The Political Economy of the Greek Debt Crisis: A Tale of Two Bailouts

We review the events that led to the May 2010 and July 2011 bailout agreements. We interpret the bailouts as outcomes of political-economy equilibria. We argue that the second bailout was not on the Pareto frontier and sketch political-economy arguments for why this may be so.

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Year of publication:	2012-03
Authors:	Ardagna, Silvia ; Caselli, Francesco
Institutions:	Centre for Economic Performance, LSE
Subject:	debt crisis \| Greece \| political economics

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Series:	CEP Special Papers.
Type of publication:	Book / Working Paper
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010535363