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The 2009 Greek economic crisis endured deep social, political, and economic pains. Kutlay, in this chapter, argues that the crisis also provided historical opportunity to restructure inefficient state institutions and introduce a new economic regime. The IMF and the EU involved in the design of the reform programs with an unmatched level of bargaining leverage. Despite the presence of a single party government and strong external anchors, Greece decisively plunged into a deadlock in which multi-level blame games have dominated the post-crisis policy-making agenda. Why crisis did not lead to the creation of new winning coalitions and give leeway to a reform-oriented paradigm change? Kutlay offers a political economy account of the Greek crisis and its aftermath to address this question.
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- Greek Crisis and Aftermath (2009–2016)
- Chapter 6
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