Tag «Michalis Nikiforos»

LATEST ROUND OF AUSTERITY MEASURES IN GREECE WILL LEAD TO SEVERE RECESSION, NEW LEVY ECONOMICS INSTITUTE STUDY SAYS

ANNANDALE-ON-HUDSON, N.Y.— To continue meeting its obligations as part of last year’s Memorandum of Understanding (MOU) with its European Union creditors, the Greek government has agreed to a new round of fiscal austerity measures, including sharp increases in property and income taxes as well as further reductions in pensions and other welfare-related programs. A new …

NEGOTIATING DEADLOCK AND INSISTENCE ON AUSTERITY POLICIES FURTHER UNDERMINE GREEK ECONOMY, NEW LEVY REPORT SAYS

Alternative Financing Sources Such as Zero-Coupon Bonds (“Geuros”) and Fiscal Credit Certificates Could Stimulate and Restore Faith in Greek Economy, but Only if Debt Is Rolled Over and Harsh Austerity Measures Put Aside ANNANDALE-ON-HUDSON, N.Y.— More than four months into negotiations, and with a default and potential exit from the European Union looming for Greece, …

CONTINUATION OF AUSTERITY MEASURES WILL PROLONG GREECE’S NATIONAL CRISIS FOR MORE THAN A DECADE AND POSES CONTAGION RISK FOR EUROZONE, NEW LEVY INSTITUTE REPORT SAYS

ANNANDALE-ON-HUDSON, N.Y.— Vowing to renegotiate the terms of Greece’s bailouts—including reversing many austerity measures, repealing labor market reforms, and restructuring a portion of the country’s sovereign debt—the anti-austerity Syriza party continues to lead polls ahead of Greece’s election on January 25. The impending vote has spurred renewed discussion about Greece exiting the eurozone and is …