Tag : Greece

Fiscal austerity and growth

This chart shows the relationship for Eurozone countries between the cumulative change in the primary balance and the cumulative change in real GDP.


The Greek marathon

The approval by the Greek parliament of the agreement reached with the Eurozone leaders brings far reaching changes in terms of policy objectives and governance. Negotiations can now start with the creditors on a new programme in order to provide long term financing.


The referendum in Greece: which implications?

In Greece a referendum is normally to be held on Sunday 5th. The Greeks will have to pronounce themselves on measures and reforms submitted submitted by the Commission, the IMF and the ECB, in return for an extended financial support.


Who’s to blame for low interest rates?

Bond yields are very low and though ECB QE provides part of the explanation, the underlying causes are slow growth and low inflation


Convergence, divergence

The word ‘divergence’ often has a negative connotation while ‘convergence’ tends to be seen in a positive light. In reality, the opposite can also be true