a positive image of the EU. However, there is a widespread feeling of disappointment towards an EU that “does not function on equal terms for all”. The general public lacks basic knowledge about the EU and what it stands for, about the respective roles of the Union and its member states, as well as about the ways EU and national officials engage in policy-making. Greeks are very vulnerable to disinformation about the EU, as relevant and reliable information is scarce in the domestic media. Many mobilized citizens feel that information from EU sources is not addressed to all, but only to those who have a strong personal and/or professional motivation. Non-mobilized citizens appear quite distant from information regarding the EU. Lack of solidarity between member states breeds apathy and a lack of interest in the EU among EU citizens. The most effective strategy against disinformation is improving communication between the EU and its citizens, and cultivating trust.
- Topic:
- Public Opinion, European Union, Disinformation, Misinformation, and Fake News
- Political Geography:
- Europe and Greece
12. Greece, Russia and the EU: The Way Forward
- Author:
- George Tzogopoulos
- Publication Date:
- 12-2021
- Content Type:
- Policy Brief
- Institution:
- Hellenic Foundation for European and Foreign Policy (ELIAMEP)
- Abstract:
- The visit of PM Mitsotakis to Sochi could open a new chapter in Greek-Russian relations as bilateral deals are in the pipeline. The Greek position is firm and unchanging: a normalization of EU-Russian relations would be in Europe’s best interests. The Greek government might be prepared to help bring about a new EU-Russia dialogue. The strengthening of Greek-American relations will not prevent Greece from employing a multidimensional foreign policy, vis-à-vis Russia, too. Stronger Greek-Russian relations could send a message to Turkey that some of its regional policies are alienating other actors. Greek-Russian relations enjoy greater historical depth than Turkish-Russian relations. While its strategic commitment to NATO and the EU remains steadfast, Greece is a valuable partner for Russia. Greece is in the process of diversifying its sources of natural gas imports, but considers Russia a critical market.
- Topic:
- International Relations, Foreign Policy, European Union, and Imports
- Political Geography:
- Russia, Europe, and Greece
13. The Digital Markets Act (DMA): Between European autonomy and transatlantic cooperation
- Author:
- George Tzogopoulos
- Publication Date:
- 11-2021
- Content Type:
- Working Paper
- Institution:
- Hellenic Foundation for European and Foreign Policy (ELIAMEP)
- Abstract:
- Greece is seeking to unleash innovation and digitalization to stabilize its economy in the aftermath of the economic crisis and to recover from the pandemic. Greece is closely monitoring EU regulatory developments on digital affairs and adjusting its legislation accordingly. The proposed Digital Markets Act (DMA) is aligned behind the broader EU strategy of increasing European digital autonomy, an objective also endorsed by Greece. The DMA-related concerns of politicians, experts, representatives of the business sector and start-uppers are important and multifaceted, and ought to be taken into account in Europe (and Greece), especially with regard to the question of the DMA’s allegedly negative impact on innovation. It is in the interest of the EU (and Greece) to strike a balance between the emphasis on regulation and ‘gatekeepers’ on the one hand, and the need for enterprises and start-ups to benefit from services provided by digital giants (often for free) on the other. Combining the above with the pursuit of European digital autonomy is a demanding task. Although the DMA does not directly impact on Greek companies, the country is hoping for a smooth evolution in transatlantic relations during the Biden Presidency, both generally and in technological affairs. Greek start-ups envisage a boost in their US presence. The DMA proposal is inevitably complex; more time may be required for some EU member-states, including Greece, to actively join the debate.
- Topic:
- European Union, Transatlantic Relations, Autonomy, and Digital Markets Act (DMA)
- Political Geography:
- Europe and Greece
14. Nudging for Recovery: Behavioral Economics and the implementation of the National Recovery and Resilience Plan
- Author:
- Demosthenes Kollias
- Publication Date:
- 10-2021
- Content Type:
- Working Paper
- Institution:
- Hellenic Foundation for European and Foreign Policy (ELIAMEP)
- Abstract:
- With the National Recovery and Resilience Plan, Greece is presented with yet another opportunity to catch up with global trends. At the same time, behavioral economics are being established worldwide as a valuable asset in the policy maker’s toolkit. The paper -mainly focusing on taxation, labor market policy, and climate change- aims to examine the behavioral conundrum that creates frictions and inefficiency in the domains outlined above and to offer concrete and quantifiable policy proposals, in accordance with the goals of Greece 2.0. Regarding tax evasion, for example, one can estimate at least €1 billion in additional tax revenue if the proposals are implemented.
- Topic:
- Climate Change, Economics, Tax Systems, Labor Market, and Economic Recovery
- Political Geography:
- Europe and Greece
15. The role of Turkey in the Eastern Mediterranean conflict zone: A country transformed and a glimpse into the future
- Author:
- Thrasyvoulos Terry Stamatopoulos
- Publication Date:
- 10-2021
- Content Type:
- Working Paper
- Institution:
- Hellenic Foundation for European and Foreign Policy (ELIAMEP)
- Abstract:
- Major population movements have contributed to the transformation of the social and political landscape in Turkey. Political Islam and a resurgent nationalism are now among the primary factors in decision-shaping. National ambition is visibly shifting away from close association with/participation in the West, coloured by a visible revival of a particular view of its Ottoman past. The resulting domestic political dynamics are affecting the composition and traditional Western orientation of major state institutions, including the military. The above translate in a trend of distancing of the Turkish Republic from its partners of the last century and of difficult if not hostile relations with the US, the EU and some of its member-states, and other states in the region. The shift to a multi-polar world is contributing to this trend, fueling ambitions of the Government, but also of a significant part of the broader elite, for an increased role of Turkey as a regional power and on the global stage. The US and its allies, and the EU and its member-states must engage in a serious evaluation of Turkey’s transformation and its strategic orientation, which they have yet to do.
- Topic:
- Foreign Policy, European Union, Conflict, and Islamism
- Political Geography:
- Turkey, Greece, United States of America, and Mediterranean
16. Skills mismatch in the Greek labour market: insights from a youth survey
- Author:
- Dimitris Katsikas
- Publication Date:
- 09-2021
- Content Type:
- Working Paper
- Institution:
- Hellenic Foundation for European and Foreign Policy (ELIAMEP)
- Abstract:
- This policy paper presents some first findings from a youth survey relating to the skills mismatch in Greece. The survey was conducted in the context of the EEA Grants sponsored research project “Youth employment and gender equality: Mobilizing human capital for sustainable growth in Greece”, which is implemented by ELIAMEP and the Norwegian institute Fafo. The project seeks to document and analyze conditions in the Greek labour market, with an emphasis on the main barriers constraining young people’s access to it and on their progress once they get a job. Pending a more in-depth analysis of the findings, the preliminary evidence presented here adds some insights to the study of the skills mismatch phenomenon in Greece and helps us outline a few policy proposals. Skills mismatch is a significant problem for modern economies, as it leads to the inefficient utilization of the labour force, reducing productivity and growth potential. Research shows that Greece faces a serious skills mismatch problem. The findings of a youth survey presented here: Confirm the problem for the Greek labour market in both its vertical (over/ underqualification) and horizontal (field of study) dimensions. Show that skills mismatch affects graduates within every level and orientation (e.g., vocational training) of the educational system. Document young people’s belief that the educational system does not prepare them well for the labour market Show that skills mismatch is a serious obstacle to labour market entry for young people Confirm the lack of learning opportunities for those in employment, as well as the importance which young people attach to such opportunities for their professional progress. Reveal that young people often reject jobs due to low pay and unsatisfactory employment conditions, implying that reported skills shortages are also due to the terms of employment on offer. Policy responses should be multi-faceted, targeting both the educational system and the economy. Providing students with information about market developments and trends, and taking such information into account in the design of educational curricula (particularly in vocational training) is essential if the skills mismatch problem is to be addressed.
- Topic:
- Youth, Survey, Labor Market, and Skills
- Political Geography:
- Europe and Greece
17. Greece’s Rise as a Trans-Mediterranean Power: Greece’s Eastern Mediterranean strategic shift to Europe-to-Africa and Europe-to-Middle East connectivity
- Author:
- Michaël Tanchum
- Publication Date:
- 02-2021
- Content Type:
- Working Paper
- Institution:
- Hellenic Foundation for European and Foreign Policy (ELIAMEP)
- Abstract:
- Greece stands at the threshold of a strategic shift that could see the Hellenic Republic become Europe’s geopolitical gatekeeper of the emerging East Africa-to-Europe and Middle East-to-Europe commercial corridors. Whether Greece becomes a European leader in trans-Mediterranean connectivity depends on Athens’ ability to develop its own position in East Africa-to-Europe and Middle East-to-Europe manufacturing value chains. Greece’s advancing green energy, innovation economy offers promising avenues to engage Egypt, Israel, the UAE, and Saudi Arabia in joint ventures that will transform Greece into a cutting-edge trans-Mediterranean actor. Greece’s new trans-Mediterranean profile is a strategic shift that will require the EU system to adjust its perception of Greece and incentivize closer coordination between Greece and other member states to facilitate joint venture investments in the two corridors. In the absence of such coordination, Athens will continue to deepen its relations with Egypt, Israel, the UAE, and Saudi Arabia while engaging with select EU member states. The extent to which Greece succeeds at industrial value chain integration will determine its role in the emerging trans-regional commercial architecture, and with it, Greece’s strategic standing within the European Union and the MENA region.
- Topic:
- European Union, Geopolitics, Trade, and Value Chains
- Political Geography:
- Africa, Europe, Middle East, Greece, and Mediterranean
18. Turkish drones, Greek challenges
- Author:
- Antonis Kamaras
- Publication Date:
- 03-2021
- Content Type:
- Working Paper
- Institution:
- Hellenic Foundation for European and Foreign Policy (ELIAMEP)
- Abstract:
- This paper analyses the evolution of Turkey’s capacity to conduct drone-led warfare, an evolution driven by its assertive national security and foreign policy. It connects this feature of Turkey’s war-fighting capability to the debate on the impact drones have on the modern battlefield and on conflictual interstate relations. The paper attributes the underdevelopment of Greece’s drone and counter-drone capacity to the country’s fiscal crisis and to the civilian leadership’s unwillingness to make use of Greece’s alliances, geographical position and R&D ecosystem to develop such capacities. The analysis identifies the factors and processes that can accelerate the speed at which the Greek armed forces ready themselves to meet the evolving challenges—including drones—posed by their assertive neighbour.
- Topic:
- Foreign Policy, National Security, Drones, and Alliance
- Political Geography:
- Europe, Turkey, Middle East, Greece, and Mediterranean
19. Greek Diaspora in an uncertain world
- Author:
- Othon Anastasakis and Antonis Kamaras
- Publication Date:
- 04-2021
- Content Type:
- Working Paper
- Institution:
- Hellenic Foundation for European and Foreign Policy (ELIAMEP)
- Abstract:
- Greece’s fiscal crisis has energized its relationship with its diaspora in the last several years, after decades of decline, as well as reshaping the diaspora itself due to the massive crisis-driven migration. Research institutes as well as individual scholars have addressed key aspects of the diaspora and homeland relationship prior to and during the crisis. South East European Studies at Oxford (SEESOX) established in 2015 the Greek Diaspora Project, a dedicated research unit which has applied the well-established diaspora and development literature to the Greek case, in the crisis and post-crisis years. The opportunities for synergistic research between University centers and think tanks located in Greece and abroad, in satisfactorily addressing this crisis-driven transformation of the diaspora & homeland relationship, are compelling. SEESOX and ELIAMEP have thus decided to collaborate so they can catalyse such synergies both between themselves and with universities in Greece and abroad. SEESOX’s and ELIAMEP’s joint endeavor will be resolutely comparative as well as cross-disciplinary, reflecting both the requirements of a highly advanced diaspora studies prospectus as well as the respective strengths of the two partners.
- Topic:
- Migration, Diaspora, and Economic Crisis
- Political Geography:
- Europe and Greece
20. Revisiting and going beyond the EU-Turkey migration agreement of 2016: an opportunity for Greece to overcome being just “Europe’s aspis”
- Author:
- Kemal Kirisçi
- Publication Date:
- 04-2021
- Content Type:
- Working Paper
- Institution:
- Hellenic Foundation for European and Foreign Policy (ELIAMEP)
- Abstract:
- In contrast to early last year, marked by a “border crisis” that erupted after the Turkish President finally put into action his long-standing threat to “open the border” for Syrian refugees, the year 2021 had a more promising start. The intense tensions in the Aegean Sea and the Eastern Mediterranean that followed the “border crisis” appear to be subsiding. The European Council statement of March 25 offers a possible framework for dialogue and diplomacy to take over from what was an annus horribilis in Greek-Turkish and EU-Turkish relations. Within this framework, room is also made for revisiting the EU-Turkey statement adopted in March 2016 to manage the aftermath of the European migration crisis that had seen a mass displacement of refugees and migrants primarily from Turkey to Greece and on to Europe. The statement has had many opponents and its implementation has faced multiple grievances and recriminations from both sides. Addressing and overcoming these challenges will call for extensive diplomatic effort, good will and take considerable time. In the interim, however, the emerging positive climate offers the possibility to explore expanding cooperation in a relatively successful but inadequately appreciated part of the EU-Turkey statement known as the Facility for Refugees in Turkey (FRIT). FRIT has been instrumental in supporting Syrian and other refugees in Turkey. It has been an important manifestation of burden-sharing with Turkey and has benefitted refugees in concrete terms. Advancing cooperation in this area would also help contribute to mutual confidence building and have a positive spill over into other more complicated issue areas in the migration domain and broader bilateral relations.
- Topic:
- Foreign Policy, Migration, Treaties and Agreements, and Refugees
- Political Geography:
- Europe, Turkey, Middle East, Greece, and Mediterranean
21. Ahead of the five-party meeting: Convergences and bridgeable differences towards the reunification of Cyprus
- Author:
- George Kalpadakis
- Publication Date:
- 04-2021
- Content Type:
- Working Paper
- Institution:
- Hellenic Foundation for European and Foreign Policy (ELIAMEP)
- Abstract:
- The prospect of achieving a bizonal, bicommunal federal solution to the Cyprus problem was dealt a blow in the summer of 2017 when the unification talks between the two sides were suspended. The deterioration of the climate since then and the concomitant danger of abandoning the UN framework for a solution amid Turkey’s and the T/C side’s apparent insistence on a two-state solution, underscores the necessity to sketch out the convergences that have reportedly been achieved as well as the most significant issues on which the divergences appear to be bridgeable. Ahead of the upcoming informal five-party meeting on the Cyprus issue and the challenge of “rebooting” Crans Montana, this paper briefly outlines these issues based on a recently released UN document, indicating that they form an integral part of the elusive signposts towards a final settlement. Moreover, it refers to a number of ongoing and new civil society initiatives in support of peace and reunification.
- Topic:
- United Nations, Negotiation, Peace, Reconciliation, and Reunification
- Political Geography:
- Turkey, Greece, Cyprus, and Mediterranean
22. A fresh start for Greece-Libya relations: A view from Nicosia
- Author:
- Yiannis Ioannou
- Publication Date:
- 05-2021
- Content Type:
- Working Paper
- Institution:
- Hellenic Foundation for European and Foreign Policy (ELIAMEP)
- Abstract:
- Mitsotakis’ official visit to Libya and the reopening of the Greek embassy in Tripoli is a positive step towards normalization. The Libyan-Turkish memorandum on the delimitation of maritime zones will be difficult to revoke- but it must not be the only focal point of Greek-Libyan relations. The period leading to the December 24 elections in Libya is critical, and the situation in the country will remain volatile due to both internal and external challenges. Turkey retains a significant footprint in Libya with several political, military and economic implications. Libya is an important country for the European Union and remains a source of challenges for European security (irregular migration, terrorism). Greece can play an active mediating role in Libya, at a European, bilateral and regional level.
- Topic:
- International Relations, Security, Migration, Terrorism, Bilateral Relations, and European Union
- Political Geography:
- Greece and Libya
23. The ‘Magnificent Seven’ of European Defence Integration
- Author:
- Spyros Blavoukos and Panos Politis-Lamprou
- Publication Date:
- 06-2021
- Content Type:
- Working Paper
- Institution:
- Hellenic Foundation for European and Foreign Policy (ELIAMEP)
- Abstract:
- Defence cooperation in the EU is growing, reflecting the European citizens’ view of the EU as a security enhancer. This policy paper takes stock of current developments and analyses the positions of seven EU member-states on defence integration (France, Germany, Italy, Spain, Poland, Portugal, and Greece). The ‘Magnificent Seven’ are key players in this process, not least because of their large defence budgets and their engagement in the existing forms of cooperation. We examine the defence budget of the seven countries and their breakdown, as well as their participation in Battlegroups, EU military operations and missions, and PESCO projects. The analysis provides significant insights on the national defence priorities. The seven countries form overlapping clusters, according to their political status and aspirations in the European integration process, their economic condition, their geographical location, and their relations with the US and NATO. All of them are facing significant dilemmas and engage in subtle balancing acts, which explains the slow and arduous path of European defence integration.
- Topic:
- Defense Policy, Military Affairs, European Union, and Regional Integration
- Political Geography:
- Europe, Greece, France, Poland, Germany, Spain, Italy, and Portugal
24. Public Administration in the era of Covid-19: Policy Responses and Reforms underway
- Author:
- Manto Lampropoulou
- Publication Date:
- 06-2021
- Content Type:
- Working Paper
- Institution:
- Hellenic Foundation for European and Foreign Policy (ELIAMEP)
- Abstract:
- Covid-19 has caused an unprecedented shock to the state apparatus and has triggered major reforms in the administrative system of Greece. Policy responses to the pandemic have brought about several positive changes towards the modernization and de-bureaucratization of public administration. However, the pace and scale of change vary significantly. The pandemic has acted as a strong driver for the digital transformation of the public sector and the strengthening of e-government policies. Numerous administrative procedures were streamlined, digitalized and simplified, working conditions have become more flexible and several improvements have taken place in service delivery and state-citizen relations. The observed centralisation of decision-making and the often use of fast-track procedures have raised questions of democratic control, transparency and the rule of law, while the emergency measureshave been criticized for the threats they pose for the protection of citizens’ rights, individual liberties and personal data. A key challenge remains the integration the emergency measures of the covid-19 policy agenda into a longer-term programme of administrative reform in the post-covid era.
- Topic:
- Reform, Democracy, Rule of Law, Public Policy, Transparency, COVID-19, and Digital Policy
- Political Geography:
- Europe and Greece
25. Turkey-Greece: From Maritime Brinkmanship to Dialogue
- Author:
- International Crisis Group
- Publication Date:
- 05-2021
- Content Type:
- Special Report
- Institution:
- International Crisis Group
- Abstract:
- In mid-2020, Turkey and Greece put their Mediterranean fleets on high alert, dramatically raising tensions in their long-running dispute over air, water, rock and now seabed gas deposits as well. Talks have been frustrating but remain the best way to contain the risk of conflict.
- Topic:
- Maritime Commerce, Territorial Disputes, Water, Maritime, and Conflict
- Political Geography:
- Europe, Turkey, Greece, and Mediterranean
26. Albania-Greece Sea Issue Through the History Facts and the Future of Conflict Resolution
- Author:
- Senada Reci and Luljeta Zefi
- Publication Date:
- 09-2021
- Content Type:
- Journal Article
- Journal:
- Journal of Liberty and International Affairs
- Institution:
- Institute for Research and European Studies (IRES)
- Abstract:
- The issue of the sea between Albania and Greece has been and continues to be an object of study for various authors. Research shows so far that many studies have tried to go slightly from the descriptive to the explanatory and analytical framework and have generally fallen into the ‘trap’ of subjective approaches creating the phenomenon of nationalism. That appears in different forms, damaging the spirit of friendship and cooperation between both countries. This paper analyzes relations between Albania and Greece and their evolution based on international acts until the decision of the Albanian Constitutional Court annulling the agreement between them on the issue of the sea as incompatible with the constitution in terms of absolute objectivity. The demands of the Greek state for extension with 12 miles under the magnifying glass of the interpretation of the norms of the international law of the sea, the principle of equality and equity are part of the insistence on gaining superiority in the sea area vis-à-vis Albania. All this leading to the dialogue for another treaty cooperation and friendship occupy a vital part of the facts, which constitute an ongoing open discussion about the future of the sea issue on the Hague International Court.
- Topic:
- Diplomacy, Water, Conflict, Borders, and Oceans and Seas
- Political Geography:
- Europe, Greece, and Albania
27. The Challenges of Redressing Violations of Economic and Social Rights in the Aftermath of the Eurozone Sovereign Debt Crisis
- Author:
- Giulia Ciliberto
- Publication Date:
- 06-2021
- Content Type:
- Journal Article
- Journal:
- The Goettingen Journal of International Law
- Institution:
- The Goettingen Journal of International Law
- Abstract:
- The Eurozone sovereign debt crisis represented an occasion to assess whether the international, European Union, and national systems provide adequate remedies for violation of socio-economic rights caused by austerity measures. Victims of these violations tried to obtain a remedy by lodging complaints before national judicial organs, the Court of Justice of the European Union, international human rights bodies (such the UN Committee on Economic, Social and Cultural Rights, the ILO Committee on Freedom of Association and the European Committee on Social Rights), and the European Court of Human Rights. This article addresses whether one (or more) of these venues indicted adequate remedies of violations of socio-economic rights and whether these mechanisms could have adopted a different (and more human rights- oriented) adjudicative approach with the view of enhancing the effectiveness of socio-economic rights enshrined in international treaties. The paper assumes that the adequacy of the relief depends on two elements. The first is the collective nature of socio-economic rights, which requires structural or systemic remedies rather than individual ones. The second is the need to preserve States’ economic soundness in order to allow Countries to satisfy their international obligations, namely securing a minimum essential level of socio- economic rights and their progressive realization. Against these assumptions, remedies should benefit the victimized class as a whole, alongside avoiding major distributional or unintended consequences to the detriment of public finances. The investigation focuses on the case law and pronouncements concerning Greece, Portugal, and Spain. The paper reaches the conclusion that constitutional review of austerity measures is the most adequate and effective venue to address such sensitive matters. This is especially true where constitutional courts rely on international conventions protecting socio-economic rights as per se parameters of constitutionality or through consistent interpretation – viz. by construing the national bill of rights in line with treaty-based socio-economic rights.
- Topic:
- Debt, European Union, Economic Cooperation, Socioeconomics, and Economic Rights
- Political Geography:
- Greece, Spain, and Portugal
28. Greece, Cyprus, and the Israeli-Palestinian Peace Process
- Author:
- Gabriel Mitchell
- Publication Date:
- 04-2021
- Content Type:
- Working Paper
- Institution:
- Mitvim: The Israeli Institute for Regional Foreign Policies
- Abstract:
- For decades, the US operated as the central mediator between Israel and the Palestinians. However, after decades of stalled negotiations, it is likely that future peacemaking efforts will be multilateral, reliant on an orchestra of international actors who can support specific processes that, in concert, could encourage Israelis and Palestinians to reapproach one another. This piece examines the role of Greece and Cyprus, two regional actors whose strategic relationship with Israel has strengthened over the last decade, could help advance peace. Though secondary players in the context of the Israeli-Palestinian conflict, there are concrete ways that both states – if invited by the central parties – could contribute to a more conducive environment for cooperation and dialogue.
- Topic:
- Conflict Resolution, Diplomacy, International Affairs, Negotiation, and Peace
- Political Geography:
- Middle East, Israel, Greece, Palestine, and Cyprus
29. Modern Monetary Theory Meets Greece and Chicago
- Author:
- George S. Tavlas
- Publication Date:
- 01-2021
- Content Type:
- Journal Article
- Journal:
- The Cato Journal
- Institution:
- The Cato Institute
- Abstract:
- During the fall of 2009, George Papandreou headed the ticket of the Panhellenic Socialist Movement, known by its acronym PASOK, against the then‐governing conservative party, New Democracy, in the Greek national elections. Papandreou ran on a platform that featured highly expansive fiscal spending. During a press conference on September 13, 2009, he was asked where he would find the money to fund his party’s spending proposals. His answer was that given in the above quotation, by which he meant that Greece had abundant fiscal space to increase government spending; he believed that tax revenues could be sharply raised through stricter enforcement of laws against tax evasion. On October 4, PASOK won a landslide electoral victory, garnering 43.9 percent of the popular vote, compared with 33.5 percent for the second‐place, incumbent New Democracy party, with the result that Papandreou became Greece’s prime minister. In the following months, a sovereign‐debt crisis erupted in Greece that, within a year, engulfed much of the euro area through contagion. In November 2011, Papandreou resigned the premiership, becoming the first Greek prime minister in almost 50 years to be forced out of office by his own cabinet. An article in the Financial Times, reporting on his ouster, stated: “George Papandreou will be remembered by Greeks with more than a trace of bitterness as the man who smilingly declared ‘the money’s there’ ” (Hope 2011). In the next Greek elections, held in June 2012, PASOK won only 12.3 percent of the vote.
- Topic:
- Monetary Policy, Conservatism, Political Parties, and Socialism
- Political Geography:
- Europe and Greece
30. Between Geopolitics and Geoeconomics: The Growing Role of Gulf States in the Eastern Mediterranean
- Author:
- Adel Abdel Ghafar
- Publication Date:
- 02-2021
- Content Type:
- Working Paper
- Institution:
- Istituto Affari Internazionali
- Abstract:
- The role played by countries of the Gulf Cooperation Council (GCC) in the Eastern Mediterranean is becoming increasingly important. This calls for an assessment of their evolving relationship with countries in the region, as well as their involvement in the Libyan conflict. Increased involvement by Gulf actors may inflame existing regional rivalries and geopolitical tensions. The interests of GCC countries in the Eastern Mediterranean are first analysed in the broader context of regional rivalries. Special attention is then devoted to Egypt, Libya, Lebanon, Greece and Cyprus, while considering the role of other key regional actors such as Turkey and Israel. Recommendations on why and how the new US administration should intervene to decrease regional tensions are provided. Paper prepared in the framework of the IAI-Eni Strategic Partnership, January 2021.
- Topic:
- Economics, Geopolitics, and Rivalry
- Political Geography:
- Turkey, Middle East, Israel, Greece, Libya, Lebanon, Egypt, Cyprus, Mediterranean, and Gulf Nations
31. Greece and Turkey: A Prime Example of a Complicated Relationship
- Author:
- Sofia Maria Satanakis
- Publication Date:
- 07-2021
- Content Type:
- Policy Brief
- Institution:
- Institute for Development and International Relations (IRMO)
- Abstract:
- The relations between Greece and Turkey are known to be historically tense and problematic. Despite being NATO allies, their relationship has been marked by various crises over the past decades and often caught the attention of the international community. Greece, on the intermittent military coups (1960, 1971, 1980), while as early as 1964, it became an associate member of the European Community; the goal being to ultimately join the ‘club’ – as Greece did back in 1981.
- Topic:
- Diplomacy, International Cooperation, Bilateral Relations, Conflict, and Rivalry
- Political Geography:
- Europe, Turkey, and Greece
32. Assessing the cost of friction between NATO allies
- Author:
- Odysseus Katsaitis and George Andrew Zombanakis
- Publication Date:
- 12-2021
- Content Type:
- Journal Article
- Journal:
- Security and Defence Quarterly
- Institution:
- War Studies University
- Abstract:
- This paper proposes a method for assessing the cost of friction between North Atlantic Treaty Organisation (NATO) allies and highlights internal threats. This is applied to the Greek–Turkish conflict within the NATO context and concerns the functioning of defence expenditure in Greece, modified in such a way as to focus on the causes of friction between these allies. The analysis concentrates mainly on the issue of internal threats to the long-run equilibrium of NATO. The ARDL methodology used modifies the typical error correction model by introducing a mechanism that accelerates the process that leads back to the long-run equilibrium. Along with assessing the cost to an ally in relation to an internal threat, the method proposed allows the time required for the long-run equilibrium of NATO to be restored. The paper concludes that dynamic incidents of friction between allies expressed as an internal threat disturb NATO’s static equilibrium, destabilise an individual ally’s defence policy and contribute to cost being incurred.
- Topic:
- Defense Policy, NATO, and Defense Spending
- Political Geography:
- Europe, Turkey, and Greece
33. Greece-Israel Relations Help Stabilize the Eastern Mediterranean
- Author:
- Eran Lerman
- Publication Date:
- 05-2021
- Content Type:
- Working Paper
- Institution:
- Jerusalem Institute for Strategy and Security (JISS)
- Abstract:
- Amidst global turmoil, with Ankara seeking to lure away key regional players, the Greece-Israel partnership is a pillar of effective regional strategy.
- Topic:
- Diplomacy, Regional Cooperation, Political stability, Strategic Stability, and Strategic Interests
- Political Geography:
- Europe, Middle East, Israel, Greece, and Mediterranean
34. Biden’s Eastern Mediterranean Agenda
- Author:
- Eran Lerman
- Publication Date:
- 02-2021
- Content Type:
- Working Paper
- Institution:
- Jerusalem Institute for Strategy and Security (JISS)
- Abstract:
- Establishing coherent US policy regarding brewing conflict in the eastern Mediterranean should be a Biden administration priority. By restraining Erdogan’s ambitions, the US can add to stability and rebuild bridges with key European players and traditional US allies. The governments of Israel and Greece, in consultation with Egypt, should work together to advance this perspective in Washington.
- Topic:
- Foreign Policy, Diplomacy, Military Strategy, Leadership, and Conflict
- Political Geography:
- Europe, Turkey, Middle East, Israel, Greece, North America, United States of America, and Mediterranean
35. China’s Influence in Southeastern, Central, and Eastern Europe: Vulnerabilities and Resilience in Four Countries
- Author:
- Erik Brattberg, Philippe Le Corre, Paul Stronski, and Thomas de Waal
- Publication Date:
- 10-2021
- Content Type:
- Working Paper
- Institution:
- Carnegie Endowment for International Peace
- Abstract:
- China’s presence has brought socioeconomic opportunities to Georgia, Greece, Hungary, and Romania. Yet it has exacerbated governance shortfalls, undermined elements of political and economic stability, and complicated the European Union’s ability to reach consensus on key issues.
- Topic:
- Foreign Policy, Governance, European Union, Political stability, Resilience, and Economic Stability
- Political Geography:
- China, Europe, Greece, Romania, Hungary, Georgia, and United States of America
36. Greece: Political and institutional effectiveness
- Publication Date:
- 03-2021
- Content Type:
- Country Data and Maps
- Institution:
- Economist Intelligence Unit
- Abstract:
- No abstract is available.
- Topic:
- Politics, Background, Forecast, and Political and institutional effectiveness
- Political Geography:
- Greece
37. Greece: Political forces at a glance
- Publication Date:
- 03-2021
- Content Type:
- Country Data and Maps
- Institution:
- Economist Intelligence Unit
- Abstract:
- No abstract is available.
- Topic:
- Politics, Summary, Background, and Political forces at a glance
- Political Geography:
- Greece
38. Athens and Jerusalem Have a Diplomatic Opportunity
- Author:
- George N Tzogopoulos
- Publication Date:
- 06-2020
- Content Type:
- Commentary and Analysis
- Institution:
- The Begin-Sadat Centre for Strategic Studies (BESA)
- Abstract:
- Greece, Israel, and five other countries of the Eastern Mediterranean have established the East Med Gas Forum. Turkey is not a member and is employing its own muscular approach in the region. The US would like the Forum to be more inclusive, specifically toward Ankara. Athens and Jerusalem could launch a diplomatic initiative to explore Turkey’s participation, as they have nothing to lose and much to gain from such an initiative.
- Topic:
- International Relations, Foreign Policy, Diplomacy, Gas, and Trade
- Political Geography:
- Turkey, Israel, Greece, Palestine, and Mediterranean
39. Greece economy: Lockdown easing begins but uncertainty remains high
- Publication Date:
- 05-2020
- Content Type:
- Country Data and Maps
- Institution:
- Economist Intelligence Unit
- Abstract:
- No abstract is available.
- Topic:
- Economy, Outlook, Forecast, and Country outlook
- Political Geography:
- Greece
40. Greece: 5-year forecast summary
- Publication Date:
- 05-2020
- Content Type:
- Country Data and Maps
- Institution:
- Economist Intelligence Unit
- Abstract:
- No abstract is available.
- Topic:
- Economy, 5-year summary, Forecast, and Forecast summary
- Political Geography:
- Greece
41. Spring 2020: The International Student Journey
- Author:
- Allan E. Goodman, Robert A. Scott, Gretchen Dobson, Meredith Doubleday, Darla K. Deardorff, Lindsay Addington, Peter Baker, Elisabeth Bloxam, Niki Kerameus, Jennifer Evanuik, and Reitumetse Obakeng Mabokela
- Publication Date:
- 03-2020
- Content Type:
- Special Report
- Institution:
- Institute of International Education
- Abstract:
- International students are a core part of any institution’s internationalization strategy. Beyond boosting enrollment numbers, institutions are increasingly focused on understanding what makes for a successful international student experience. In the Spring 2020 issue of the IIENetworker magazine, The International Student Journey, professionals from around the world share their strategies and perspectives on international student success from outreach and recruitment to the on-campus experience through to alumni initiatives. How do institutions recruit as the global landscape for international students has expanded? What can be done to ensure that your international students are as integrated on your campus as domestic students? And once they leave campus, does your relationship with these students end?
- Topic:
- Demographics, Education, Youth, Institutions, and Higher Education
- Political Geography:
- Greece, North America, and United States of America
42. Structural Shifts and Regional Security: A View from Israel
- Author:
- Ehud Eiran
- Publication Date:
- 04-2020
- Content Type:
- Working Paper
- Institution:
- Istituto Affari Internazionali
- Abstract:
- Israel is still holding to its traditional security maxim. Based on a perception of a hostile region, Israel’s response includes early warning, deterrence and swift – including pre-emptive – military action, coupled with an alliance with a global power, the US. Israel is adjusting these maxims to a changing reality. Overlapping interests – and perhaps the prospect of an even more open conflict with Iran – led to limited relationships between Israel and some Gulf states. These, however, will be constrained until Israel makes progress on the Palestine issue. Israel aligned with Greece and Cyprus around energy and security, which may lead to conflict with Turkey. Russia’s deployment in Syria placed new constraints on Israeli freedom of action there. The US’s retrenchment from the Middle East is not having a direct effect on Israel, while the Trump administration’s support for Israel’s territorial designs in the West Bank may make it easier for Israel to permanently expand there, thus sowing the seeds for future instability in Israel/Palestine. The EU could try and balance against such developments, but, as seen from Israel, is too divided to have a significant impact. Paper produced in the framework of the FEPS-IAI project “Fostering a New Security Architecture in the Middle East”, April 2020.
- Topic:
- Security, Foreign Policy, Defense Policy, Gas, and Hezbollah
- Political Geography:
- Russia, Iran, Middle East, Israel, Greece, Palestine, Saudi Arabia, Cyprus, United States of America, and Mediterranean
43. The Interests of Eastern Mediterranean States and Israeli Policies
- Author:
- Mitvim
- Publication Date:
- 02-2020
- Content Type:
- Working Paper
- Institution:
- Mitvim: The Israeli Institute for Regional Foreign Policies
- Abstract:
- This paper scans the interests and activities of Greece, Cyprus, Turkey and Egypt in the Mediterranean Basin – their varying and competing interests, their points of convergence and cooperation, and the challenges and opportunities for Israel. The paper is based on the main points raised at the third meeting of the working group on Israel in the Mediterranean, held in September 2019 in the Herzliya offices of the Friedrich-Ebert-Stiftung at the initiative of the Mitvim Institute, the Hebrew University’s Leonard Davis Institute for International Relations and Haifa University’s National Security Studies Center. The paper shines a spotlight on key elements in regional relationships and significant activity taking place in the Mediterranean Basin, which Israel must consider in formulating and executing policy. It is based on the presentations and discussions conducted at the event and does not reflect agreement among all participants.
- Topic:
- International Relations, Foreign Policy, and Economy
- Political Geography:
- Turkey, Middle East, Israel, Greece, Palestine, Egypt, Cyprus, and Mediterranean
44. Turkey-Greece Confrontation and Georgia: Threats and Challenges
- Author:
- Zurab Batiashvili
- Publication Date:
- 09-2020
- Content Type:
- Special Report
- Institution:
- Georgian Foundation for Strategic International Studies -GFSIS
- Abstract:
- Relations between Turkey and Greece have never been easy but since the summer of 2020, tensions between them rose sharply. If during June and July of 2020 the parties were arguing over the conversion of the Hagia Sophia Museum into a mosque, in August-September the center of controversy shifted to the Eastern Mediterranean and the Aegean Sea. Many unresolved issues have accumulated over the decades in this "space" - the problem of Cyprus, the problem of the separation of maritime economic zones (hence, the natural resources located there), the issue of 12 islands and airspace, the matter of ownership of uninhabited small islands and more. In addition, recently, one can observe increasingly aggressive rhetoric in both countries which creates the danger of small incidents escalating into a major military confrontation that, in turn, createsseriousthreats and challenges to regionalsecurity (including Georgia).
- Topic:
- Conflict Prevention, International Relations, Security, Economics, and Military Affairs
- Political Geography:
- Turkey, Caucasus, Greece, and Georgia
45. How ‘demos’ met ‘cracy’: debt, inequality, money
- Author:
- Andreas Antoniades and Ugo Panizza
- Publication Date:
- 03-2020
- Content Type:
- Working Paper
- Institution:
- Centre for Global Political Economy, University of Sussex
- Abstract:
- The recurrence of ever more destructive economic crises and patterns of pervasive indebtedness and inequality threaten the social fabric of our societies. Our main responses to these trends have been partial, focusing on symptoms rather than causes, often exacerbating rather than improving the underlying socio-economic dynamics. To reflect on these conditions and on ‘what needs to be done’ this paper turns to a similar socio-economic malaise faced by the city-state of Athens in the 6th century BC. Most historical studies dealing with this crisis focus on the comprehensive debt relief policy (seisachteia) implemented by Solon. We argue that this debt relief, although necessary, was the least important of Solon’s reforms. Solon read the problem of debt as a problem of money so he went on to reform the monetary and exchange system. But he did not think that these reforms alone could restore socioeconomic sustainability. For this, a redefinition of what was counted as valuable economic activity and as income had also to take place. And for all these to work, citizens had to be involved more in the commons. Far from only achieving socioeconomic sustainability, these reforms gave rise gradually to the demos that we meet in the golden age of Democracy. It is indeed interesting that Democracy, in its ideal type of the 5th century BC, finds its origin in the way in which a society responded to a major socioeconomic crisis, characterised by pervasive indebtedness and destabilising inequalities. Such a broader historical horizon may help us grasp better the problems, stakes and challenges of our times.
- Topic:
- Debt, Political Economy, History, Democracy, and Global Political Economy
- Political Geography:
- Greece and Global Focus
46. Turkey and Greece: pouring gas on the eastern Mediterranean dispute
- Author:
- Al Jazeera Center for Studies
- Publication Date:
- 09-2020
- Content Type:
- Policy Brief
- Institution:
- Al Jazeera Center for Studies
- Abstract:
- The Turkish-Greek conflict over maritime borders is unlike any other in the world. Not only does it involve potentially vast wealth under the seabed in the Aegean and the eastern Mediterranean, it relies on diverse and competing legal sources and interpretations.
- Topic:
- Oil, Bilateral Relations, Natural Resources, Maritime, and Borders
- Political Geography:
- Turkey, Greece, and Mediterranean
47. Education and wage inequalities in Greece: access to higher education and its effects on income
- Author:
- Pery Bazoti
- Publication Date:
- 02-2020
- Content Type:
- Working Paper
- Institution:
- Hellenic Foundation for European and Foreign Policy (ELIAMEP)
- Abstract:
- The educational system in Greece has always been at the center of public discourse, not only for the shortcomings of its design, but also for the quality of the education offered. In this context, during the last decades, the rise in wage inequalities had led the literature to investigate the existence of a possible causal relationship between the level of education and income inequality. The present paper by Pery Bazoti examines the relationship between tertiary education and economic inequality. Taking into consideration the fact that potential inequalities in access to education can hinder the redistributive role of education, the starting point of the study is the access to tertiary education. The design and flaws of the Greek education system prevent university candidates from equal opportunities since the entrance to tertiary education institutions relies heavily on the economic background of their families. The economic crisis highlighted these inequalities mainly through the decline of the disposable household income and exacerbated the already crippled abilities of the education system due to the extensive cuts that took place during this time. Nevertheless, the data reveals that private expenditure -typically related to students’ preparation for exams for entrance into university, despite its decrease, continues to have the larger share of the households’ education budget.
- Topic:
- Education, Reform, Inequality, and Public Policy
- Political Geography:
- Europe and Greece
48. Bank recapitalizations in Greece: From state-led bailouts to the ownership transfer of banks to foreign hands
- Author:
- Athanasios Kolliopoulos
- Publication Date:
- 05-2020
- Content Type:
- Working Paper
- Institution:
- Hellenic Foundation for European and Foreign Policy (ELIAMEP)
- Abstract:
- A decade after the conclusion of the first economic adjustment programme in 2010 and despite three consecutive recapitalizations, Greek banks still suffer from the highest Non-Performing Loans ratio in the Eurozone, with credit expansion in the “real economy” remaining anemic. Furthermore, the overall impact on public debt from government financial support to Greek banks over the last decade was one of the largest among the Eurozone countries. What went wrong? What were the reasons that the domestic financial system ended up in this exceptionally sad state? Why did the recapitalization policy not have the desired outcome? Exploring these questions throughout the literature of responses to banking crises, this paper shows that recapitalization policy in Greece failed to exploit the advantages of the principal forms of bank rescues. In fact, the significant inertia prevailing among authorities and bankers throughout the recapitalizations brought about the ownership transfer of the Greek banking system to foreign hands (“dehellenization”) after the third recapitalization in late 2015. You may acces the full paper by Dr. Athanasios Kolliopoulos, Postdoctoral Researcher at the Athens University of Economics and Business, here.
- Topic:
- Financial Crisis, Banks, Recapitalizations, Bailout, and Banking Crisis
- Political Geography:
- Europe and Greece
49. The Greek-Turkish Maritime Disputes: An International Law Perspective
- Author:
- Efthymios Papastavrdis
- Publication Date:
- 07-2020
- Content Type:
- Working Paper
- Institution:
- Hellenic Foundation for European and Foreign Policy (ELIAMEP)
- Abstract:
- This Policy Paper by Efthymios Papastavridis, Research Associate of ELIAMEP; Researcher and Part-time Lecturer, University of Oxford Fellow; Academy of Athens & Athens PIL Center, examines the maritime disputes between Greece and Turkey, in particular those concerning maritime delimitation and the breadth of the territorial sea of Greece, against the background of international law. It starts with setting out the historical and legal background of the continental shelf dispute in the Aegean Sea, in particular Greece’s applications before the International Court of Justice (ICJ) and the UN Security Council in 1976. Then, the paper considers the different legal positions of Greece and Turkey concerning the issues of the breadth of the territorial sea and the maritime delimitation and assesses these positions under international law. This assessment is followed by the discussion of the various means available under international law for the settlement of the maritime delimitation dispute under international law, in particular, its submission to the ICJ, which has often been at the front line of public and scholarly discourse. The paper concludes that international law provides a sufficient, clear and predictable legal framework for the resolution of the Greek-Turkish maritime dispute, which will be of the outmost benefit for both States and for the Eastern Mediterranean region as a whole.
- Topic:
- International Law, United Nations, and Maritime
- Political Geography:
- Europe, Turkey, Greece, Mediterranean, and Aegean Sea
50. It’s Time for a New Deal
- Author:
- Constantine Michalopoulos
- Publication Date:
- 01-2020
- Content Type:
- Policy Brief
- Institution:
- Hellenic Foundation for European and Foreign Policy (ELIAMEP)
- Abstract:
- The prospects of the Greek economy are mostly good with growth continuing for the fourth straight year. But there is a sense of disappointment, as the recovery has not been very strong and pre-crisis income levels will not be regained for another decade. There are two main reasons for the sluggish recovery: The European creditors have imposed on Greece the requirement to run a primary budget surplus of 3.5% of GDP for five years to ensure that they get repaid—a requirement that constricts growth of the Greek private sector—through heavy taxation of consumers and business. And domestic investment is sluggish, although there are plenty of unutilized resources, such as those provided by the European Structural Funds. There is a need for a new deal with the European Institutions: the Europeans should be more relaxed about getting repaid because of Greece’s much improved access to the European capital markets and be willing to accept a Greek government commitment to a significantly lower primary budget surplus for the next several years. In exchange the Greek government should commit to a commensurate increase in domestic investment through reforms of the banking sector as well as greater public sector investment spending.
- Topic:
- Government, Financial Crisis, Economy, Economic Growth, and Public Spending
- Political Geography:
- Europe and Greece
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