Myths and Self-Deceptions about the Greek Debt Crisis

Stergios Skaperdas

No 141511, Working Papers from University of California-Irvine, Department of Economics

Abstract: The long-running Greek public debt crisis has been accompanied by an information war that has obscured what has occurred. The misconceptions, self- deceptions, and myths associated with the crisis have been at least partly responsible for the obviously inadequate response to the crisis and for the damage to the economies and societies of primarily Greece but also of other Eurozone countries. I argue against seven such myths about the effects of default, the primary cause of the crisis, the likely effects of an exit from the eurozone, the bargaining power of the Greek government in its negotiations with the EU/ECB/IMF troika, and others. I also discuss the context of the wider slippage of democracy in the European Union and future prospects.

Keywords: Eurozone; Greece; Debt; Default (search for similar items in EconPapers)
JEL-codes: D70 E50 H50 H60 (search for similar items in EconPapers)
Pages: 29 pages
Date: 2015-06
New Economics Papers: this item is included in nep-cba, nep-eec, nep-mac and nep-pke
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Journal Article: Myths and Self-Deceptions about the Greek Debt Crisis (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:irv:wpaper:141511

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