Strategic Analysis | May 2015
Greece: Conditions and Strategies for Economic Recovery
The Greek economy has the potential to recover, and in this report we argue that access to alternative financing sources such as zero-coupon bonds (“Geuros”) and fiscal credit certificates could provide the impetus and liquidity needed to grow the economy and create jobs. But there are preconditions: the existing government debt must be rolled over and austerity policies put aside, restoring trust in the country’s economic future and setting the stage for sustainable income growth, which will eventually enable Greece to repay its debt.
Direct job creation Economic recovery Employer of Last Resort (ELR) policy Euro Eurozone Fiscal credit certificates Geuro bonds Greece Greek economic crisis Parallel currency Stock-flow consistent (SFC) modeling