Greece: The endgame?
With the first review of the latest bailout package for Greece dragging on, it is reasonable to ask: Is this the Greek endgame? Professor of Economics and former Greek Minister of Finance Nicos Christodoulakis did more than that when launching his recent book, Greek Endgame – From austerity to growth or Grexit?, on February 9th at CEPS. The book provides both a thorough review of economic developments leading to the Greek malaise as well as directions for getting through this challenging period. How to accomplish the latter is, of course, a controversial matter. Two issues in particular drew questions and discussion from the floor: the call for Greek consensus and collective ownership of the reform agenda, and the need to bring back investment. Much would be achieved if both of these objectives could be met. Alas, neither the author nor the audience was convinced that this would be the outcome of the current process. And, this was before the refugee situation entered the equation.