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11. The Greek Economy a Decade Later – Constantinos Michalopoulos

Author:
Constantine Michalopoulos
Publication Date:
05-2024
Content Type:
Policy Brief
Institution:
Hellenic Foundation for European and Foreign Policy (ELIAMEP)
Abstract:
The Greek economy has made a remarkable comeback from a decade ago, to the point that the Economist rated it to have performed the best in the OECD in 2023. This paper reviews Greek economic performance over the last ten years and identifies a number of major challenges that remain, despite the progress made. The last part presents an action plan for the next decade in four priority areas: the labor market, social services, migration and savings-investment. In these areas, reforms are urgently needed, if Greece is to achieve sustainable and equitable growth. The analysis concludes that, because of the continued debt burden, successful reforms will require the Greek government to maintain a delicate and difficult balance between fiscal sustainability and taking the necessary measures to support green and inclusive growth.
Topic:
Reform, Economy, Fiscal Policy, Labor Market, and Economic Crisis
Political Geography:
Europe and Greece

12. The CAP between a rock and a hard place: its new challenges and uncertain prospects

Author:
Tassos Haniotis
Publication Date:
10-2024
Content Type:
Policy Brief
Institution:
Hellenic Foundation for European and Foreign Policy (ELIAMEP)
Abstract:
The Common Agricultural Policy (CAP) is currently at a crossroads of a changing world environment which impacts demand (food inflation), supply (energy and input costs) and agri-food trade (geostrategic tensions). EU policies have to address the conundrum of having to simultaneously contribute to mitigating climate change and contributing to food security by accepting that both are global problems and require global solutions. CAP ongoing policy orientation aims at increasing its environmental performance while retaining its economic and social achievements, but excessive targets set by the Farm to Fork Strategy and the impact of changing market conditions brought tensions in the debate between on food security and climate action with respect to priorities on primary agriculture. Higher food costs increasing income inequalities put households in the developed world at a risk of changes in consumer behaviour that are driven by forces exogenous to their tastes and preferences. Addressing misperceptions about the role of productivity, science and trade will impact on how the EU assesses, in a more balanced way and addresses its strengths and weaknesses in the field of agriculture. Despite clear progress of Greek agriculture in recent years three persistent weaknesses of Greek agriculture relate to an uneven and untargeted distribution of direct payments the underestimation of the role of extensive livestock or the absence of a functioning Farm Advisory System.
Topic:
Agriculture, European Union, Food Security, Economy, and Trade
Political Geography:
Europe and Greece

13. The Letta and Draghi Reports: The Only Way to Go, Despite the Hurdles

Author:
Alekos Kritikos
Publication Date:
11-2024
Content Type:
Policy Brief
Institution:
Hellenic Foundation for European and Foreign Policy (ELIAMEP)
Abstract:
The Letta and Draghi reports begin with the same realisation, though they formulate it differently: that the international geopolitical environment has changed dramatically and that the EU must take immediate action as a result. The Letta report’s take-home message is that the Single Market must be transformed into something “much more than just a market”. Thus, research, innovation and education need to be integrated into its core, as a “fifth freedom”, and the Single Market extended to include the telecommunications, energy, financial services and defence sectors. There is fear at the heart of the Draghi report, fear of the “existential challenge” confronting the EU, which will require an extra €800 billion a year in investment. The report’s proposals are articulated around five major horizontal policies: closing the innovation gap, decarbonising the economy and making it more competitive, strengthening security and the defence sector and reducing dependencies in this area, financing investment, and strengthening EU governance. The Letta and Draghi reports agree on both the fields where intervention is required and the form such intervention should take. And while they differ in terms of the competition—and, still more, cohesion—policy they prescribe, they do so constructively while their proposals complement one another. In relation to Greece, the proposals made in both reports with respect to the defence industry, to reducing energy costs, and to the provision of generous funding for additional investment through —inter alia—joint borrowing, are of the utmost importance. No serious disagreement has been voiced with respect to the proposals made in the Letta and Draghi reports, apart from the predictable German reaction to additional funding and new joint borrowing, coupled with unfounded criticism of the proposals as ‘unfeasible’. The “New European Agreement on Competitiveness” adopted in Budapest on 8 November is a critical development, given that it adopts the bulk of the key approaches contained in the Letta and Draghi reports, and sets specific milestones for some, as well. The two reports stress that, even if certain recent developments around the world cannot be considered favourable for the EU (political crisis in Germany, economic problems in France, Trump’s election in the US), Europe still has the “weapons” it needs to reverse the situation. And while the Budapest summit decision may not have gone as far as the situation demands, it still adopted the bulk of the proposals made in the two reports, making it crystal clear that the European Union has taken the need to regain the initiative fully on board.
Topic:
Markets, European Union, Economy, Regional Integration, and Regional Economy
Political Geography:
Europe and Greece

14. The Evolution of Public Opinion in Greece and Turkey (2021-2023): Dynamics and Shifts in Comparative Perspective

Author:
Evren Balta and Ioannis N. Grigoriadis
Publication Date:
01-2024
Content Type:
Working Paper
Institution:
Hellenic Foundation for European and Foreign Policy (ELIAMEP)
Abstract:
ELIAMEP joined forces with IPC with the support of DiaNEOsis to organize the first joint Greek-Turkish public opinion survey series. Five rounds of surveys were conducted concurrently in both countries, exploring cooperation, conflict, nationalism, perceptions, multilateral institutions, and societal linkages. A strong preference was recorded for peaceful means of conflict resolution, with variations in emphasis on bilateral talks and multilateralism. The presence of Turkey in the Greek public sphere is much stronger than the presence of Greece in the Turkish public sphere. Greek views of Turkey are more coherent compared to Turkish views of Greece. Religiosity is a significant indicator of attitudes towards the other side. Both public opinions are sceptic regarding the role of international actors, as there is concern about their bias in favour of the other side. This study is based on the results of the first joint Greek-Turkish public opinion survey series organized by ELIAMEP and IPC and supported by DiaNEOsis. Through its five waves, this survey has identified similarities, differences and dynamics in the views Greeks and Turks have of each other and of Greek-Turkish bilateral disputes; their views about their own country’s position in the world, its relations with the European Union, the United States and Russia; as well as their perceptions of domestic institutions and the future both of their country and of themselves. The study highlights the fact that, despite the escalation in Greek-Turkish relations since 2018, most Greek and Turkish respondents displayed a preference for non-violent means of conflict resolution, even though they disagreed about both the root causes of the bilateral disputes and the appropriate solutions.
Topic:
Bilateral Relations, Public Opinion, Multilateralism, Institutions, and Survey
Political Geography:
Turkey and Greece