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Greece in the 21st Century: The Politics and Economics of a Crisis (Europa Country Perspectives)
by Vassilis K. Fouskas Constantine DimoulasFor most of the first part of the 21st century Greece has been seen as a critical battlefield for the survival of the powerful and the adjustment or extinction of the weak, as if all the historical contradictions of the global financial crisis and the eurozone crisis were concentrated in that tiny part of the world, with a population of just 11 million people and a GDP of less than 2% of that of the European Union as a whole. While the country has been overpowered by the disciplinarian and deeply authoritarian policy mix of ordoliberal/neoliberal rules, as this book attempts to show, there is hope. Defeat does not end the crisis, and crisis means constant opportunity. In this state of affairs, all types of agencies try to take advantage of the conditions and opportunities in order to advance towards positions of power and provide the best of solutions for the class interests they represent. Thus, harsh conflict is inevitable and if history provides a yardstick, it is that in periods of conflict and crisis, the winner, usually, is the one who manages to strike the right political and social alliances at the right time. The editors have assembled in this volume a number of interdisciplinary chapters and arguments which, despite their differences, share the strategic aim of a critique of both neoliberalism/ordoliberalism and new authoritarianism. Chapters examine the eurozone crisis from a variety of angles with reference to Greece, and Greek politics and society. With this collection of heterodox and scholarly essays, the authors and editors aim to offer a progressive understanding of current historical circumstances. Constantine Dimoulas is an Assistant Professor in social administration and evaluation of social programmes at Panteion University, Greece. Vassilis K. Fouskas is Professor of international politics and economics at the University of East London, UK, and the founding editor of the Journal of Balkan and Near Eastern Studies (Taylor & Francis).
Greece's Debt: Sustainable?
by George SerafeimThe case "Greece's Debt: Sustainable?" describes the Greek economic crisis, bailout from the European Union and the International Monetary Fund (IMF), and the debt restructuring that followed. Because of a lack of trust in Greece's ability to repay its debt, two programs were organized that provided financial assistance to Greece. This was followed by a debt restructuring that provided debt relief to Greece through a combination of lowering interest rates, lengthening debt maturity, and rebates on interest and principal. The case outlines how International Financial Reporting Standards (IFRS), U.S. GAAP, and International Public Sector Accounting Standards (IPSAS) define accounting for debt and describes the controversy that existed around the proper valuation of Greece's debt. Because Greece had not adopted accrual accounting, its debt was reported in face value terms, according to the Maastricht treaty. This was in contradiction to accounting practices that prescribed fair valuation of debt in line with market prices or present value techniques. The case ends with a series of questions that steer the discussion towards the importance of accrual accounting and valuation of debt. Did Greece have too much debt and as a result a solvency problem? Should Greece push lenders to take a haircut on the debt? Were the austerity measures really necessary? Or did Greece have too little debt, therefore allowing the country to avoid austerity measures, increase spending, and spark growth?
Greece's Horizons
by Pantelis Sklias Nikolaos TzifakisThe Greek economic crisis has imperilled the stability of the eurozone, generating much global anxiety. Policymakers, analysts, and the media have daily debated the course of the Greek economy, prescribing ways to move forward. This collection of essays progressively moves from an analysis of the causes of the crisis and the policy responses so far to a debate on some of the countryʼs advantages and capabilities that should underpin its new development model and propel the return to growth. The book analytically chooses to view the glass as half-full and seeks to provide motivation and inspiration for change by indicating some of the economic sectors where Greece maintains a comparative advantage. Therefore, it challenges the emerging picture of Greece as a country doomed to failure, where everything falls apart.
Greece, Financialization and the EU
by Vassilis K. Fouskas Constantine DimoulasThe debt crisis in Greece has sparked lively debates about the origins of the crisis and policy measures to be adopted in order to fix it. The authors offer the first original and comprehensive narrative on Greece.
Greece: Selected Issues
by International Monetary FundA report from the International Monetary Fund.
Greece: Selected Issues (Imf Staff Country Reports #Country Report No. 13/155)
by International Monetary Fund. European Dept.A report from the International Monetary Fund.
Greece: Selected Issues (Imf Staff Country Reports #Country Report No. 13/155)
by International Monetary Fund. European Dept.A report from the International Monetary Fund.
Greece: Selected Issues (Imf Staff Country Reports #Country Report No. 13/155)
by International Monetary Fund. European Dept.A report from the International Monetary Fund.
Greece’s (un) Competitive Capitalism and the Economic Crisis: How the Memoranda Changed Society, Politics and the Economy
by Spyros SakellaropoulosThis book reviews the profound transformation to the Greek political economy in recent years and considers the reasons that have led to this transformation. Further, the author explores the social experimentation and social diversity that evolved as a result of the Greek and international economic crises. By challenging various assumptions made about the crisis, the author sheds light on Greek social relations and the country’s particular type of capitalist development.This book will be of value to both economists and sociologists, linking discussions about social class with economic, political and institutional analyses.
Greed
by Stephen Barber Alexis BrasseyFor all of the technical explanations for meltdown in the financial markets during the banking crisis, the most readily accepted and almost universal explanation is the single word 'greed'. This is a subject which can at once be seen as the disease at the heart of society and the motivating force behind the progress of mankind.
Greed Gone Good: A Roadmap to Creating Social and Financial Value
by Jane Elizabeth HughesGreed Gone Good: A Roadmap to Creating Social and Financial Value brings the how-tos of impact finance to a broad- based audience of investors, from the individual to the institutional. Written in an engaging, jargon-free style and loaded with practical advice, it explores the pitfalls and potential of the burgeoning impact revolution—the increasingly widespread belief that business and financial leaders should weigh social value as well as financial value in all of their decisions, to create both a better business model and a better world. Cheerleaders have written a number of books advocating the magic of impact finance. Greed Gone Good hopes for the magic too, but also believes that an uncritical eye does not effectively advance the cause. We now have 10 years of impact investing history to examine, and not all of it is laudable. We could hold hands and sing Kumbaya in praise of impact finance; or we could employ constructive criticism to figure out what’s gone well and what hasn’t, and how we should move forward more productively. Greed Gone Good focuses on the roadmap—how to reorient and repackage finance and investing in order to deliver on this promise. In particular, it focuses on how to realize the potential of the impact revolution to become a silver bullet against future failures. Green Gone Good will have widespread appeal to investors ranging from individuals and family offices to the world’s largest asset managers and investors.
Greed Is Dead: Politics After Individualism
by Paul Collier John KayTwo of the UK's leading economists call for an end to extreme individualism as the engine of prosperity 'provocative but thought-provoking and nuanced' TelegraphThroughout history, successful societies have created institutions which channel both competition and co-operation to achieve complex goals of general benefit. These institutions make the difference between societies that thrive and those paralyzed by discord, the difference between prosperous and poor economies. Such societies are pluralist but their pluralism is disciplined.Successful societies are also rare and fragile. We could not have built modernity without the exceptional competitive and co-operative instincts of humans, but in recent decades the balance between these instincts has become dangerously skewed: mutuality has been undermined by an extreme individualism which has weakened co-operation and polarized our politics.Collier and Kay show how a reaffirmation of the values of mutuality could refresh and restore politics, business and the environments in which people live. Politics could reverse the moves to extremism and tribalism; businesses could replace the greed that has degraded corporate culture; the communities and decaying places that are home to many could overcome despondency and again be prosperous and purposeful. As the world emerges from an unprecedented crisis we have the chance to examine society afresh and build a politics beyond individualism.
Greed and Glory on Wall Street: The Fall of the House of Lehman
by Ken AulettaThe inside account of a financial meltdown that reshaped Wall Street In 1983, Lew Glucksman, then co-CEO of the heralded investment bank Lehman Brothers, demanded the resignation of chairman Pete Peterson, with whom he had long argued over how to manage the company. Shockingly, Peterson, who had taken charge a decade earlier and led Lehman from near collapse to record profits, agreed to step down. In this meticulously researched volume, Ken Auletta details the turmoil, infighting, and power struggles that brought about Peterson's departure and the eventual sale of one of Wall Street's oldest and most prestigious firms. Set against the backdrop of the 1980s stock exchange, where hotshot young traders made and lost millions in a single afternoon, the story of Lehman's fall is a suspenseful battle of wills between bankers, traders, and executives motivated by greed, envy, and ego. Auletta, who conducted hundreds of hours of interviews and was granted access to private company records, has crafted a thorough, enduring, and engaging account of pivotal events that continued to influence this storied financial institution until its ultimate demise in 2008.
Greed, Inc.: Why Corporations Rule the World and How We Let It Happen
by Wade RowlandWhy is it that multinational drug companies hide or falsify unfavorable results? Why do automakers knowingly sell us unsafe cars? Why is big business allowed to poison our environment-and us? Why is our food so unhealthy, with obesity growing at such an alarming rate? Why are we working such long hours and enjoying life less? This timely and important book places the blame for much of what ails contemporary society squarely on one institution: the modern publicly traded corporation, which enjoys the legal status of an individual but does not seem bound by the same legal and moral responsibilities, or, in fact, by its nature that is brutally and implacably selfish.While recognizing the positive contributions corporations have made over the past two centuries to science, technology, and medicine, Rowland examines the greed at the core of it all and pinpoints what went wrong and how we can free ourselves from the "Greed is good" syndrome.
Greed, Self-Interest and the Shaping of Economics (Routledge Studies in the History of Economics)
by Rudi VerburgSince 2008, profound questions have been asked about the driving forces and self-regulating potential of the economic system, political control and morality. With opinion turning against markets and self-interest, economists found themselves on the wrong side of the argument. This book explores how the past of economics can contribute to today’s debates. The book considers how economics took shape as philosophers probed into the viability of commercial society and its potential to generate positive-sum outcomes. It explains how dreams of affluence, morality and happiness were built upon human greed and vanity. It covers the bumpy road of the construction and reconstruction of this dream, exploring the debate on the foundations, conditions and limitations of the idea of the social utility of greed and vanity. Revisiting this debate provides a rich source of ideas in rethinking economics and the basic beliefs concerning our economic system today.
Greedy Bastards
by Dylan RatiganThe host of the eponymous MSNBC show, Dylan Ratigan offers a bold and original post-partisan program to resuscitate the American Dream. At a time of deep concern with the state of America's economy and government, it seems that all the media can give us is talking (or screaming) heads who revel in partisan brinkmanship. Then there's Dylan Ratigan--an award-winning journalist respected and admired across the political spectrum. In Greedy Bastards, he rips the lid off of our deeply crooked system--and offers a way out.Employing the nuanced reporting and critical analysis that have earned him so much respect, Ratigan describes the five "vampires" that are sucking the nation dry, including an educational system that values mediocrity above all else; a healthcare system that is among the priciest and least-effective infrastructures in the industrialized world; a political system in which lobbyists write legislation; a "master-slave" relationship with our Chinese bankers; and an addiction to foreign oil that has sapped our willingness to innovate. In offering solutions to these formidable and entrenched obstacles, he does nothing less than lay the groundwork for a political movement dedicated to tackling the rot at the heart of the country. In its desperation, America needs more than just endless stock tips and Wall Street navel-gazing. It needs passionate debate and smart policy--and a hero to take on the establishment. Dylan Ratigan is that hero, and this is the book that will rally people behind him. make it right.
Greek Banking
by Fotios PasiourasFrom a period of growth and considerably high levels of profitability, Greek banks recently found themselves battling a major decrease in demand in the local market, and an increase in non-performing loans. How is the Greek banking system able to survive the crisis? This is discussed by looking at the last 15 years of the Greek banking system.
Greek Capitalism in Crisis: Marxist Analyses (Routledge Frontiers of Political Economy)
by Stavros MavroudeasDespite the depth of the Greek crisis, the exorbitant burdens placed upon the working people and the massive popular resistance movement to capitalist policies, there is a definite lack of consistently Marxist analyses of the Greek problem. International debates regarding the Greek crisis have been dominated by orthodox (Neoclassical and neo-Keynesian) approaches. The heterodox side of these debates has been occupied by Radical Political Economy approaches (usually radical post-Keynesian or Marxo-Keynesian perspectives). Moreover, they are dominated by the ‘financialisation’ thesis which is quite alien to Marxism, neglects the sphere of production and professes that the global crisis is simply a financial crisis that has nothing to do with ‘real’ accumulation and the profit rate. This book argues that by emphasising the sphere of production and profitability, classical Marxist analysis better explains the Greek crisis than its orthodox and heterodox competitors. The contributors present critiques of the prevalent approaches and offer studies of the Greek crisis that use the methodology and the analytical and empirical tools of classical Marxist Political Economy. In particular, it is shown that the Greek crisis was caused by falling profitability and the ensuing overaccumulation crisis. The ‘broad unequal exchange’ existing between the euro-center and the euro-periphery contributed to Greek capital’s falling profitability. This book enriches the debate about the Greek economic crisis by demonstrating the insights that can be drawn by considering the Marxist alternative to the dominant mainstream and heterodox approaches.
Greek Culture After the Financial Crisis and the Covid-19 Crisis: An Economic Analysis (The Political Economy of Greek Growth up to 2030)
by Panagiotis E. Petrakis Pantelis C. Kostis Dionysis G. Valsamis Kyriaki I. KafkaThis book studies the evolution in human thought, action, and behavior as a result of the 2008 fi nancial crisis and the Covid-19 crisis. Through the presentation and analysis of data, as recorded for at least a decade, and using the Greek economy as a case study, the authors examine the changes in social and human capital, increasingly risk-averse behavior, and changes in people’s general psyche and economic action in Greek society and economy.
Greek Foreign Trade and Finance: The Mixed Blessings of Economic Dependence (Palgrave Studies in Economic History)
by Constantine MichalopoulosThis book examines the role of international trade and finance in the Greek economy since the beginnings of the Greek state two centuries ago to the present day. It focuses on the benefits and challenges of Greece&’s economic dependence on the larger and higher income countries of Western Europe, and in particular the European Union, have played in its economic development. The volume begins by examining Greece&’s links to Europe in the 19th century and its desultory participation in the Latin Monetary Union. Its main focus is the post- World War II period, starting with Greece&’s efforts to establish sustainable economic growth, at a time when the country was facing severe foreign exchange constraints and relied on assistance from the US under the Marshall Plan. It then examines relations between Greece and the European Community, particularly on its efforts to integrate into the European Union, the debt crisis and the reforms and recovery in its aftermath. The book details in accessible and engaging style how the story of Greece&’s economic integration in Europe has involved both successful development but also failures by Greek, Eurozone and IMF policymakers. With valuable historical insights, this book will be of interest to academics and policymakers in Greece, the EU and emerging economies weighing economic integration. It will also be of interest to economic historians and political economists more broadly.
Greek and Roman Networks in the Mediterranean
by Irad Malkin, Christy Constantakopoulou and Katerina PanagopoulouHow useful is the concept of "network" for historical studies and the ancient world in particular? Using theoretical models of social network analysis, this book illuminates aspects of the economic, social, religious, and political history of the ancient Greek and Roman worlds. Bringing together some of the most active and prominent researchers in ancient history, this book moves beyond political institutions, ethnic, and geographical boundaries in order to observe the ancient Mediterranean through a perspective of network interaction. It employs a wide range of approaches, and to examine relationships and interactions among various social entities in the Mediterranean. Chronologically, the book extends from the early Iron Age to the late Antique world, covering the Mediterranean between Antioch in the east to Massalia (Marseilles) in the west. This book was published as two special issues in Mediterranean Historical Review.
Greeks of the Merrimack Valley (Images of America)
by E. Philip Brown Elaine KevgasThe Merrimack Valley became home to Greeks after the great immigration to the United States in the 19th and 20th centuries. After its independence from the Ottoman Empire in 1832, Greece had inadequate resources for its citizens, which led to much hardship. Many of these refugees came to the Merrimack Valley in search of a better living. They settled in Haverhill, Lawrence, and Lowell, Massachusetts, or Concord, Manchester, and Nashua, New Hampshire, where they secured jobs in factories and mills. Those who were unable to gain employment in the manufacturing industries went into the service sector; others became self-sufficient, building restaurants, shoe shops, and grocery stores. Although they suffered discrimination because of their distinct language and culture, they were not deterred; instead, they remained focused, went about their activities in peace, and contributed immensely to the socioeconomic development of their newfound home.
Greeley Hard Copy: Portable Scanner Initiative (A)
by Michael L. Tushman Daniel B. RadovHewlett-Packard's Greeley Hard Copy Division is the market leader in the production of desktop flatbed scanners for personal computers. The division has been working to develop a portable scanner product for the past five years with mixed results. The new general manager, Phil Faraci, faces mounting pressures in the flatbed scanner markets, but is also presented with a new technology that has the potential to be a breakthrough for portable scanners. Faraci must decide whether or not to pursue the new portable technology, and if so, how to structure the organization to make product development successful where it has failed in the past.
Greeley Hard Copy: Portable Scanner Initiative (B)
by Michael L. Tushman Daniel B. RadovSupplements the (A) case.