Where did the Greek bailout money go? / Axel Stahmer    

Public ISBD Titre : Where did the Greek bailout money go? Type de document : document électronique Auteurs : Axel Stahmer, Auteur ; Jörg Rocholl, Auteur Editeur : ESMT European School of Management and Technology Année de publication : 2016 Collection : ESMT White Paper num. 16–02 Importance : 24 p Langues : Anglais (eng) Catégories : Dette Tags : Dette  Grèce  UE  FMI  ECB  Politique économique  Entreprises Résumé : This paper provides a descriptive analysis of where the Greek bailout money went since 2010 and finds that, contrary to widely held beliefs, less than €10 billion or a fraction of less than 5% of the overall programme went to the Greek fiscal budget. In contrast, the vast majority of the money went to existing creditors in the form of debt repayments and interest payments. The resulting risk transfer from the private to the public sector and the subsequent risk transfer within the public sector from international organizations such as the ECB and the IMF to European rescue mechanisms such as the ESM still constitute the most important challenge for the goal to achieve a sustainable fiscal situation in Greece. En ligne : https://www.esmt.org/where-did-greek-bailout-money-go Where did the Greek bailout money go? [document électronique] / Axel Stahmer, Auteur ; Jörg Rocholl, Auteur . - [S.l.] : ESMT European School of Management and Technology, 2016 . - 24 p. - (ESMT White Paper; 16–02) . Langues : Anglais (eng) Catégories : Dette Tags : Dette  Grèce  UE  FMI  ECB  Politique économique  Entreprises Résumé : This paper provides a descriptive analysis of where the Greek bailout money went since 2010 and finds that, contrary to widely held beliefs, less than €10 billion or a fraction of less than 5% of the overall programme went to the Greek fiscal budget. In contrast, the vast majority of the money went to existing creditors in the form of debt repayments and interest payments. The resulting risk transfer from the private to the public sector and the subsequent risk transfer within the public sector from international organizations such as the ECB and the IMF to European rescue mechanisms such as the ESM still constitute the most important challenge for the goal to achieve a sustainable fiscal situation in Greece. En ligne : https://www.esmt.org/where-did-greek-bailout-money-go

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WP-16-02.pdf Adobe Acrobat PDF

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