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Greece banked on EMU. Entry into the eurozone was its ticket to macroeconomic stability, its modernisation jacket and its gateway to global markets. So how did such a promising start turn to dust so quickly? Was Greece the delinquent eurozone member whose fiscal downfall nearly brought down some of the world's strongest economies? Or was it the first victim of the euro's system failure? An original approach to understanding how national institutions affect economic performance, diluting and disrupting single currency pressures for convergence and adjustment.
Contents
Contents
List of Figures and Tables vii
Acknowledgements ix
Chapter One: Introduction 1
Chapter Two: New Institutionalism at a Crossroads 15
Chapter Three: Greek Policy Formation, 1974-1993: Caught Between a
Politicised Economy and EC Adjustment 29
Chapter Four: EMU Negotiations, National Strategies and the External
Constraint 55
Chapter Five: Nominal Convergence and Macroeconomic Policy 73
Chapter Six: The `Good' EMU Years 97
Chapter Seven: Salvation Does Not Come Cheap 125
Chapter Eight: Conclusion: Owning and Sharing Responsibility 155
Appendix A: Biographical Data 175
Appendix B: List of Interviewees 181
Index 183
