The GrExit Paradox. Koutsoukis, N. & Roukanas, S. Procedia Economics and Finance, 9:24–31, 2014. doi abstract bibtex In this paper we consider whether the potential of Greece’s exit (GrExit) from the Eurozone has an impact on Greece’s economic adjustment program and vice versa. In particular, we ask the question whether the “GrExit” discussion is leading into a Catch-22 situation: Greece is expected to default if it does not follow through with the economic adjustment program, when, at the same time, the economic adjustment program appears to be an unsustainable strategy for reversing the Greek economic downfall. Our findings are based on analyzing the literature regarding (a) the possibility and consequences of a Greek exit from the Eurozone, (b) the viability of the Greek economy given the adjustment program, and (c) the magnitude of the discussion regarding Greece’s troubled economy before and during the crisis period.
@article{koutsoukis_grexit_2014,
title = {The {GrExit} {Paradox}},
volume = {9},
issn = {1877-0428},
doi = {http://dx.doi.org/10.1016/S2212-5671(14)00005-7},
abstract = {In this paper we consider whether the potential of Greece’s exit (GrExit) from the Eurozone has an impact on Greece’s economic adjustment program and vice versa. In particular, we ask the question whether the “GrExit” discussion is leading into a Catch-22 situation: Greece is expected to default if it does not follow through with the economic adjustment program, when, at the same time, the economic adjustment program appears to be an unsustainable strategy for reversing the Greek economic downfall.
Our findings are based on analyzing the literature regarding (a) the possibility and consequences of a Greek exit from the Eurozone, (b) the viability of the Greek economy given the adjustment program, and (c) the magnitude of the discussion regarding Greece’s troubled economy before and during the crisis period.},
journal = {Procedia Economics and Finance},
author = {Koutsoukis, Nikitas-Spiros and Roukanas, Spyros},
year = {2014},
keywords = {To appear},
pages = {24--31},
}
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