, notably Nobel Prize winner and New York Times columnist Paul Krugman, who claimed that Greece suffered from austerity. Because …This paper discusses why Greece has done so poorly in comparison with all other European Union countries since the … onslaught of the global financial crisis in 2008. To show what was wrong with its fiscal adjustment, this paper compares Greece …

reforms, nor are Southerners willing to invest in their countries in a climate of austerity and policy uncertainty imposed, in … especially Greece - to a much happier future, and promote the chances for more balanced economic performance in North and South. …

Drawing on an analysis of austerity reforms in Greece and Portugal during the sovereign debt crisis from 2009 onwards … depends on their ability to control state budgets to reward clients. In Greece, where parties relied extensively on these … clientelistic linkages, austerity reforms have been characterised by recurring conflicts and disagreements between the main parties …

progressivist democracy and its program of continually extending the reach of politics into society. The avoidance of that danger … it resides in the morphing of a constitutional system of limited democracy into one of progressivist or oligarchic … democracy. The clear and present danger is that the present crisis will end up strengthening the conservative forces of …