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Locked in the commitments of previous governments and arrangements negotiated with the Troika back in 2010 and early 2012, the Greek government continues to channel the burden of fiscal adjustment towards the private sector, killing any nascent thoughts of investment and entrepreneurship in Greece. Simultaneously, bold structural reforms are kept hostage to the uncertain balance of the ruling coalition and negligible majority in the Greek parliament. Caught literally between a rock and a hard place, the authorities seek to attain a primary fiscal surplus, hopeful that this will help to bring an end to the essentially faulty economic adjustment programme for Greece in 2014. Surprisingly, the talk of fiscal surplus alone seems to have ignited positive expectations that the crisis might, in fact, be nearing an end. This suggests that in the same way as the crisis in Greece was provoked by irresponsible and inaccurate statements about Greece's fiscal position and Grexit was a viable option through 2011, discourses on Grecovery may prove constitutive of the end of the crisis. This paper explores this issue and by so doing contemplates the evolving nature of the core-periphery relations in the EU and its policy-making. [ABSTRACT FROM PUBLISHER]

Many scholars have tried to comprehend and analyse the root causes of the Greek economic crisis. In the majority of these analyses, a series of economic factors were mainly highlighted as the key to understanding the nature of the problem. While these factors are profound aspects of the Greek financial and economic failure, they are only a part of the reality. The root causes for the Greek crisis can be found within the Greek political and institutional model of development and its model of governance. In this paper a series of political factors are highlighted as the key factors of this crisis. The development of statism, the failed Europeanization, the high level of corruption, the impact of syndicates and interest groups on the formation of economic policies, the skewed model of governance, populism and the unstable political and parliamentary regime are the most profound. The Greek crisis has a political element that cannot be overlooked and it is highly different than any other European country. This political element makes us worry about the future of the Greek crisis and the EU. [ABSTRACT FROM AUTHOR]