Experience Stern | Faculty & Research

Since the Greek debt crisis began in 2009, Professor Nicholas Economides has been studying the country’s economic and political landscape. His research has earned the respect of the finance minister, prime minister and other government leaders with whom he has close ties. In February, in an op-ed published in the Greek publication Kathimerini (English version), Professor Economides considered the ongoing debt, structural problems and lack of competitiveness in Greece, and he outlined steps Greece could take in 2014 to effectively tackle its debt burden. As a key course of action, he recommended that Greece re-enter the world financial markets prior to the May 2014 European elections by issuing five-year bonds at a 5.5 to 6.0 percent interest rate. On April 17, 2014, Greece did just that, issuing five-year bonds at a 4.95 percent yield. The issuance was widely viewed as a very successful re-entry to the market, after the country’s four-year exile.

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Nicholas Economides is a Professor of Economics.