Category Archives: Macroeconomic policy

The Washington Consensus and Long-Term Austerity in Latin America

Most Latin American countries—including those, like Chile and Brazil, where democratically elected leftist governments were overthrown in the 1960s and 1970s. reversed course to adopt “neoliberal” economic policies. How well did that work?

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What If There is No Deal on Greece?

The alarming part of the deadlock between Greece and its lenders is the lack of a plan on the creditor side to develop a Plan B, a sort of mirror image of the Greek government’s claim that its has bet everything on securing a favorable agreement.

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Creditors Reject Latest Greek Proposal, Tsipras Meeting with Merkel and Hollande in Doubt as Default Risk Rises

Greece’s creditors are not pleased, and perhaps more important, the Greek government has lost one of its few remaining advocates, Jean-Claude Juncker of the European Commission. The Eurocrats are finally waking up to the degree to which the two sides have talking past each other. The implication is that it is far less likely than they had believed.

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A Parallel Currency for Greece: Part II

Yves here. I’m quite interested in reader reactions to this scheme. My big reservation is that the amount of the scrip devised by the authors, the TCC, has to be limited to the an amount of discount of future tax payments that is deemed to be credible. Given that Bill Mitchell has estimated that Greece […]

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