Syriza in opposition may obstruct Greek reform again

Abstract

Subject Greece’s performance as a ‘programme country’ since 2010. Significance Excluded from international capital markets for the last six years, Greece has negotiated three memoranda of understanding (MoU) with its international creditors. When its third programme concludes in July 2018, Greece will have been in economic adjustment programmes (EAP) for almost a decade. The impact on the country’s institutional architecture, sense of sovereignty and political representation has been considerable. Impacts Orderly exit from creditor assistance would increase Greece’s refinancing options, including returning to international bond markets. Severe recession will continue to impact household consumption, domestic demand and investment capacity, private and public. Greece’s crisis has regional ramifications, including the ongoing refugee crisis and fraught relations with Turkey.