Beyond Debt: The Greek Crisis in Context

Beyond Debt: The Greek Crisis in Context

How did Greece, with less than 3% of the population of the European Union, become the epicenter of Europeâ€™s â€œexistential crisis?â€ Why did Greece opt for an obligation-laden bailout rather default or leave the Eurozone, as many said it should? Could it have avoided the disappointments that followed, including needing a second bailout, holding repeat elections, and swearing in its fourth prime minister in a year?

The conventional narrative answered these questions by viewing the Greek crisis as the result of a â€œflawed currency union.â€ Many economists, moreover, thought Greece was foolish to seek a bailout rather than renege on its debts or leave the Eurozone. And as the crisis deepened, economists again blamed the international community for pushing â€œausterityâ€ onto Greece.

Beyond Debt offers a different account of this crisis. It sees it, first and foremost, as a Greek crisis, best understood through the lens of Greek history, politics and economics. The crisis was triggered by global events, but it was not caused by them. As the book shows, Greeceâ€™s chosen pathâ€”a bailoutâ€”made infinitely more sense than either a default or the abandonment of the common currency that many economists called for. And while others see â€œausterityâ€ as the problem for Greeceâ€™s woes after the bailout, Beyond Debt blames instead an indecisive government that could not see reform through to the end.
Country USA
Manufacturer CreateSpace Independent Publishing Platform
Binding Kindle Edition
ReleaseDate 2013-03-29
Format Kindle eBook

Country	USA
Manufacturer	CreateSpace Independent Publishing Platform
Binding	Kindle Edition
ReleaseDate	2013-03-29
Format	Kindle eBook

Beyond Debt: The Greek Crisis in Context

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