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Published: Jan 18 , 2018
Author: Stephen White

Should foreign aid be traded for domestic support? Just before Christmas, when almost every member of the United Nations voted in favour of a resolution condemning the US decision to recognise Jerusalem as the capital of Israel and to move its embassy there, President Trump retaliated: ’We’ll save a lot. We don’t care. But this isn’t like it used to be where they could vote against you and then you pay them hundreds of millions of dollars. We’re not going to be taken advantage of any longer’. On...

Published: Nov 22 , 2012
Author: Yannis Dimarakis

The Hellenic government has been struggling over the last 6 months to finalize an austerity package demanded by its 3 creditors (i.e. the IMF, the ECB and the European Commission – know as the “troika”). The package’s aim is to ensure that the deficit will be checked and that public spending will be reduced to sustainable levels. These measures are never popular as they usually entail steep salary and pension cuts, reductions in social benefits, decrease in the quality of health and education etc. None the less, this package, worth 11.5 bn € (a very heavy figure given the scale of the Hellenic economy), was a sine qua non for the release by the creditors of the next installment of funds to the government in Athens. So the pressure was on to wrap this up as soon as possible...

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