Greece

Foreign Affairs Article

Misrule of the Few

Author: Pavlos Eleftheriadis

Just a few years ago, Greece came perilously close to defaulting on its debts and exiting the eurozone. Today, thanks to the largest sovereign bailout in history, the country’s economy is showing new signs of life.

See more in Greece; Economics

Analysis Brief

Rescue or Risk for Greece?

Author: Christopher Alessi

Greece appears to have averted imminent default, but its recovery prospects remain clouded by the severity of its planned austerity measures and the impact cutbacks have already had on its stricken economy.

See more in Financial Crises; Greece

Analysis Brief

Does the Greek Deal Go Far Enough?

Author: Christopher Alessi

Even as Greek leaders agree to new austerity measures, the IMF is calling on Greece's official creditors to take losses on its bond holdings. Analysts and policymakers increasingly question the wisdom of EU-mandated austerity measures at the expense of growth.

See more in Financial Crises; Greece

Analysis Brief

Managing a Greek Default

Author: Christopher Alessi

Despite a German parliamentary vote to boost the eurozone's bailout mechanism, Greek sovereign debt levels appear unsustainable and a default may be inevitable. Most economists think the question now is how to make the process orderly.

See more in Greece; Financial Crises

First Take

A Greek Boost for the Euro

Author: Charles A. Kupchan

A victory for Greece's center-right New Democracy party is a reprieve for the euro, but eurozone leaders must still grapple with systemic fixes, writes CFR's Charles A. Kupchan.

See more in Greece; Financial Crises

First Take

Muddling through Greece's Tremors

Author: Marc Levinson

At the center of market upheaval over Europe's debt crisis is Greece, which faces daunting challenges despite a pending bailout. But it should be counted on to muddle through with reforms, writes CFR's Marc Levinson.

See more in Greece; Financial Crises

Interactive

Timeline: Greece's Debt Crisis

Since the creation of the European Union in 1992 and the subsequent launch of the euro, Greece’s fiscal mismanagement and resulting debt crisis has repeatedly threatened the stability of the eurozone—and the country’s troubles are far from over.

See more in Greece; Budget, Debt, and Deficits