21 Sep 2015

The Greek elections and the third bailout programme: Why it could work this time round

Cinzia Alcidi / Daniel Gros

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Authors: Cinzia Alcidi and Daniel Gros

Series: CEPS Commentary  No of pp: 3

Following the decisive victory won by the Syriza party in Greece’s general election on September 20th, this commentary explores the key question of whether the third bailout programme can work, where the previous two programmes failed. Whereas most observers argue that the third one cannot work because it merely represents a continuation of an approach that has manifestly failed, the authors argue that a closer inspection of the conditions today give grounds for cautious optimism.

Cinzia Alcidi is LUISS Research Fellow at CEPS and Head of the Economic Policy research unit. Daniel Gros is Director of CEPS. An earlier version of this commentary was published by Italian Institute for International Political Studies (ISPI), 18 September 2015, at www.ispionline.it/en/pubblicazione/greek-bailout-why-it-could-work-now-13858