The Greek referendum: an alternative approach

Emmanouil Mavrozacharakis and Stelios Tzagarakis

MPRA Paper from University Library of Munich, Germany

Abstract: Admittedly, the balance of power within the European institutions, especially those related to financial stability and economic policy, is controlled by Germany. The German Federal Republic as the "main creditor" controls the Eurogroup, the Euro Working Group and has privileged relations with the International Monetary Fund (IMF) and the European Central Bank (ECB). Due to this fact, Wolfgang Schäuble as the exponent of the hard German economic strategy has a leading role within the European decision-making institutions. France, Italy and other countries are unsuccessfully trying to counteract and mitigate the German influence, as shown by the Greek issue. This framework is tightly connected with the negotiating ability of any country that inconsistently attempts to reverse the status quo, modify the rules or change the terms of an agreement. The Greek government of Alexis Tsipras sufficiently experienced this suffocating experience and announced a referendum as an attempt to open the field of negotiations.

Keywords: Greece; Populism; SYRIZA; Tsipras; Referendum; EU Crisis; Euro; Eurogroup (search for similar items in EconPapers)
JEL-codes: A10 A11 A12 A13 E0 E02 G0 G01 H1 H12 H7 H77 P11 P16 (search for similar items in EconPapers)
Date: 2015-07-12
New Economics Papers: this item is included in nep-cba, nep-eec and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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