Erfolg ist keine Überlebensgarantie für Griechenland. Bedingungen und Hürden bei der Umsetzung des griechischen Reformprogramms
Success Is No Guarantee for Greece’s Survival. Conditions and Obstacles in the Implementation of the Greek Reform Programme

Summary/Abstract: The Greek sovereign debt crisis is now entering its second year, with no comprehensive solution in sight. The article seeks to take stock of the crisis’ evolution, the remedies that have so far been implemented and the further development of crisis resolution mechanisms at work in Athens through the Troika’s (EU, ECB, IMF) financial assistance and structural reform programme. Despite an impressive start of the Papandreou government to confront the crisis’ origins and chart a long-term solution of its causes, the efforts continue to be challenged by various constituencies inside Greece and their performance is cast into doubt by foreign observers. While Papandreou’s government is trying to implement an unprecedented reform agenda, the economy of Greece is in its third year of recession, with rising unemployment contributing to widespread discontent among citizens. As the debt dynamics continue to force painful adjustments, the discussion about its sustainability is increasingly gaining prominence. If Greece will have to re-schedule or restructure its debt is discussed in the concluding chapter of the article.

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