 Troika’s Economic Adjustment Programmes for Greece: Why They Fail Systematically?A chapter in Economy, Finance and Business in Southeastern and Central Europe, 2018, pp 83-95 from Springer Abstract: Abstract The three Economic Adjustment Programmes for Greece have been agreed by the Greek government and the EU-ECB-IMF troika as a remedy for the Greek crisis. This paper first analyses the theoretical origins of these programmes which lie in the neoconservative notions of pro-cyclicality and growth-creating austerity and follow the blueprint of IMF’s 1990s Structural Adjustment Programmes. Then it shows how, in the Greek case, the initial blueprint underwent crucial modifications that impede seriously its already problematic applicability. The subsequent sections identify the main technical and political-economic deficiencies of the Greek programmes and on this basis explain their systematic failure in achieving their own goals. The main argument is that the neoconservative restructuring strategy of these programmes, while being obligatory for the dominant interests of the EU, violates fundamental economic and social equilibria of the Greek society. This makes it an overambitious and concomitantly extremely precarious strategy. Keywords: Greek crisis; Eurozone crisis; IMF adjustment programmes (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-319-70377-0_6 Ordering information: This item can be ordered from DOI: 10.1007/978-3-319-70377-0_6 Access Statistics for this chapter More chapters in Springer Proceedings in Business and Economics from Springer |
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