Public sector efficiency in the design of a euro-area social benefit scheme

2020 ◽  
Vol 42 (3) ◽  
pp. 615-627 ◽  
Author(s):  
Sijuola Orioye Olanubi ◽  
Oluwanbepelumi Esther Osode ◽  
Abiodun Adewale Adegboye
2013 ◽  
Vol 69 (3) ◽  
pp. 289 ◽  
Author(s):  
Raffaela Giordano ◽  
Pietro Tommasino

Author(s):  
Antonio Afonso ◽  
Alma Romero-Barrutieta ◽  
Emma Monsalve

1998 ◽  
Vol 98 (56) ◽  
pp. 1 ◽  
Author(s):  
International Monetary Fund

Significance Greece's government and voters have delivered a punishing blow to euro-area policies. However, the underlying dilemmas remain unchanged: whether creditors will countenance debt relief, whether the Greek government can produce credible commitments on reform, and whether euro-area leaders can manage their domestic political constraints and divisions. Impacts Without European assistance, Greece faces a period of economic hardship as funds dry up to pay public-sector salaries and pensions. Without ECB liquidity injections to keep the banks operational, they will require recapitalisation. A bail-in of depositors is possible. Otherwise, a raft of bankruptcies is expected among businesses unable to acquire operational financing. The referendum result will encourage anti-austerity eurosceptics elsewhere in the EU.


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