Greece and Portugal: Similar fundamentals but different outcomes?
Gros, Daniel. While acknowledging that Portugal is far from being in the same dire straits as Greece in terms of its levels of public debt and deficit, Daniel Gros points out in this Commentary that excess private consumption is Portugal’s real problem. And if this problem is not addressed, he warns that the eurozone might […]
For Whom The Bailout Tolls
Hugh, Edward. “On an optimistic view, that a deal was struck implies that neither side was ultimately willing to risk a Greek exit because they recognise that no one fully understands all the ramifications of such a decision. Under this scenario, when pressure again builds, the authorities will do the same: let Greece remain in […]
Modern Monetary Theory, an unconventional take on economic strategy
Matthews, Dylan. About 11 years ago, James K. “Jamie” Galbraith recalls, hundreds of his fellow economists laughed at him. To his face. In the White House. It was April 2000, and Galbraith had been invited by President Bill Clinton to speak on a panel about the budget surplus. Galbraith was a logical choice. A public […]