Subscribe

 

Tuesday, June 2, 2020

THE HELLENIC LINK: Sign the Agreement Now!

Hellenic News
Hellenic News
The copyrights for these articles are owned by HNA. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of HNA and its representatives.

Must read

Obituary: Mary Anagnostou of Wilmington, DE

Mary E. AnagnostouAfter a brief, but swift illness, Mary Anagnostou passed peacefully to sleep on January 19, 2018, at her home in Wilmington, Delaware...

Greek-American Lawyer seeks to uphold the law for businesses affected by COVID-19

National Business Interruption Claims   The Hellenic News of America had the pleasure of interviewing Attorney Peter Palivos, who lives in Las Vegas and is considered...

Young Greek-American Entrepreneur Continues to Expand His Family Dental Business in Chicago

By: Aphrodite Kotrotsios, PublisherSpecial to the Hellenic News of America Peter Alemis is a young entrepreneur who has stepped into the family business and has...

Now’s not the time to get complacent about COVID-19, says Dr. Halkitis, Rutgers’ Dean of Public Health

By: David Bjorkgren, Senior EditorSpecial to the Hellenic News of America Perry N. Halkitis, Ph.D., M.S., M.P.H., the Dean of Rutgers School of Public Health,...

THE HELLENIC LINK, Inc.    ΕΛΛHNIKOS SΥNDESMOS                      

 

EditorialCommittee                                                                                                                                                                                                                               No. 129, May-June 2015

 

At this time of financial tribulation tormenting the people of Greece, the entire Hellenism, both within and outside its geographical Helladic limits, are similarly suffering and deeply exasperated seeking to extricate themselves from the long ordeal they have been experiencing. They all wish strongly that an effective and permanent solution to the immense national debt is reached so that the country can resume its course towards development and prosperity, and the Greek citizens become free from the shackle put on them by international lenders.

Thanks for reading Hellenic News of America

In this Bulletin, we project the collective expression for concern of 13 outstanding experts, members of the academic community who, with the conviction of their expert knowledge of economic matters, recommend in the following Declaration urgent action they believe will lead to the abatement of the crisis. We are indebted to Prof. Nicholas Economides, one of the 13 signers of the Declaration, for kindly bringing to our attention the ponderous position.

Sign the Agreement Now!

We have reached the end of negotiation that took several months, which was associated with debilitating lack of liquidity for the Greek State and for the private sector, all with enormous uncertainty. If an agreement with the Europeans is not immediately reached, Greece will default, inside or outside the Eurozone. Grexit would be a total disaster, involving collapse of the banking system due to massive withdrawals, high inflation, tremendous loss of purchasing power for the Greek population, shortages of basic goods, and marginalisation of the country. Even a default within the Eurozone would soon lead to Grexit, since it would be extremely difficult for any Greek government to handle it. It would require enormous support from the ECB, which would not be forthcoming. In a short time, the Greek government — voluntarily or under pressure — would transition to the new Drachma. Thus, both types of default (inside and outside the Eurozone) will lead to the total disaster associated with the new Drachma.

A last-minute agreement will be far from perfect and without the necessary structural reforms. However, it will be much better compared to the chaos of default and Drachma. The Greek government must sign this agreement now!

  • Marios Angeletos, ΜΙΤ
  • Costas Azariadis, Washington University in St. Louis
  • George Constantinides, University of Chicago
  • Haris Dellas, Universitat Bern
  • Nikos Economides, New York University
  • Michael Haliassos, Goethe University Frankfurt
  • Yannis Ioannides, Tufts University
  • Costas Meghir, Yale University
  • Stylianos Perrakis, Concordia University
  • Manolis Petrakis, University of Crete
  • Chris Pissarides, Nobel Laureate, London School of Economics and University of

Cyprus

  • Thanasis Stengos, University of Guelph
  • Dimitris Vayanos, London School of Economics

 

Greek newspaper Kathimerini of June 14, 2015

 

Additional comments by Prof. Economides on the present status of the economic situation of Greece, the reader can find in the following series of presentations in public media:

  • Bloomberg TV, Is It Game Over for Greece?, June 16, 2015
  • Skai TV, Greek economic crisis, June 16, 2015 (in Greek)
  • Skai radio, Greek economic crisis, June 16, 2015 (in Greek)
  • Kathimerini, The solution for the Greek debt problem, Kathimerini, June 14, 2015 (in Greek)
  • Kathimerini, Need for immediate agreement, June 14, 2015 (in Greek)
  • Kathimerini, Sign the agreement now!, June 14, 2015 (in English)
  • Mega TV, Greek economic crisis, June 14, 2015 (in Greek)
  • Associated Press, Network neutrality, June 12, 2015
  • ERT radio, Greek economic crisis, June 7, 2015 (in Greek)
  • Bloomberg, Greece Defers IMF Payment as Merkel Says Resolution Far Away, June 4, 2015
  • CNBC.com, Greece has two options: A deal or chaos, June 3, 2015
  • Bloomberg News TV, Is a deal in sight?, June 2, 2015

 

 

 

 

The copyrights for these articles are owned by the Hellenic News of America. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of the Hellenic News of America and its representatives.

More articles

Latest articles

Archbishop Elpidophoros responds to the unjust slaying of George Floyd

Archbishop Elpidophoros Issues Statement on George Floyd New York – On Friday, May 29, 2020, in response to the growing tensions across the country, His...

His Eminence Metropolitan Nathanael Releases statement on the death of George Floyd and its aftermath

On Monday, June 1, His Eminence Metropolitan Nathanael of Chicago made the following statement:Like so many of you, it was with heartache, confusion and...

ΜΗΝΥΜΑΤΑ ΑΠΟ ΜΙΑ ΙΑΣΗ

Μέσα στο πανδαιμόνιο τόσων απροσδόκητων νόσων αλλά και τόσων χαροποιών ιάσεων τον τελευταίο καιρό λόγω του κορονοϊού, είναι πιστεύω χρήσιμο να θυμηθούμε και να...

Greek-American designer designer Maria Argyropoulos Zarian talks about ‘Masks for a Cause’

Greek-American designer Maria Argyropoulos Zarian chatted with HNA's Markos Papadatos about making a difference with her company m.andonia and "Masks for a Cause." She also...

‘Live with Aphrodite’ welcomes Greek-American recording artist Kalomira

Greek-American pop sensation, Kalomira, releases new song "Gia Mia Zoi" May 7, 2020- In light of the current pandemic, COVID-19, Hellenic News of America took...