A plan for Greece to exit the euro currency

February 15, 2017 - Athens

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On February 15 in Athens, the European Research Network on Social and Economic Policy (EReNSEP) will present substantiated proposals for a possible change of course in Greece. A change that may take the country out of its current economic path of death, as long as there is will and specific strategy.

A campaign of exaggeration and fear exercised by various Greek and foreign centers of power, had grown the perception that "rescue" programs is the one-way solution for Greece. The complete turn of SYRIZA on summer 2015, allowed the old political system and the dominant circles to claim that it has been "proved" that there no option other than the memorandums.

In the EReNSEP study it is highlighted that there is another course, which is necessary for the country. Such a course presupposes that Greece will regain currency sovereignty. The short-term problems expected to arise due to the exit from the eurozone can be handled, as long as there is a minimum planning, preparation and determination.

Specifically, a process for the exit of Greece from the eurozone is described analytically, towards an overall reshaping of the economic and social policies. In short-term, the country needs to boost demand with the sector of services at the epicenter. In mid-term, it needs an industrial policy for growth, creation of jobs and rise of income.

Specifically, in the study:

• The necessary steps that Greece must take for the purpose of minimizing the cost of retaking the currency sovereignty, are described.

• The most significant implications, including inflation, are analyzed.

• The perspective of the change of fiscal policy for the reduction of unemployment, is analyzed.

• The basic factors of industrial policy in connection with the agricultural sector for the transition of the country into a situation of viable growth, are examined.

• The course of the labor market through the deregulation of the labor affairs, the rise of unemployment and part-time jobs, is described.

• The international position of the Greek economy, imports-exports and mostly the outflows abroad, are analyzed.

Speakers:

• Costas Lapavitsas, Professor of Economics at the School of Oriental and African Studies, University of London

• Theodore Mariolis, Professor of Political Economy in the Department of Public Administration at Panteion University of Social and Political Sciences in Athens, Greece

• Constantinos Gavrielides, Regional Councilor in the Regional Council of Western Greece and member of the Economic Committee of the Region of Western Greece

• Stefano Fassina, Economist and politician, member of the Chamber of Deputies and former member of the Italian Democratic Party

• Sergi Cutillas, Economist researcher at Ekona Research Center, member of the Observatory on Debt in Globalization and activist in the Plataform for a Citizen Audit of the Debt (PACD)

Source:

erensep.org