This paper reviews the novel policy measures developed by the EU to deal with insolvent member states and assesses their impact on Greece's political economy. Greece represents a major test case as a recipient of two bailout loans plus debt relief from private creditors. The paper examines the...

Recent research into weak productivity performance since the financial crisis has highlighted the importance of the gap between the most productive firms and the rest. While wage compression may only be one possible mechanism to promote the relative growth of productive firms, it does appear to...