Synopses & Reviews
With tensions rising over Greece's current debt crisis, this study chronicles the Occupation Loan that was forcibly obtained by the Third Reich from Greece in 1942-44. It demonstrates why Greece's claim for the repayment of the loan is still valid and endeavours to estimate its present value.To overcome the absence of a normal debt agreement between the two countries, various assessments of its current value are presented and discussed. A proposal is outlined on how the German obligation can be settled within the bailout agreement that Greece has signed to face the current debt crisis. Resolving a longstanding issue and bringing justice to the sacrifices that Greece made during WW2, the settlement will also help to mitigate the hostile stereotyping that is presently developing between the two countries.This text provides a close study of Greece's economic history and present crisis. It will make essential reading for scholars and students of economic history and those interested in the European economic crisis.
Synopsis
The book chronicles the Occupation Loan that was forcibly obtained by the Third Reich from the Greece in 1942-1944 and demonstrates why Greece's claim for the repayment of the loan is still valid. To overcome the absence of a normal debt agreement between the two countries, various assessments of its current value are presented and discussed.
About the Author
Nicos Christodoulakis is Professor of Economic Analysis in the Athens University of Economics and Business (AUEB), Greece, and a Research Associate with the Hellenic Observatory at the London School of Economics, UK. His recent titles include the books Economic Theories and Crises, and Euro or Drachma? on the choices currently faced by the Greek economy. During 2002-2003, he served as Minister of National Economy and Chairman of the Eurogroup.
Table of Contents
1. Infliction
2. The Fruitless Claim
3. The Impasse Continues
4. The Valuation Mess
5. A Realistic Valuation
6. Negotiation