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The Greek Debt Crisis: Suggested Solutions and Reforms

Author

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  • Leo Michelis

    (Ryerson University; The Rimini Centre for Economic Analysis (RCEA))

Abstract

This paper examines eight suggested solutions to the Greek debt crisis and six political and institutional reforms in order to achieve a single objective: eliminate deviations from the EU benchmark and thus transform the country into a modern EU state. In the absence of a national political consensus to tackle the debt crisis and implement political and institutional reforms, a new political force should be formed to accomplish these tasks, and also embrace the "frustrated" or "Facebook" generation's demands for better living standards and more equitable income distribution.

Suggested Citation

  • Leo Michelis, 2011. "The Greek Debt Crisis: Suggested Solutions and Reforms," Professional Reports 01_11, Rimini Centre for Economic Analysis.
    • Handle: RePEc:rim:rimpre:01_11
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    File URL: http://www.rcea.org/RePEc/pdf/pr01_11.pdf
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    Citations

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    Cited by:

    1. Sotirios Theodoropoulos, 2012. "Borrowing Cost as a Crucial Factor for Sustainable Fiscal Consolidation & for Exiting the Current Crisis," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 141-154.
    2. Eftychia Nikolaidou, 2016. "The role of military expenditure and arms imports in the Greek debt crisis," Economics of Peace and Security Journal, EPS Publishing, vol. 11(1), pages 18-27, April.

    More about this item

    Keywords

    Debt crisis; bank runs; euro zone; economic reforms; political reforms;
    All these keywords.

    JEL classification:

    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • F15 - International Economics - - Trade - - - Economic Integration
    • P48 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies

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