spotlight europe #2015/03 — August 2015: Money or Democracy? Greece and the Euro Dilemma

Gnath, Katharina and Hoffmann, Isabell (2015) spotlight europe #2015/03 — August 2015: Money or Democracy? Greece and the Euro Dilemma. [Policy Paper]

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Abstract

The negotiations on the third bailout package for Greece are still going on, but the euro area has already paid a high price for it. The compromise on which it is based is clearly very controversial. Some of its critics believe that it does not make sense in economic terms, whereas others point out that it may have an adverse political effect. But what in fact is Greece actually supposed to be doing, and what does all this mean with regard to sovereignty and democracy?

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