So What Now?

For two decades and more, the European Union has been trying to get ‘ownership’ for structural reform in Greece.

Spending has been savagely throttled back. But there is no click, no reset, no moment on the road to Damascus, where the Greek government and Greek society ‘gets’ the need to change.

1st Annual GPPF Forum 2012: Executive Summary

“Unfolding the Layers of the Crisis: the Nation-State, Europe, and the World”

1st Annual GPPF Chania Forum, 21-22 September 2012

Executive Summary

The third event organized by the Greek Public Policy Forum took place on September 21 and 22 at the Kiani Beach Resort in Chania, Greece. It was kindly sponsored by Decidendi Consultants, the Economic Chamber of Western Crete, and the Regional Development Fund of Crete. The Chania Forum tried to build upon the foundations laid by the two previous Fora at Oxford (June 2011) and Nottingham (March 2012). The Oxford Forum focused on Greece’s multifaceted crisis (economic, political, and social). The Nottingham Forum tried to examine the Greek crisis in its European context.

Συζήτηση για την κρίση στην Ελλάδα και τις προοπτικές εξόδου από αυτή: LSE 2012

Η Κρίση στην Ελλάδα κι οι Προοπτικές Ανάκαμψης

Συζήτηση για την κρίση στην Ελλάδα 

και τις προοπτικές εξόδου από αυτή

London School of Economics

11 Σεπτεμβρίου 2012

Στις 11 Σεπτεμβρίου 2011 to Ελληνικό Φόρουμ Δημόσιας Πολιτικής συνδιοργάνωσε στο London School of Economics συζήτηση με θέμα την ελληνική κρίση. Το πρώτο μέρος της συζήτησης είχε ως θέμα (α) ποιο θα πρέπει να είναι το μακροπρόθεσμο “όραμα” για την ελληνική οικονομία και κοινωνία, και (β) τι εμποδίζει την εξέλιξη προς αυτό και ποιοι τρόποι υπάρχουν για να αρθούν τα εμπόδια. Έγιναν παρεμβάσεις από ένα πάνελ τεσσάρων ομιλητών το οποίο συντόνισε ο Δημήτρης Βαγιανός, και στη συνέχεια έγιναν ερωτήσεις προς τους ομιλητές. Το δεύτερο μέρος της συζήτησης, το οποίο συντόνισε ο Νικήτας Κωνσταντινίδης, είχε ως θέμα το πώς οι Έλληνες του εξωτερικού θα μπορούσαν να συμβάλλουν στην επίλυση της κρίσης. H εκδήλωση έγινε υπό την αιγίδα του Ελληνικού Παρατηρητηρίου (Hellenic Observatory) του LSE.

Discussion about the Greek crisis and its possible resolutions: LSE 2012

Discussion about the Greek crisis and its possible resolutions

London School of Economics

11 September 2012

On 11 September 2012 the Greek Public Policy Forum co-organised a discussion at the London School of Economics about the Greek crisis. The first part of the discussion focused on (a) what should be the long-term “vision” for Greek economy and society, and (b) what obstacles are preventing the evolution towards that vision and what ways exist to circumvent them. There were four talks by a panel of speakers, which was chaired by Dimitri Vayanos, followed by a Q&A session. The second part of the discussion, chaired by Nikitas Konstantinidis, focused on how diaspora Greeks could help with the resolution of the crisis. The event took place under the auspices of the Hellenic Observatory at the LSE.

Αμαρτίες γονέων τέκνα παιδεύουσι: passing on debt overhang

For a pdf version of the paper, containing the relevant figures, please click here.

What follows is an outline of the Greek sovereign debt crisis from a perspective that is certainly not mainstream - at least not in the sense of what every major political, economic, and media outlet loves to hate nowadays. For my interpretation as to how the crisis came about will be neither structural nor cultural. Of course, national economies do grow or decline because of social and economic substructures, political institutions, and cultural traits. Yet, these refer to long-term processes whereas serious sovereign debt crises usually evolve over relatively short (often too short) periods of time. Sovereign bankruptcies, much like those of large private companies, occur because three unfortunately too human factors are allowed to carry the day in the highest echelons of strategic decision-making. These are irresponsible greed, incompetence, and irrationality (a term which many a time is meant more as an euphemism for stupidity).