{"id":2580,"date":"2018-05-02T13:57:05","date_gmt":"2018-05-02T10:57:05","guid":{"rendered":"http:\/\/hardouvelis.gr\/?p=2580"},"modified":"2023-09-06T13:22:02","modified_gmt":"2023-09-06T10:22:02","slug":"greece-under-enhanced-surveillance-debt-relief-vs-moral-hazard","status":"publish","type":"post","link":"https:\/\/hardouvelis.gr\/el\/greece-under-enhanced-surveillance-debt-relief-vs-moral-hazard\/","title":{"rendered":"Greece Under Enhanced Surveillance: Debt Relief vs. Moral Hazard"},"content":{"rendered":"<p class=\"qtranxs-available-languages-message qtranxs-available-languages-message-el\">\u0395\u03b3\u03b3\u03c1\u03b1\u03c6\u03ae \u03b4\u03b9\u03b1\u03b8\u03ad\u03c3\u03b9\u03bc\u03b7 \u03c3\u03c4\u03b1 <a href=\"https:\/\/hardouvelis.gr\/en\/wp-json\/wp\/v2\/posts\/2580\" class=\"qtranxs-available-language-link qtranxs-available-language-link-en\" title=\"English\">English<\/a>. For the sake of viewer convenience, the content is shown below in the alternative language. You may click the link to switch the active language.<\/p><p><strong>Greece Under Enhanced Surveillance: Debt Relief vs. Moral Hazard<\/strong><br \/>\nGikas A. Hardouvelis<br \/>\nThe National Herald, New York<br \/>\n<em>May 1, 2018<\/em><\/p>\n<p><strong>Abstract<\/strong><\/p>\n<p>Greece\u2019s third Economic Adjustment Program 2015-2018 is coming to an end this August.\u00a0 Anticipation of the event has generated a heated debate within the country on what comes next. \u00a0Will there be adequate debt relief as was promised back in 2012 and in 2016, and if yes which form will it take and under what conditions? \u00a0Does August 2018 mark a \u201cclean exit\u201d from the past programs, followed by a period of uninterrupted growth as the governing coalition claims?\u00a0 Or instead, does it simply represent a \u201cdirty\u201d exit followed essentially by a disguised new \u201cfourth program\u201d with no fresh money from the lenders, yet with many extra restrictive obligations, some already legislated, as the main opposition parties proclaim?<\/p>\n<p>The stakeholders in this debate are not only the Greek citizens, the domestic political parties or the central bank, but the lenders as well, who carry different points of view, different financial claims and different motives. \u00a0Today it is still too early to predict the end result, yet it is clear a minimum consensus has emerged among the lenders that Greece will be under enhanced surveillance in the years to come, which would be stricter than for any other EMU country that went through an economic adjustment program.<\/p>\n<p><a href=\"https:\/\/www.thenationalherald.com\/199271\/greece-under-enhanced-surveillance-debt-relief-vs-moral-hazard\/\" target=\"_blank\" rel=\"noopener\">Read article in the National Herald website<\/a><\/p>\n<p><a href=\"http:\/\/hardouvelis.gr\/wp-content\/uploads\/2018\/05\/National-Herald_Sunday_Apr_29_2018.pdf\" target=\"_blank\" rel=\"noopener\">Download Article<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>\u0395\u03b3\u03b3\u03c1\u03b1\u03c6\u03ae \u03b4\u03b9\u03b1\u03b8\u03ad\u03c3\u03b9\u03bc\u03b7 \u03c3\u03c4\u03b1 English. For the sake of viewer convenience, the content is shown below in the alternative language. You<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[11,8],"tags":[3243],"yst_prominent_words":[479,2370,2365,481,925,2367,48,2366,2364,483,2372,2368,90,358,280,356,357,1286,2374,2421],"class_list":["post-2580","post","type-post","status-publish","format-standard","hentry","category-articles","category-press-articles","tag-articles"],"acf":[],"_links":{"self":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/2580","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/comments?post=2580"}],"version-history":[{"count":6,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/2580\/revisions"}],"predecessor-version":[{"id":4170,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/2580\/revisions\/4170"}],"wp:attachment":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/media?parent=2580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/categories?post=2580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/tags?post=2580"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/yst_prominent_words?post=2580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}