The three main protagonists in the Greek economic crisis, the Greek government, the IMF and the Eurozone partners ignored known lessons of how to deal with debt problems and committed policy errors that unnecessarily prolonged the crisis. This short note discusses the options for debt relief and restoration of creditworthiness at the end of the third bailout, which is soon approaching, and makes recommendations for Greek government policy that would promote viable, inclusive economic growth for the long term.
Click here to read the ELIAMEP Thesis “Greek Crisis: The End Game and Beyond“
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Constantine Michalopoulos
Senior Policy Advisor; former senior official World Bank and USAID; Adjunct Professor, American University, School of Advanced International Studies, Johns Hopkins University