Article citationsMore>>

Caruso, A., Reichlin, L. and Ricco, G. (2019) Financial and Fiscal Interaction in the Euro Area Crisis: This Time Was Different. European Economic Review, 119, 333-355.
https://doi.org/10.1016/j.euroecorev.2019.08.002

has been cited by the following article:

• TITLE: Do Economic Adjustment Programmes Set Conflicting Objectives? The Case of Greece

  AUTHORS: Panagiotis Liargovas, Marios Psychalis

  KEYWORDS: Economic Adjustment Programmes, Greek Crisis Reforms, Fiscal Financial and Competitiveness Policy

  JOURNAL NAME: Theoretical Economics Letters, Vol.9 No.8, December 30, 2019

  ABSTRACT: Certain EU countries could not counter the effects of the 2008 global financial crisis. As a result, they lost access to international markets. The EU attempted to resolve the European financial crisis by implementing economic adjustment programmes. Economic adjustment programmes included financing conditional on the implementation of reforms. All programmes consisted of three main pillars: Fiscal consolidation, financial stability, and promoting growth and competitiveness. This article examines whether the objectives set under each pillar were in conflict with or complementary to the objectives set under other pillars. Studying the case of Greece, it is concluded that certain economic adjustment programme objectives and policies were indeed conflicting, rendering their implementation harder.