Search results

The purpose of this study is to examine the odious debt concept in Greece. In Greece, the odious debt concept received high attention during recent financial crisis and Greek or Hellenic Parliament decided to establish a Special Committee.

The Greek Parliament Truth Committee on Public Debt investigated the public debt in Greece, and the main findings are: increase of debt was related to the growth in interest payments, high public spending in defence expenditures associated with corruption scandals, falsification of public deficit and debt statistical data and illicit capital outflows and adopting the euro led to a drastic increase in private debt.

Based on above the third Memoranda of Understanding (MoU) and the August 2015 loan agreement, according to Greek Parliament Truth Committee on Public Debt are illegal, illegitimate and odious because they fail to recognize the odious character of Greece’s existing debt, and the nature of the instruments by which this debt was financed from 2010 until early 2015. The Third MoU and the August 2015 loan agreement violate the fundamental human rights of the Greek people (both civil and political as well as socio-economic rights) as set out in the Greek Constitution and under international law (treaty-based and customary).

On the other side of results, Greece was a democratic regime during the time it contracted the vast majority of its loans and membership into the Eurozone, which benefitted country by gaining the highly low interest rates that euro currency involved. Also, substantial borrowing for Greece spent directly on the people via social welfare and public sector wages and infrastructure development.

Therefore, Greece, instead of the odious debt doctrine, should resort to other debt solutions such as simple debt repayment, restructuring or “haircut” of the debt (principal and interest) or declare bankruptcy without invoking the odious debt doctrine. Although this recourse avoids the dangerous precedent-setting risks of the odious debt doctrine, it also involves numerous other complexities and policy problems because with default, the banking system would collapse.

It is the first study examining the topic of odious public debt in Greece.

The crisis exposed Greek municipalities to bilateral financial pressures from cutbacks and increased needs for social assistance. They were directly affected by cheese-slice austerity measures that were implemented in the whole public sector (hiring freeze, cutbacks of salaries, dismissal of employees on contract basis) and successive cutbacks of state grants. In this chapter we discuss the case of four Greek municipalities. The sample was selected by taking into account the average financial performance of municipalities in terms of accrual accounting surplus/deficit over operating revenues and the volatility of this measure of financial performance over the period 2002–2012. In all four municipalities, interviews with an elected politician and municipal officials were conducted on the basis of a structured questionnaire that has been given to the interviewees before the meeting. The analysis revealed that all cities did not show significant anticipatory capabilities. This might be due to several shocks related to central government policies that were difficult to predict and to the ambiguity of the financial condition in the country. Municipalities proved to be particularly flexible and open towards social innovation and responded to the crisis through adaptation but they exhibited limited internal transformation. Nevertheless, the shock due to the crisis and the unprecedented decrease in municipal budgets has triggered a cultural shift towards more prudent management and parsimony. These findings show that Greek municipalities are still rather vulnerable to future shocks and especially to a further deepening of the on-going financial crisis.

Explores comparisons between the English and Greek local government systems, in the hope of offering some fresh insights into the regeneration and management of local areas.

Discusses the issue of local political leadership at a time when changes in local political management arrangements are taking place in many European countries.

The English and Greek experiments with developing local self‐government provide some reassurance and some causes for concern but, above all, they demonstrate that in, unitary states, Ministers and Civil Servants at the centre find withdrawing from interference in local affairs a very hard exercise in self‐denial.

Illustrates the problems facing two centralised countries struggling with varying but limited success to cope with various public management issues raised by local devolution and decentralisation.

Governments globally are adopting e-Government services to streamline administrative processes and meet citizens' expectations. This study investigates e-Government service quality from citizens' perspectives in 50 Greek municipalities, using the technology acceptance model (TAM) and cognitive theory.

The data from 707 respondents across 50 Greek municipalities are analyzed using structural equation modeling (SEM), ANOVA and moderation analysis. The study assesses the relationships between key factors and citizens' intentions to use e-Government services, examining the impact of demographics and the digital divide.

The study reveals that perceived attractiveness (PA), perceived usefulness (PU), perceived ease of use (PEOU) and awareness (AWA) significantly influence citizens' behavioral intentions (BINTs) toward municipal e-Government services. Interestingly, PEOU negatively impacts users' intentions, suggesting dissatisfaction with portal attractiveness and utility. The study explores the influence of demographic variables and the digital divide on citizens' BINTs, highlighting economic activity and income as crucial determinants.

The study emphasizes the significance of user-friendly design, PU, PEOU and AWA campaigns for the development of effective e-Government platforms. Strategies to address the digital divide and promote citizen engagement are essential for enhancing user experience, service utility and AWA, ultimately fostering a positive attitude toward e-Government.

Addressing demographic differences ensures inclusive e-Government systems, while bridging the digital divide promotes equitable service delivery and citizen engagement.

This research provides insights into factors influencing citizens' BINTs toward e-Government services. The study's examination of demographic attributes and the digital divide enhances understanding, contributing to the development of citizen-centric e-Government services and supporting inclusive digital transformations.

Freed from the repressive influence of military government, the Greek economy is steering away from dependence on foreign investment and tourism towards industrial self‐sufficiency. It's a move which presents big opportunities for capital goods exporters. But, as Dave Grayston reports, Britain is hesitant about taking up the challenge.

This study examines specific budget execution items (as proxies of vulnerability and sustainability) along with political factors to identify earnings management (EM) practices in Greek municipalities.

The study employs a sample of 1,831 financial and budget execution statements for the period 2011–2019. EM is proxied by unsigned discretionary accruals that are assessed through the performance-matched modified-Jones model and the modified-Jones model.

The findings provide evidence that the municipality’s dependence on subsidies (or its self-sufficiency) affects EM, especially during the pre-election year. Municipalities that maintain their financial autonomy engage less in EM in pre-election years. Lastly, it is proven that electoral cycles, weak opposition and other variables exert an effect on the size of EM. Sensitivity analysis confirms the results.

This paper contributes to the literature on EM by analyzing for the first time budget execution items (as proxies of vulnerability and sustainability) and their impact on the size of unsigned discretionary accruals.