We believe Greek public debt is unsustainable. In our view substantial debt relief is necessary. After Greece successfully exits its current support programme, Europe will determine what kind of debt relief measures it will take. Greece’s current (third) support package was signed in August 2015. The programme lasts three years with a maximum financial support of 86 billion euro. Money is disbursed in tranches. The disbursement of the next tranche depends upon progress made by the Greek government in implementing austerity measures and reforms. So far, Greece has received 40.2 billion euro in the third programme. For now, it is unclear whether Europe will ultimately offer Greece sufficient debt relief to guarantee the country’s public debt sustainability.
Via this link you will find our publications on Greece, since the outbreak of the Greek debt crisis in 2010.