The Destiny of the First Two Greek “Rescue” Packages: A Survey

Pablo Bortz

International Journal of Political Economy, 2019, vol. 48, issue 1, 76-99

Abstract: This article analyzes the financial assistance provided to Greece in the first two rescue packages granted by the Troika (European Union, European Central Bank, and IMF). By drawing on official data and documentation, this study concludes that 97.3% of the disbursed sums were used to repay interest payments and debt principal and to recapitalize Greek banks. The article also reviews the literature on the topic, which varies widely in assessments. It critically discusses different suggested means of assistance, such as the TARGET 2 system, and alternative outlays for the sums disbursed, such as the financing of capital flight and the stability of Greek pensions and depositors.

Date: 2019
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/08911916.2018.1564493 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mes:ijpoec:v:48:y:2019:i:1:p:76-99

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/MIJP20

DOI: 10.1080/08911916.2018.1564493

Access Statistics for this article

More articles in International Journal of Political Economy from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().