The Greek Debt Crisis: In Quest of Growth in Times of Austerity

Description

This book sheds new light on the Greek economic challenges and helps readers understand the current debt crisis. Chapters from leading experts in the field identify and outline potential solutions to the on-going decline of the Greek economy by considering both Eurozone-adopted current policy framework explanations and potential alternative explanations. In contrast to the standard chronological approach toward the Greek debt crisis typically adopted by other texts, this book draws on the experience and views of specialized economists and offers divergent opinions that could potentially form alternative solutions. It will be of interest to researchers and academics interested in the Greek economy, modern financial modelling, and risk management. Front Matter ....Pages i-xvi When Did It Go Wrong? The Case of Greek Sovereign Debt (Vasilis Sarafidis, Anastasios Panagiotelis, Theodore Panagiotidis)....Pages 1-35 Asymmetry, Austerity and Anxiety: The Approach to the Greek Debt Crisis (Giannoula Karamichailidou, Dimitris Margaritis, David G. Mayes)....Pages 37-83 Debt Supercycle in Greece and Secular Stagnation in the Eurozone: Implications for Policy (Dimitris G. Kirikos)....Pages 85-108 The Effects of the Financial Crisis on the Creditworthiness of Banks (Anestis C. Ladas, Christos I. Negκakis, Angeliki D. Samara)....Pages 109-128 On the Split of Social Security Contributions Between Funded and Pay-as-You-Go Pension Schemes; Contribution to Growth (Thomas Poufinas, Effrosyni Kouskouna)....Pages 129-152 The Role of Sovereign CDS Spreads for Stock Prices: Evidence from the Athens Stock Exchange Over a ‘Default’ Period (Nicholas Apergis)....Pages 153-175 History of Greece’s Debt Crisis and the Banking Policy (Alexandros Garefalakis, Christos Lemonakis, George Alexopoulos, Efthalia Tabouratzi)....Pages 177-187 The Market Reaction on Ex-return of Capital Dates During Financially Constraint Periods (Apostolos Dasilas)....Pages 189-217 The Impact of Greek Economic News on European Financial Markets. Evidence from the European Sovereign Debt Crisis (Dimitrios I. Vortelinos, Konstantinos Gkillas (Gillas), Christos Floros)....Pages 219-283 Innovation and SMEs Financial Distress During the Crisis Period: The Greek Paradigm (Christos Lemonakis, Alexandros Garefalakis, Grigoris Giannarakis, Efthalia Tabouratzi, Constantin Zopounidis)....Pages 285-308 Back Matter ....Pages 309-313