Nikiforos, Michalis; Papadimitriou, Dimitri B.; Zezza, … - Levy Economics Institute - 2015
The Greek economic crisis started as a public debt crisis five years ago. However, despite austerity and a bold … "haircut," public debt is now around 175 percent of Greek GDP. In this policy note, we argue that Greece's public debt is … unsustainability of the Greek public debt is a necessary condition for resolving the Greek and European crisis, it is not, in itself …