- Title Pages
- Tables, Figures, and Boxes
- Acknowledgments
- Acknowledgments
-
Introduction The Sovereign Debt Puzzle -
One Why Do Countries Repay Their Debts? -
Two A Critical Political Economy Approach -
Three The Structural Power of Finance -
Four Three Enforcement Mechanisms -
Five The Making of the Indebted State -
Six The Internationalization of Finance -
Seven From Great Depression to Financial Repression -
Eight Syndicated Lending and the Creditors’ Cartel -
Nine The IMF’s “Triumphant Return” in the 1980s -
Ten The Rise of the Bankers’ Alliance -
Eleven “The Rich Got the Loans, the Poor Got the Debts” -
Twelve The Exception That Proves the Rule -
Thirteen From IMF Poster Child to Wayward Student -
Fourteen The Rise and Fall of the Patria Financiera -
Fifteen “Even in a Default There Is Money to Be Made” -
Sixteen The Power of Finance in the Eurozone -
Seventeen Anatomy of a “Holding Operation” -
Eighteen The Establishment Digs In -
Nineteen The Socialization of Greece’s Debt -
Twenty The Defeat of the Athens Spring -
Conclusion Shaking Off the Burden -
Appendix A Word on Methodology - Notes
- References
- Index
The Power of Finance in the Eurozone
The Power of Finance in the Eurozone
- Chapter:
- (p.225) Sixteen The Power of Finance in the Eurozone
- Source:
- Why Not Default?
- Author(s):
Jerome Roos
- Publisher:
- Princeton University Press
This chapter considers the Greek debt crisis that began in late 2009, specifically the remarkable degree of debtor compliance in the Greek case in light of the country's long-standing reputation as a “debt-intolerant serial defaulter” that spent nearly half of its history since independence in a state of default. The chapter analyzes the Greek crisis through the lens of the three enforcement mechanisms of debtor discipline identified in the Mexican and Argentine cases in the preceding chapters. While much of the debate on Greece's policy response has centered on the question of the country's Eurozone membership, the chapter digs a little deeper to uncover many of the same power dynamics that had been at play in the Global South in the 1980s and 1990s.
Keywords: Greece, Greek debt crisis, financial crisis, default, sovereign debt, debtor discipline
Princeton Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.
Please, subscribe or login to access full text content.
If you think you should have access to this title, please contact your librarian.
To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us.
- Title Pages
- Tables, Figures, and Boxes
- Acknowledgments
- Acknowledgments
-
Introduction The Sovereign Debt Puzzle -
One Why Do Countries Repay Their Debts? -
Two A Critical Political Economy Approach -
Three The Structural Power of Finance -
Four Three Enforcement Mechanisms -
Five The Making of the Indebted State -
Six The Internationalization of Finance -
Seven From Great Depression to Financial Repression -
Eight Syndicated Lending and the Creditors’ Cartel -
Nine The IMF’s “Triumphant Return” in the 1980s -
Ten The Rise of the Bankers’ Alliance -
Eleven “The Rich Got the Loans, the Poor Got the Debts” -
Twelve The Exception That Proves the Rule -
Thirteen From IMF Poster Child to Wayward Student -
Fourteen The Rise and Fall of the Patria Financiera -
Fifteen “Even in a Default There Is Money to Be Made” -
Sixteen The Power of Finance in the Eurozone -
Seventeen Anatomy of a “Holding Operation” -
Eighteen The Establishment Digs In -
Nineteen The Socialization of Greece’s Debt -
Twenty The Defeat of the Athens Spring -
Conclusion Shaking Off the Burden -
Appendix A Word on Methodology - Notes
- References
- Index
