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The European debt crisisThe Greek case$
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Costas Simitis

Print publication date: 2014

Print ISBN-13: 9780719095795

Published to Manchester Scholarship Online: September 2014

DOI: 10.7228/manchester/9780719095795.001.0001

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The European debt crisis

Costas Simitis

Manchester University Press

The chapter discusses the Troika report on the sustainability of Greece's debt, published in October 2011. In there, the country's creditors acknowledged that support for the Greek economy should be extended beyond the provisions of the July 2011 package. This admission of failure undermined the credibility of the programme and created a widespread impression amongst public opinion in Greece that the government had lost control. In the EU, much of the discussion centred around the financing of the EFSF, where France and Germany openly disagreed, thus further aggravating fears that the Eurozone could not speak with one voice on the crisis.

Keywords:   Eurozone, Greece, France, Germany, EFSF, Debt, Memorandum, Economic policy

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