The wall street journal

Europe Owes More to a truth-teller in Athens

In an opinion piece published in the Wall Street Journal—Europe on August 23, 2017 I argue that the Eurozone partners of Greece have been too timid in their support for Mr. Andreas Georgiou, the former head of ELSTAT who restored the credibility and reliability of the Greek statistics following the 2010 financial crisis. You may read my article here


The Pundits’ Flaw About Mr. Trump’s Motives

In a brief commentary in the daily Naftemporiki I explain that most pundits are wrong in the interpretation of the true motives for the US president’s recent stunning remarks.

You may read my article here


The Last Temptation

On May 10, 2010, the Executive Board of the IMF made a mistake that has been the subject of much commentary ever since: to justify a huge loan to Greece (the largest loan in the IMF’s history in terms of a country’s quota), the Board modified its own rules in a hasty and, some observers argued, “surreptitious” manner. Such a harsh criticism reflected the fact that the IMF rules were modified on the same day that the loan to Greece was approved, with little opportunity for the Board to deliberate the consequences of the new legal framework. (more…)

Lucas Papademos

The Attack

Officials and private citizens around the world have condemned the attack of May 25th against Lucas Papademos, former Prime Minister of Greece, as an offense against democratic principles, an act of cowardice, and an intolerable act of terrorism. (more…)

Atlantic Council

Charting the Future Now: European Economic Growth and its Importance to American Prosperity

On March 10, 2017 the Atlantic Council, an influential think tank in Washington D.C., launched a groundbreaking report under the above title, ahead of the sixtieth anniversary of the Treaty of Rome. (more…)

Donald Trump - Hillary Clinton

President-elect Trump

On August 5, 2016 I sent to the NYT the following Letter to the Editor for possible publication:

“The analysis of your August 5 editorial titled ‘The Perils of Writing-Off Mr. Trump’ was spot-on, but your conclusion missed an essential element: Mrs. Clinton should refocus her campaign from jobs, inclusiveness, equality and other lofty policies to a few monikers that best describe her opponent. Some appropriate examples might be “Charlatan Trump”, “Bungler Don”, and “Swindler T.” (more…)


Partners in Crime: The Destructive Role of the Greek Media during the Economic Crisis

In the November 7, 2016 issue of New Europe, I published an article on the destructive role of the Greek media during the economic crisis. My main thesis is that the Greek print, broadcast and online media did not (with very few exceptions) help the average Greek citizen understand the causes of, and the possible resolution to, the crisis that has now affected Greek society for over 6 years. (more…)


Tchaikovsky was gay, too

In the November 5, 2016 issue of The Economist I wrote a Letter to the Editor that refers to a story from the Cold War with protagonist the celebrated American pianist Van Cliburn. You may read my Letter to the Editor here.

You can read the online version here


A Tale of Two Countries: The Rise of Demagogy in Greece and the United States

In an article that was published in the Huffington Post (US edition) on October 10, 2016 I analyze the similarities and differences between the election of Mr. Tsipras as prime minister of Greece in 2015 and the nomination of Mr. Trump as the Republican party’s nominee for the US general election in 2016. (more…)

Alfred Dreyfus

The Dreyfus Affair and the Georgiou Affair

In a blog post on this website dated January 15, 2016 and titled “A Shocking Summary Statistic” I had noted that the prosecution of former Greek chief statistician Andreas Georgiou is an indication of the moral bankruptcy of the contemporary Greek ruling class— politicians, economists, civil servants, parliamentarians and the judiciary (more…)

the washington post

Letter to the Editor of the Washington Post

In a Letter to the Editor of the Washington Post on July 15, 2016 I stated my view about the Editorial Board’s disagreement with Supreme Court Justice Ginsburg’s earlier comments about Mr. Donald Trump. You can read my letter here.

huffington post

The Athens Tram

In an article that appears on on May 9, 2016, I draw a parallel between the Greek economy and the Athens tram and argue that few people have realized that six years ago the Greek economy was placed on rails from which it is nearly impossible to deviate. (more…)

IMF Greece

Greece at a critical crossroads: The role of the IMF and Eurozone partners at the intersection of the economic and the migrant crises

In an Op-Ed article that appeared in New Europe on March 15,  2016 I argue that Greece is now at a critical intersection between the continuing economic crisis and the recent refugee crisis.  The political dimension of the refugee crisis may soon overshadow the economic crisis as the preeminent risk for the cohesion of Europe emanating from Greece. (more…)

Bank of Greece

The Bank of Greece Annual Report to Shareholders

On February 25, 2016, and on the occasion of the Annual Shareholders’ Meeting of the Bank of Greece, Governor Yannis Stournaras delivered a speech on Greece’s recent economic developments and prospects. In it, Governor Stournaras indicated that the outturn of 2015, although still negative, is estimated to have been better than the original estimate, which had reflected the political uncertainty during the first part of 2015 due to the protracted negotiations with the international lenders. (more…)

With students of the Manhasset High School

A Journey of Hope to Manhasset, New York

Last week, at a lecture to a high school in Long Island, New York, I received a large number of pertinent questions on the Greek economic crisis, especially for a presentation attended by a younger audience. The invitation came from the Hellenic Club of the Manhasset High School, and the audience included students, faculty and members of the Manhasset community. So, on January 21, in Manhasset, I found myself impressed by the depth and breadth of the questions posed by the audience. (more…)


A Shocking Summary Statistic

A common definition of the term “summary statistic” is the information that gives a quick and simple description of the data. In true statistical terms it can include mean, median, mode, minimum value, maximum value, range, standard deviation, etc. (more…)

Egypt & Greece

Egypt, Greece and the Arab League

The recent visit to Athens of Egyptian President el-Sisi and the flurry of announcements and press releases regarding the strengthened cooperation between Greece and Egypt reminded me of an incident that took place during my first weeks as a member of the IMF Executive Board. (more…)

yale university

Invited Lecture at Yale University

At the invitation of Prof. Stathis Kalyvas, Arnold Wolfers Professor of Political Science and co-chair of the Hellenic Studies Program (HSP) at Yale University, on November 18, 2015 I gave a lecture entitled Myths and Realities about the Role of the IMF in the Greek Crisis: A View from Within. (more…)


The “honest compromise” is a Dishonest Negotiating Tactic

One of the neologisms of the Syriza government is “honest compromise”. It is related to the term “political solution”, which predates the Syriza administration. Both terms are typically used when Greece nears a deadline for the disbursement of an installment under the bailout program in effect at the time, and they both mean the same thing: Renegotiation of an earlier commitment. (more…)

Council on Foreign Relations

Presentation at the Council of Foreign Relations

On November 2, 2015 I was the lead speaker at a roundtable discussion on Greece that took place at the Council of Foreign Relations (CFR) in Washington, DC. (more…)


The Strategy of the Clueless

A conspiracy governs Greece, one that is perpetrated by the clueless decision makers. Many missteps of the current government (some deplorable, some laughable) are not due to conscious political calculations but, rather, to naiveté, ignorance and inexperience of the decision makers. (more…)

Hellenic Caucus of the US Congress

Stand With Greece: Policy Summit at US Congress

On October 1, 2015 a policy summit on current Greek developments and prospects was organized by the Hellenic Caucus of the US Congress, co-chaired by Hon. Gus Bilirakis (R-Florida) and Hon. Carolyn Maloney (D-New York).  The summit comprised three sessions: (a) Administrative and Business Reform, (b) A View From Greece, and (c) Regional Security Discussion. (more…)


The miracle that didn’t happen

The September 20 elections in Greece had generated the hope that perhaps a miracle might take place. No, I am talking about a possible victory by New Democracy—the massive misinformation by the Syriza spin machine and the traditionally impressionable Greek electorate had all but ruled that possibility. (more…)

Συνομιλητές των διεθνών πιστωτών

Sciolism, Extra-Ordinary Powers, and the Importance of a Broad Coalition: Part Two

Not surprisingly, my blog post of September 10, 2015 on myths and truths of the Greek crisis (and the underlying essay with the same title) generated several perceptive and well-argued comments about the analysis and my recommendations. (more…)

Sciolism in an Era of Specialization

Myths, Misinformation and Truths about the Greek Crisis: Sciolism in an Era of Specialization

With the third bailout program under way, and the new general elections now scheduled for September 20, many analysts reasonably wonder “What will be different this time?” Without a dramatic change in Greece’s political decision-making, the answer is “nothing”, because the principal decision- makers are beset by ignorance and are supported by media that continue to feed myths and misinformation about the origin, developments and possible resolution of the Greek economic crisis. (more…)


The End of the Beginning

The Syriza government came to power in January 2015 with a determined, forceful and vocal campaign to do away with the “austerity program imposed by the Troika” on Greece and to reverse major policies introduced by the previous government in the course of the bailout program. (more…)