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The 2008 economic crisis signalled a new era for European and global politics and introduced a new 'economic crisis discourse', which has emerged as an attempt to explain, justify, criticize and interpret economic crisis. It has introduced new terms and constructed new meanings to political life. Media economic crisis discourse has been a decisive factor in peoples' understanding of economic crisis. The paper studies the construction and media narratives of economic crisis discourse through an analysis of articles published by The Economist during the 'peak years' of the early Greek economic crisis (2009–2011). The analysis follows Laclau and Mouffe's (1985) discourse theory and reveals the 'nodal points' of Greek crisis discourse as they are presented in the articles of The Economist. The paper underlines the importance of media discourse during crisis periods, in which information dissemination and news framing may crucially affect citizens, policies and societies in general. [ABSTRACT FROM AUTHOR]

This paper contains my responses to the papers included in the present EJPC issue on the Greek economic crisis. My critical investigation of these papers revealed the presence of either a well-disguised individualism or a naive collectivism in the authors' attempts to examine the function of psychotherapy in the midst of the current economic crisis. I suggest that one should keep alive the tension between the 'ideological' and 'radical' functions of psychotherapy by adopting a dialectical analysis which could combine both psychological and sociological explanations of the current crisis without relinquishing either or reducing one to the other [ABSTRACT FROM AUTHOR]

European financial crisis has raised questions about the sustainability and the contribution of innovation anchors especially in Southern European countries such as Greece. This paper utilizes the concept of regional innovation systems (RISs) and introduces a methodological approach that allows for evaluating an Science and Technology Park's (STP) contribution into the corresponding RIS performance, taking into consideration (1) the RIS idiosyncrasies, (2) the dominant role of government expenditures on R&D and (3) the underlying complexity of knowledge production and management, under alternative sets of restrictions imposed by fiscal consolidation on the preferences of authorities which design and implement Science, Technology and Innovation (STI) policies. Our framework relies on the estimation of a multi-input-multi-output latent knowledge production function approach and the corresponding efficiency indices. Data requirements are sourced from the Regional Innovation Scoreboard, for the four Greek regions and from a small-scale case study, with respect to the examined regional STP covering the period from 2000 to 2012. The main empirical findings highlight that the contribution of the examined STP in the corresponding RIS performance diminishes alongside with the decrease in GERD investment levels, with respect to all the efficiency indices. These findings are attributed to the structural characteristics of both the RIS and the STP under investigation, and capture their dependence on managing public financial resources for STI activities. [ABSTRACT FROM AUTHOR]

Purpose – The aim of the paper is to present a review of the fiscal imbalances and debt crisis in Greece and identify the possible links with the recent developments in the Greek property market. Design/methodology/approach – The author follows a non-technical approach to discuss a number of factors that have contributed to the fiscal crisis that Greece has been experiencing since October 2009. The author critically analyses both the “internal” causes of the deteriorating fiscal stance of the Greek economy (that is the prolonged macroeconomic imbalances that the Greek economy faces and the credibility problem of macroeconomic policy) and the “external” factors that might have contributed to the Greek fiscal crisis (that is implications of the recent financial turmoil and the timing of the response of Europe to the Greek fiscal crisis). The author then studies the extent to which fiscal imbalances and the debt crisis have affected the Greek property sector. Findings – The analysis indicates that the current fiscal stance of the Greek economy and the Greek property market crisis are intertwined. Practical implications – The author believes that these results are useful, make a contribution to the existing knowledge and provide some evidence that current economic recession has a considerable adverse effect on the property sector in Greece. Originality/value – One of the distinctive features of the paper is to critically discuss the direct and indirect effects of the prolonged macroeconomic imbalances on the Greek property sector. To the best of the author's knowledge, none of the existing studies in this area provides systematic treatment of the Greek fiscal crisis as a contributory factor in explaining the current crisis in the Greek property market. [ABSTRACT FROM AUTHOR]

The main claim of this paper is that the recent Greek economic crisis is not the sole or indeed the major cause of the current predicament, but is itself an outcome of a more long-term ‘cultural’, social and political crisis. Although current debates tend to overemphasize economic considerations and international factors, the view of the author is that, although important, these factors, when discussed in isolation, tend to conceal rather than disclose the ‘meaning’ of a way of life that is in crisis. Therefore, instead of discussing nomological causes, this paper tries to point towards the content of beliefs and various articulations of beliefs that have shaped everyday conduct, and highlight social and political practices that have constituted social life. [ABSTRACT FROM PUBLISHER]

This paper examines the similarities and differences between the Greek (2009-...) and the Mexican (1994-1995) crisis. Both of them had regional impacts, in Europe in the first case and in South America in the second case. After the crisis, important decisions that were taken changed the way economic policy is made in both countries. Measures taken to resolve the crises involved several key players, both at the national and the supranational level. In both crises, Greece and Mexico received a number of recommendations to be applied in their economic policies. The aim of this paper is to analyze the impact and role of national and supranational key players involved in the resolution of both crises. [ABSTRACT FROM AUTHOR]

This paper examines the ways in which the Greek economic crisis has affected the social development of Albanian immigrants in both the sending and the host country. It focuses on transnational households and family development projects and examines the degree of resilience and the power of motivation that drives people’s reactions during the crisis, comparing first- and second-generation immigrants. My research focuses mainly on those Albanian immigrants who by the third year of the economic crisis still live in Greece. The empirical analysis is based on primary data derived from participant observation, a semi-structured questionnaire with second-generation migrants and in-depth interviews amongst first- and second-generation Albanian immigrants residing in both urban and rural areas in Greece. [ABSTRACT FROM PUBLISHER]

This paper seeks to document the health effects of the Greek financial crisis. The hardship of the crisis as well as the austerity measures put in place to combat it are found to have negatively impacted public health, personal health, and mental health within the country. Despite these sobering findings, NGOs have made promising and innovative advances in countering the negative health effects, and the government is actively working towards the creation of policies that will bring this crisis within a crisis to an end. [ABSTRACT FROM AUTHOR]

The debt crisis in Greece since 2010 has triggered seismic changes in the political attitudes of the society and, above all, the political identity and discourse of the country. The extremely unpopular austerity policies caused a severe internal polarization which quickly translated into anti-German mass hysteria, vitriolic anti-EU rhetoric and sharp anti-austerity populism. This paper will endeavour to identify the origins, course and outcome of this dramatic shift in the political attitudes and identity in Greece and analyse them with the benefit of hindsight – almost six years after the eruption of the crisis. [ABSTRACT FROM AUTHOR]

This study is grounded in the considerable body of scholarship examining the formation of the global environment around the Greek crisis, the evolution of the crisis that affected the Greek economy, the need of financing the individuals and the enterprises after the crisis, and the impact of the crisis on the basic aggregates of the global economy. The paper generates insights about the impact of the economic crisis on Greece's external relations, the impact of the crisis on Greece's foreign policy, the association of self-rated health with economic crisis, and the role played by global finance in the crisis in the euro zone. [ABSTRACT FROM AUTHOR]

Based on an analysis of the neoliberal construction of European monetary integration, the Greek economic crisis and the Hayekian-style austerity policies being used to deal with it are analyzed. After theoretically characterizing these policies, the paper analyzes how their generalization in Europe is helping to deepen the European crisis and jeopardizing the recovery of the world economy. Nevertheless, the reason of the crisis is the loss of monetary sovereignty of every country and the financing of the state is sustained across the financial bank and not bank investors. [ABSTRACT FROM AUTHOR]

The article reviews the measures implemented in Greece during the economic crisis, and assesses their degree of success in leading to the catharsis for the chronic problems of the country's health system. Topics discussed include the European health model, European Union health policy intervention, and impact of health care reforms on population health and quality of life.

The article discusses the Greek debt crisis of 2012 and explains why holder of Greek debt have not been successful in Austrian courts. Information is provided on the Greek Private Sector Involvement (PSI) debt restructuring operation before the author covers decisions by the Austrian Supreme Court in cases involving Austrian retail investors who owned Greek-law governed bonds.

The article discusses the three themes of the conundrum within the financial crisis in the European Union (EU) countries in 2015 such as democracy, conditionality and institutional weakness. Topics mentioned include the impact of the initiatives of the International Monetary Fund (IMF) and EU conditionality on debt crisis in Greece, the effort started by Yanis Varoufakis, former Member of the Hellenic Parliament, with euro partners of Greece, and the response of EU Commission vice-president Jyrki Katainen to the election of the SYRIZA government, a left-wing political party in Greece, in Athens.

Instructed theoretically by the critical discussion on the media’s alignment with the institutions of power in societies, this study examines how the Greek legacy press framed the discussion over the crisis, by focusing on the bailout agreements Greece signed with the troika during the period 2010–2012. The analysis, following a three-step process in frames’ detection, focuses on the associations of actors and their responsibility, causes, solutions and effects of the crisis and the bailouts, as appearing in the news texts studied, and reveals a de-contexualised neoliberal discourse articulated through three distinct frames: the dependency, the (non)liability and the austerity frame. The representations of the financial crisis in the newspapers studied largely echo the neoliberal voices and strengthen the hegemonic discourse over the necessity and inescapability of the bailout policies, feeding the ‘masterframe’ of the neoliberal vision of the crisis. [ABSTRACT FROM AUTHOR]

In the debate about a possible exit of Greece from the euro area, Argentina is often referred to as an example-both by those in favour of and those warning of the adverse effects of a Grexit. Yet, while Argentina pulled off an impressive economic recovery after its 2001-02 crisis-one that goes beyond a mere commodity boom-there are important structural differences between the two countries, which still render a potential Grexit a very risky endeavour. [ABSTRACT FROM AUTHOR]

Greece became the first developed country to miss a payment to the IMF aid. So far, Greece was given the total of EUR 326 billion through the three rounds of bailout with EUR 40 billion of debt reduction. In the sixth year from the first bailout, reform is still a mission incomplete in Greece. Yet, Greece demands more financial support with less stringent reform. Unfolding Greek drama is in sharp contrast with the Korean case of the 1997 financial crisis. Within the three years of bailout, Korea paid back the entire loan of USD 21 billion and completed the requested reform, even going beyond the IMF conditionality. Why are they so different? How do we explain two opposite outcomes of reform under the crisis in Korea and Greece? Based on a dynamic model of the reform game, we present the analysis of the effectiveness of reform effort through the interplay of the reformers and stakeholders. [ABSTRACT FROM AUTHOR]

This essay explores Greek responses to the debt crisis, particularly middle-class Greeks and their current experiences of Greece's putative subordination to Germany in particular, and IMF and EU monitoring generally. I focus on the sphere of materiality and embodiment, while also exploring the role of desire and pleasure in Greeks’ responses to their growing sense of subordination. Graffiti, popular protests, hip-hop expressive culture, and sexual joking are lenses through which I examine these themes. I also scrutinize my own positionality as a way of understanding the bitterness and ambiguity entailed in Greek reactions to the crisis. The essay illuminates how Greeks experience subjugation and respond to it through explosive resort to historical comparisons, sexual metaphors, and ill-mannered jokes. [ABSTRACT FROM PUBLISHER]

The article discusses the economies of European Union countries, with focus on the financial crisis in Greece. Topics include the lack of industry in Greece; the growth of engineering and manufacturing sectors in Germany; the ability of countries that invent and manufacture to survive the recession; various solutions for Greece to emerge from crisis such as a plan of rebranded austerity or a debt forgiveness package; and the meltdown of Switzerland's currency franc.

The events that happened in Greece in recent weeks - and not only - showed the world that sovereign risk is present in today's global economy. Sovereign debt crises - which occur when an indebted state is no longer able to honor its commitments, have multiplied lately, but they should not be seen as a new phenomenon - the economic history offers numerous examples of such episodes. So, the State can default on its debt, with all the consequences that follow. In some circumstances, this near "bankruptcy" of one or more states may threaten the very stability of the international financial system and the development of the global economy, due to losses sustained by lenders. The real economic life shows that solutions to prevent over-indebtedness or getting out of this state can be identified only through a complex analysis, based on the entire system of financial and economic indicators, as the limits (thresholds) are highly mobile (and relative) from a country (or stage) to another, and from one organization to another. Managing sovereign risk in the current context represents a real challenge. [ABSTRACT FROM AUTHOR]

The article discusses the political history behind the collapse of the Greek economy. The stability of Eurozone member countries is put to question as the European Commission, the International Monetary Fund and the European Central Bank administer debt restructuring and domestic politics is upset by radical groups like Golden Dawn. Andreas Papandreou is blamed for overturning the conservative economics of previous prime minister Constantine Karamanlis and institutionalizing overspending.

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The article focuses on the history of corruption in Greece and its impact to the politics, economy, and social landscape of the country. Topics discussed include the connection between corruption and culture in the country, the decline in the gross domestic product (GDP) of the country by about 25 percent due to the economic crisis in 2008, and several factors on the assessment of the impact of culture on corruption such as future orientation, uncertainty avoidance, and human orientation.

The article constitutes a preliminary attempt to address the effects of the current economic crisis on the Greek environment. The austerity policies and other conditions imposed by the Memoranda of Understanding with the troika of international lenders are undermining the progress made in the pre-crisis years in the framework of European Union (EU) environmental policy. The latter conflicts with the EU's new priorities in the context of the Greek bailout programme. Examples include the air pollution caused by fuel substitution following a vast increase in heating fuel tax, the escalating environmental conflict related to gold-mining investment, and the crumbling environmental management apparatus. Strictly monitored by the European Commission, European Central Bank and International Monetary Fund, Greece needs to carefully delineate the trade-offs inherent in the country's ‘new’ model of growth. Proper policies are needed to avoid natural resource depletion, environmental decay and further national wealth reduction in the years to come. [ABSTRACT FROM PUBLISHER]

The article talks about the steps taken by the Greek economy to avert a labour crisis in the wake of global financial crisis. Revisions in labour laws strengthened the competitiveness of the Greek economy and increased its flexibility. Wage setting on the premise of collective agreements has positively affected the modernization of the framework for collective negotiations. It says that this new economic and social environment leaves room for growth in the operating rules of wage labour.

The Greek sovereign debt crisis of 2010 exposed the weaknesses of governance of both the 'euro area' and of Greece. Successive governments in Athens had failed to overcome endemic problems of low competitiveness, trade and investment imbalances, and fiscal mismanagement placing the economy in a vulnerable international position. Once the market crisis erupted, the European Union's Council of Ministers and the European Central Bank failed to provide a timely and effective response. The implications are threefold: the constraints on domestic reform proved immutable to EU stimuli; the 'euro' is more vulnerable to crisis than previously acknowledged; and the early discussion on 'euro' governance reform suggests that its underlying philosophy has not shifted significantly towards more effective 'economic governance'. This article explores the antecedents and management of the crisis and assesses the outcome. At the EU level, a paradox was evident in the denial of agency and resources that might limit the obligation of states to rescue an errant peer. Domestically, within Greece, the unprecedented external monitoring and policing of its economy - though matched by some initial successes - raises in the longer term sensitive issues of legitimacy and governability, with uncertain prospects for avoiding further crises. [ABSTRACT FROM AUTHOR]