The Twin Deficits, Monetary Instability and Debt Crises in the History of Modern Greece
George Alogoskoufis Working Paper no. 7/2023, Department of Economics, Athens University of Economics and Business ________________________________________________________________ This paper reviews, analyses and interprets the determinants and the implications of the twin, fiscal and current account, deficits in the history of modern Greece. The analysis focuses on the determinants and the dynamic interactions among the twin deficits,…
The State and the Economy of Modern Greece: Key Drivers from 1821 to the Present
George Alogoskoufis Working Paper no. 4/2023, Department of Economics, Athens University of Economics and Business also GreeSE Paper no. 184, Hellenic Observatory, London School of Economics _________________________________________________________________________________ This paper reviews, analyses and interprets the history of the state and the economy of modern Greece, from the eve of the war for independence in 1821 to…
The Twin Deficits and Debt Crises in the History of the Greek Economy
Historically, the two recurring major macroeconomic imbalances of the Greek economy are related to public finances and the balance of payments. Both the fiscal balance and the current account balance have been persistently negative, and have constituted the large twin deficits of the Greek economy. The twin deficits have resulted in growth pauses, long periods…
The Greeks: A Global History, by Roderick Beaton – review
This survey reflects the depth and complexity of Greece, a small country with a world-conquering ethos Katherine Fleming*, The Guardian December 10 2021 When the Greek poet George Seferis rose to give his speech on being awarded the 1963 Nobel prize for literature, he asserted that the Swedish Academy’s honour was not so much for…
A new book shows how the Greek revolution shaped Europe
The Greek Revolution: 1821 and the Making of Modern Europe. By Mark Mazower. Penguin Press; 608 pages; $35. Allen Lane; £30 Review in The Economist, November 6, 2021 _______________________________________________ When a coalition of footloose merchants, sea captains, hard-pressed peasants, landlords, bandits, clerics and intellectuals raised the flag against the Ottomans in the spring of 1821,…
Key Drivers of the History of the Greek Economy: From 1821 to the Present
Summary of a Paper presented by George Alogoskoufis at the online Harvard/Fletcher Conference on New Perspectives on the Greek Revolution, September 24-25, 2021. Modern Greece has a history of about two centuries. During these two hundred years, the country and the economy have been radically transformed. 1. Greece managed to almost triple its national territory, in…
1821 Before and After: Major Exhibition at the Benaki Museum, Athens
The Benaki Museum, in cooperation with the Bank of Greece, the National Bank of Greece and Alpha Bank, presents a major anniversary exhibition to celebrate the bicentenary of the pivotal year in modern Greek history, 1821, the year when the revolution which resulted in the country’s independence was declared. One thousand and two hundred objects…
Greece and the Euro: From Crisis to Recovery
The origins of the post-2010 Greek crisis and the pre-conditions – economic, political and institutional – for a sustained recovery of the Greek economy were examined recently by a number of prominent academics, many of whom possess extensive political experience in Greece. A selection of their contributions, first presented in a workshop at the London…
Revolutionary reckonings: Greek independence, 1821 and the historians
by Mark Mazower Times Literary Supplement, March 26, 2021 The uprising in Ottoman Europe which culminated in the independence of Greece was launched exactly 200 years ago. In a matter of months, a Christian peasant insurgency ousted the Ottomans from most of the Peloponnese in a conflict of immense ferocity, while Greek ships challenged the…
The Two Faces of Janus: 1954-73 versus 1974-93
Institutions, Policy Regimes and Macroeconomic Performance in Greece George Alogoskoufis Economic Policy, April 1995 A timely article on the Greek economy from … 1995. It compares macroeconomic performance in Greece during two consecutive twenty year periods, 1954-73 and 1974-93, and analyses how institutions and policy regimes affect macroeconomic performance. The clear change in policy regime…
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Economic History of Greece 