Will Greece Reach a Deal?

{
  "authors": [
    "Uri Dadush"
  ],
  "type": "legacyinthemedia",
  "centerAffiliationAll": "",
  "centers": [
    "Carnegie Endowment for International Peace"
  ],
  "collections": [],
  "englishNewsletterAll": "",
  "nonEnglishNewsletterAll": "",
  "primaryCenter": "Carnegie Endowment for International Peace",
  "programAffiliation": "",
  "programs": [],
  "projects": [],
  "regions": [
    "Western Europe",
    "North America"
  ],
  "topics": [
    "Economy"
  ]
}

In The Media

Will Greece Reach a Deal?

Despite delays, the Greek rescue package will almost certainly be approved in the coming days. Whether or not the deal will prove to be sustainable is a much more difficult question.

By Uri Dadush

Published on Feb 14, 2012

Source: BBC Radio 5

Though talks between the European Union and Greece have hit a snag, the rescue package will almost certainly be approved in the coming days, Carnegie’s Uri Dadush told the BBC in an interview. The delay should not jeopardize the negotiations, but instead represents one more protest against the profoundly unpopular program being demanded by the EU and IMF.

Nevertheless, the problems will not end once the agreement is signed. "The Greek program is a disaster," said Dadush. Not only has Greek unemployment increased sharply, but budget deficit is also not being reduced at the pace that was expected and the exports are showing no signs of turning around. Dadush concluded that the “big concern is not whether the deal will be signed, but whether the deal is in fact sustainable” because the severe cuts will push the economy even deeper into recession.

About the Author

Uri Dadush

Former Senior Associate, International Economics Program

Dadush was a senior associate at the Carnegie Endowment for International Peace. He focuses on trends in the global economy and is currently tracking developments in the eurozone crisis.

Recent Work

Commentary
The Labors of Tsipras
- Uri Dadush
In The Media
Greece, Complacency, and the Euro
- Uri Dadush

Economy Western Europe North America

Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.

More Work from Carnegie Europe

Article
Rewiring the South Caucasus: TRIPP and the New Geopolitics of Connectivity
The U.S.-sponsored TRIPP deal is driving the Armenia-Azerbaijan peace process forward. But foreign and domestic hurdles remain before connectivity and economic interdependence can open up the South Caucasus.
Thomas de Waal, Areg Kochinyan, Zaur Shiriyev
Commentary
Strategic Europe
Is France Shifting Rightward?
The far right failed to win big in France’s municipal elections. But that’s not good news for the country’s left wing, which remained disunited while the broader right consolidated its momentum ahead of the 2027 presidential race.
Catherine Fieschi
Commentary
Is the Radical-Right Threat Existential or Overstated?
Amid increased polarization and the influence of disinformation, radical-right parties are once again gaining traction across Europe. With landmark elections on the horizon in several countries, are the EU’s geostrategic vision and fundamental values under existential threat?
Catherine Fieschi, Cas Mudde
Research
Planetary vs International Security: Economic Growth at the Crossroads
Economic growth is at the heart of a dilemma between planetary and international security.
Olivia Lazard
Commentary
Strategic Europe
Europe and the Arab Gulf Must Come Together
The war in Iran proves the United States is now a destabilizing actor for Europe and the Arab Gulf. From protect their economies and energy supplies to safeguarding their territorial integrity, both regions have much to gain from forming a new kind of partnership together.
Rym Momtaz

More Work from Carnegie Europe

Article

Rewiring the South Caucasus: TRIPP and the New Geopolitics of Connectivity

The U.S.-sponsored TRIPP deal is driving the Armenia-Azerbaijan peace process forward. But foreign and domestic hurdles remain before connectivity and economic interdependence can open up the South Caucasus.

Thomas de Waal, Areg Kochinyan, Zaur Shiriyev

Commentary

Strategic Europe

Is France Shifting Rightward?

The far right failed to win big in France’s municipal elections. But that’s not good news for the country’s left wing, which remained disunited while the broader right consolidated its momentum ahead of the 2027 presidential race.

Catherine Fieschi

Commentary

Is the Radical-Right Threat Existential or Overstated?

Amid increased polarization and the influence of disinformation, radical-right parties are once again gaining traction across Europe. With landmark elections on the horizon in several countries, are the EU’s geostrategic vision and fundamental values under existential threat?

Catherine Fieschi, Cas Mudde

Research

Planetary vs International Security: Economic Growth at the Crossroads

Economic growth is at the heart of a dilemma between planetary and international security.

Olivia Lazard

Commentary

Strategic Europe

Europe and the Arab Gulf Must Come Together

The war in Iran proves the United States is now a destabilizing actor for Europe and the Arab Gulf. From protect their economies and energy supplies to safeguarding their territorial integrity, both regions have much to gain from forming a new kind of partnership together.

Rym Momtaz