This paper considers the benefits to Greece, the Euro zone and the rest of the world arising from policies that prevent … a Greek default and exit from the Euro, compares these benefits with the costs of the preventive policies and concludes … that the benefits exceed the costs. The rational case for policies to save Greece, however, may lose out to unpredictable …

. Greece joined the EU on January 1, 2001, adopting the Euro at a conversion rate of 340.75 Drachmas per Euro.From 1995 … disadvantaged by EU membership, by switching to the Euro, and by subsequent austerity measures; or (2) Greece accumulated excessive … rate that would have prevailed if Greece had not adopted the Euro. Under a Drachma regime, I assume that Greek policymakers …

macroeconomic policies in Greece are considered. The model's mechanism and assumptions allow either for a Grexit from the euro area …Against the backdrop of the Greek three-act tragedy, we present a theoretical framework for studying Greece’s recent … debt and currency crisis. The model is built on two essential blocks: first, erratic macroeconomic policymaking in Greece …

Aim/purpose - The aim of this paper is to present two cases of crises in Greece and Italy and to evaluate the shadow … sample covers Greece in 1989-2020 and Italy in 1989-2020. Findings - The research presented the estimation of shadow exchange … rates EUR/GRD and EUR/ITL during the euro zone membership period. Leaving the euro area one can expect the following market …

This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the … growth in Greece and discusses the role of conditionality. Finally, the important role of mid-left parties is highlighted. …

sovereign bailouts -- in the euro-area that would have reduced members’ external imbalances. This situation contrasts sharply …

example has been cruelly shaken by the EZ (Euro Zone) crisis, originating increasing doubts about the integration process. It … periphery countries, but surely they will drive Euro Area as a whole to stagnation and lost decades of economic growth, if not … to its disintegration. Considering the debt crisis as a problem of the PIIGS (Portugal, Ireland, Italy, Greece, Spain …

This article looks at the evolution of the Target balance of the Greek central bank. It is shown that in the first 18 … spring 2010 onwards, there has been a slowburning bank run. Greek depositors converted their deposits into cash or … to the immediate failure of Greek banks and economic standstill in Greece. In this situation, the Eurosystem has …

The present paper examines the impact of the current fiscal crisis in the euro area on the Greek banking system and the … in the euro area on the Greek banking system and the measures adopted to safeguard its stability from 2008 (amidst the … fiscal crisis in the euro area). (b) The following Section 2 overviews the main elements of the current institutional …

nations like the EU or the EMU can legally expel a member — Greece being the most obvious candidate. The EU, for example, has …