Michael Haliassos will discuss briefly the political origins of debt buildup in Greece, present his views on the precise sense in which the adjustment program failed, and argue that, given this failure, the current political and economic crisis were to be expected. Regarding the current deadlock, in his opinion there is one class of simple reforms that are key for ensuring the viability of the country in the eurozone. Haliossos will then explain why the current government is unlikely to deliver these reforms although the people would welcome them and why the previous governments did not promote them and the troika paradoxically discouraged them.
Room "Paris", House of Finance
Campus Westend, Goethe University Frankfurt
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