Despite the dramatic worsening of the ratio of the (Greek) public debt over GDP, the risk of delaying and masking the problem is great- and the consequences of its appearance may be once more, very disappointing. It is a fact that the analysis of the debt service and, by extension, the identification of appropriate forms of restructuring depends on, often contradictory in their financial and political-economic essence, methodological options. However, the chance of an effective restructuring of the Greek public debt within the Eurozone, in the context of the (under certain circumstances) imminent negotiation, is hindered by legal constraints and the weak political will of the Greek partners/ creditors.
Aspects of the political economy of the Greek debt
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