A casual observer of the Greek political discourse should be excused for feeling completely confused by the cacophony created by a litany of the comments regarding the issue of Greek sovereign debt sustainability, re-negotiation, alleviation or even repudiation. While these comments reflect the importance of these issues for the future of the Greek economy, the way this dialogue is conducted obscures rather than clarifies the true nature of the problems that need to be addressed.
In what follows, we focus on some of the “hot topics” relevant to the Greek economy:
- What has been the course of events since 2010
- Where we stand now regarding the business cycle
- What is the cyclical position of the Greek economy
What is the “state of affairs” regarding the Greek debt