Why can’t Greece get out of debt?

Between 2007 and 2015, Greece’s public debt rose from 103% to 179% [1] of its GDP (see chart below). The debt-to-GDP ratio rose at an uninterrupted pace, except for a 12-point fall in 2012 following the restructuring imposed on private creditors, and despite the implementation of two macroeconomic adjustment …

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Syriza faces the stranglehold of austerity

Following its election, the Syriza government has to face a double fiscal and banking emergency, which is the consequence of the past austerity plans and of the 2012 rescue on public funds of the European banks. A real stranglehold was set up by the Troika and the previous governments, in …

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