Future of Greece and the Eurozone Remains Uncertain

June 19, 2012 by

So for the short term, it appears we won’t have a “Grexit”, which has led many commentators to suggest (laughably) that a crisis has been averted. Typical of this sentiment is a headline in Bloomberg today “Greece avoids chaos; Big Hurdles Loom”. To paraphrase Pete Townsend, meet the new chaos, same as the old chaos.

What Next in Greece?

May 21, 2012 by

The disintegration of Greece’s political status quo has shaken Greek society - and the political and administrative elite - to their core. The new elections that will be held on June 17th will be the first to be conducted in several decades without a bipolar political system in place - at least not the one we have come to know since 1974. The ‘clientele’ system is giving way to a more individualized and complicated approach, more a function of realism and ideology than patronage.

The Tide is Turning

May 20, 2012 by

Recent elections in France and Greece have generated a good deal of comment, suggesting that the years of center-right governance in Europe may be coming to an end. The defeat of President Nicolas Sarkozy of France by the Socialist candidate Francois Hollande, and the collapse in Greece of political parties that allowed unrestrained capitalism and chaos to take hold, are major developments.

The Puzzle of the 2012 Greek Elections

May 8, 2012 by

With the Greek Parliamentary election behind us—likely the first of at least two such contests in this political season—we need to take stock of the situation and separate myth from fact. My objective is to make sense of the electoral results by describing and analyzing the Greek political system in both its historic and nascent forms. The particulars of the bailout have been widely discussed elsewhere in the press and policy circles, and I will refer to them only in the ways in which they inform the topic.

Second EU/IMF Economic Bailout Likely for Athens

June 7, 2011 by

Amid dissent from his own government and continued protests in Athens, Prime Minister George Papandreou instructed the Ministry of the Interior to prepare for the possibility of a referendum on further cutbacks. “I am prepared, for the great changes that we are putting forward, to use even the institution of a referendum, for the broadest possible consent or opinion,” the prime minister told his cabinet ministers during a lengthy meeting.