Greece: Conditions and Strategies for Economic Recovery
D.B. Papadimitriou, M. Nikiforos, G. Zezza
Prof. Dimitri B. Papadimitriou, Levy Institute of Economics
Dr. Michalis Nikiforos, Levy Institute of Economics
Prof. GennaroZezza, Università di Cassino, Italy, and Levy Institute of Economics
Please cite the paper as:
D.B. Papadimitriou, M. Nikiforos, G. Zezza, (2015), Greece: Conditions and Strategies for Economic Recovery, World Economics Association (WEA) Conferences, No. 2 2015, The European Crisis, 1st October to 1st December, 2015
The Greek economy has the potential to recover, and in this report we argue that access to alternative financing sources such as zero-coupon bonds (“Geuros”) and fiscal credit certificates could provide the impetus and liquidity needed to grow the economy and create jobs. But there are preconditions: the existing government debt must be rolled over and austerity policies put aside, restoring trust in the country’s economic future and setting the stage for sustainable income growth, which will eventually enable Greece to repay its debt.