The Greek government budget situation plays a central role in the debt crisis in the euro area. Strong consolidation measures need to be implemented, with potential adverse effects on the Greek economy and further credit requirements. Debt conversion might therefore become a reasonable...

Austerity measures alone will not suffice to generate the growth needed for recovery in Greece, Portugal, Spain and Italy. A European Recovery Programme is necessary to stimulate growth through structural reforms and fiscal stimulus. This contribution describes policy areas where non-fiscal...

The effects of development aid programmes on the domestic economy of donors are relatively infrequently examined. This study reviews the impact of the United Kingdom's Development Aid Programme on the British economy over the period 1975-79 with particular attention to employment creation and...