Debt Overhang is a controversial issue in the eurozone countries and is considered as one of the factors which created the current economic crisis. How to deal with sovereign debt has been debated both at the theoretical and policy making level. This paper looks at the Greek debt and four...

Greece has the largest underground economy in the eurozone and one of the largest in Europe and the OECD countries. On the other hand, Greece is notoriously known for its sizable and widespread tax evasion primarily because of the large number of self employed and its wide geographical...