Greece

Testimony

Greece's Euro Future and U.S. Policy

Author: Robert Kahn

In his testimony before the Senate Committee on Foreign Relations' Subcommittee on Europe and Regional Security Cooperation, Robert Kahn argues that although Greece's direct trade and financial links to the U.S. economy are small and there is less of a direct systemic threat to the United States than when the crisis began in 2009, the risks are still material.

See more in Greece; Eurozone; Financial Crises

Event

Media Call: Greek Bailout Agreement

Speaker: Robert Kahn
Presider: Douglas A. Rediker

Council on Foreign Relations Senior Fellow Robert Kahn breaks down the deal and explains what it means for the future of Greece and the European Union. Greece reached an agreement with European creditors that would impose harsh austerity measures in return for a financial bailout.

See more in Greece; Budget, Debt, and Deficits

Primary Sources

Euro Summit on Greece Statement

Leaders of euro member states held a special Euro Summit on Greece. On July 12, 2015, the leaders "agreed in principle that they are ready to start negotiations on an ESM [European Stability Mechanism] financial assistance programme for Greece."

See more in EU; Greece; Eurozone

Op-Ed

Greece’s Lesson for Ukraine: More Populism, Please

Author: Stephen Sestanovich
Wall Street Journal

Can Western governments learn anything from the Greek fiasco that will produce a better result in Ukraine?  There are countless differences between the two situations, but one big similarity should worry us: In both countries an economic crisis has begotten a political crisis, and the two have begun to feed on each other.

See more in Greece; Ukraine; Financial Crises; Politics and Strategy

Event

Media Call: Mallaby and Kahn on Greece and the Eurozone

Presider: Adam Davidson
Speaker: Sebastian Mallaby
Speaker: Robert Kahn

Eurozone finance ministers meet in Luxembourg to negotiate a deal between Greece and its creditors before its International Monetary Fund debt repayment deadline at the end of June. Greece's membership in the eurozone hangs in the balance. CFR senior fellows Robert Kahn and Sebastian Mallaby will discuss the options the finance ministers might consider and their potential ramifications.

See more in Greece; Economics

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

Must Read

Reuters: Complete the Job

Author: Hugo Dixon

"Greece's reform job is not even half finished. The government hasn't done enough to root out the vested interests that strangle the economy. Nor has it cracked down fully on tax evasion or pushed hard enough to privatise state-owned properties."

See more in Greece; Economic Development