The Greek Crisis

Course Information
TitleThe Greek Crisis / The Greek Crisis
CodeΚΕ0Ε46
FacultyEconomic and Political Sciences
SchoolPolitical Sciences
Cycle / Level1st / Undergraduate, 2nd / Postgraduate
Teaching PeriodSpring
CoordinatorSpyros Marchetos
CommonYes
StatusActive
Course ID600014092

Programme of Study: UPS School of Political Sciences (2014-today)

Registered students: 13
OrientationAttendance TypeSemesterYearECTS
CoreElective CoursesSpring-4

Class Information
Academic Year2019 – 2020
Class PeriodSpring
Faculty Instructors
Weekly Hours3
Class ID
600145388
Course Type 2011-2015
Specific Foundation / Core
Mode of Delivery
  • Face to face
Digital Course Content
Erasmus
The course is also offered to exchange programme students.
Language of Instruction
  • Greek (Examination)
  • English (Instruction, Examination)
  • French (Examination)
  • Italian (Examination)
Prerequisites
General Prerequisites
No special prerequisites, beyond critical thought and the expected interest in politics, economics, and history.
Learning Outcomes
On successfully completing this course, students will have learnt basic facts about the current crisis in Greece, its implications for European governance, and also the main theories pertaining to explain it. They will be able to analyse its parametres and trace its causes, its social, political, and economic consequences, and its possible outcomes. Also, to assess the role of political management by the Greek government and the EU institutions during the development of the crisis. Finally, to demystify racist stereotypes developed since the onset of the crisis against Greeks and other peoples in the European Union periphery.
General Competences
  • Apply knowledge in practice
  • Retrieve, analyse and synthesise data and information, with the use of necessary technologies
  • Adapt to new situations
  • Make decisions
  • Work autonomously
  • Work in teams
  • Work in an international context
  • Work in an interdisciplinary team
  • Generate new research ideas
  • Respect natural environment
  • Demonstrate social, professional and ethical commitment and sensitivity to gender issues
  • Be critical and self-critical
  • Advance free, creative and causative thinking
Course Content (Syllabus)
In this course we study, from the perspective of contemporary history, the interwoven aspects of the financial, economic, political and humanitarian crisis that broke out in Greece in 2010 and continues unabated to the present day. The course has no special prerequisites, beyond critical thought and the expected interest in politics, economics, and history. First we examine its historical framework, and the riots of December 2008. We then focus on its ramifications and impact on Greek society, public life, and personal experience of the persons living in Greece.We study the local and international economic developments and political choices that led to the default of the Greek state, as well as its institutional repercussions in the European Union. Placing it in the context of current geopolitical struggles, we trace the factors that facilitated its development as well as those that hindered it, in comparative perspective with other countries on the periphery of the European Union. Focussing on institutions, political and financial groups, and persons that played significant roles in its unfolding, we highlight the political discourses developed in its context. Finally, we study critically the various theories that developed in order to explain and interprete the crisis. On successfully completing this course, students will have learnt basic facts about the current crisis in Greece, its implications for European governance, and also the main theories pertaining to explain it. They will be able to analyse its parametres and trace its causes, its social, political, and economic consequences, and its possible outcomes. Also, to assess the role of political management by the Greek government and the EU institutions during the development of the crisis. Finally, to demystify racist stereotypes developed since the onset of the crisis against Greeks and other peoples in the European Union periphery. Lesson contents 1. Basic terms: Greece, European Union, Eurozone, NATO, Capitalist World-system, Capitalist Mode of Production, Debt, Financialisation, Expropriatory Accumulation, Fascism, Syriza, Left, Right, Extreme Right. 2. Historical and Geographical Background. Greek Politics and International Tensions. 3. The Greek crisis and Eurozone Governance. 4. Social and Political Causes and Consequences of the Economic Crisis in Greece. 5. The Debt Truth Committee of the Hellenic Parliament. 6. Syriza, the Rise of the Oligarchs, and the Extreme Right. 7. Sovereignty, Geopolitical Dislocations, and International Aspects of the Greek Crisis. 8. EU, USA, Russia, and China. Interests and Influence in Greece.
Keywords
Greece, Balkans, Turkey, European Union, Eurozone, Capitalist World-system, Capitalist Mode of Production, Expropriatory accumulation, Financial Crisis, Economic crisis, Democracy, Oligarchy, Financialisation, Nationalism, Public Debt, Fascism, Extreme Right, Left, Syriza
Educational Material Types
  • Multimedia
  • Book
Use of Information and Communication Technologies
Use of ICT
  • Use of ICT in Course Teaching
Course Organization
ActivitiesWorkloadECTSIndividualTeamworkErasmus
Lectures60.2
Seminars331.2
Reading Assigment692.5
Exams20.1
Total1104
Student Assessment
Description
The requirement to get the 4 ECTS is to participate in the June written exams and answer decently, in about two pages, to two general questions on matters discussed during our course. Examinations are taken in Greek, English, French, or Italian. They include three separate questions, which must all be answered. The first two ones, needing lengthier answers, require the use of historical judgment; the third one checks your knowledge of pragmatological matters, and must be answered in order to get the grade 'excellent' (9 or 10 out of 10). Answers must be given in a clear logical structure, with articulated argumentation. They must combine relevant elements from the materials of our Course and the lectures attended, as well as from your general knowledge and your interaction with current affairs. They must show that you studied in depth the issues that we examine in this Course, exercising your judgment and avoiding the use of cliches, stereotypical expressions, or generalities. Essays marked with the grade 'excellent' show a critical spirit and are characterised by clarity and concision. A passing grade requires proven knowledge of the basic pragmatological elements of our Course. Essays not showing a serious study of the required texts fail.
Student Assessment methods
  • Written Exam with Extended Answer Questions (Summative)
Bibliography
Course Bibliography (Eudoxus)
1. Heiner Flassbeck, Costas Lapavitsas, Against the Troika. Crisis and Austerity In The Eurozone, foreword Oskar Lafontaine, preface Paul Mason, afterword Alberto Garzón Espinosa, Verso, London, New York 2015. 2. Costas Lapavitsas, Theodore Mariolis, Constantinos Gavrielides, Eurozone Failure, German Policies, and a New Path For Greece. Policy Analysis And Proposals, Rosa Luxemburg Stiftung, Berlin 2017. 3. Truth Committee on Public Debt, Preliminary Report. June 2015, Hellenic Parliament, Athens 2015. 4. Truth Committee on Public Debt, Illegitimacy, Illegality, Odiousness and Unsustainability of the August 2015 MoU and Loan Agreement, Hellenic Parliament, Athens 2015.
Additional bibliography for study
Supplementary Bibliography / Βιβλιογραφία για μελέτη Perry Anderson, The New Old World, Verso, London, Νew York 2009. Alexander Anievas, Kerem Nişancıoğlu, How the West Came to Rule: The Geopolitical Origins of Capitalism, Pluto Press, London 2015. Bastiaan van Apeldoorn, "Saving Europe for Whom? The Crisis of Neoliberal European Socio-Economic Governance", EUI Alumni Conference, Firenze 2011. Ilias Bantekas, Cephas Lumina (eds.), Sovereign Debt and Human Rights, Oxford University Press, Oxford 2018. Norberto Bobbio, Left and Right. The Significance of a Political Distinction, Translated and Introduced by Allan Cameron, The University of Chicago Press, Chicago 1996 [1994]. Nicos Christodoulakis, Germany’s War Debt to Greece. A Burden Unsettled, Palgrave Macmillan, Houndmills, New York 2014. Bernard Connolly, The Rotten Heart of Europe. The Dirty War for Europe's Money, Faber and Faber, London, Boston 1995. Tassos Giannitsis, Stavros Zografakis, Greece: Solidarity and Adjustment in Times of Crisis, Institut für Makroökonomie und Konjunkturforschung/ Macroeconomic Policy Institute, March 2015, at https://goo.gl/YgDtV8. Michael Hudson, Super Imperialism. The Origin and Fundamentals of U.S. World Dominance, Pluto Press 2, London, Sterling VA 2003 [1972]. Michael Hudson, The Bubble and Beyond. Fictitious Capital, Debt Deflation and Global Crisis, ISLET-Verlag, Dresden 2012. International Monetary Fund, IMF Country Report No.16/130, Greece. Preliminary Debt Sustainability Analysis. Updated Estimates And Further Considerations, International Monetary Fund Publication Services, Washington, September 2016. Greta R. Krippner, Capitalizing on Crisis, The Political Origins of the Rise of Finance, Harvard University Press, Cambridge Massachusetts, London, 2011. Costas Lapavitsas, A. Kaltenbrunner, G. Lambrinidis, D. Lindo, J. Meadway, J. Michell, J.P. Painceira, E. Pires, J. Powell, A. Stenfors, N. Teles, The Eurozone Between Austerity and Default, RMF Occasional Report September 2010, London 2010. Costas Lapavitsas (ed.), Financialisation in crisis, Brill, Leiden, Boston 2012. Costas Lapavitsas, Profiting Without Producing. How Finance Exploits Us All, Verso, London, Νew York 2013. Domenico Losurdo, War and Revolution: Rethinking the Twentieth Century, translation Gregory Elliott, Verso, London 2015 [1998]. Alan S. Milward, George Brennan, Federico Romero, The European Rescue of the Nation-State, Routledge 2 London New York 2000. Alan S. Milward, Politics and Economics in the History of the European Union, Routledge, Abingdon, New York 2005. Michalis Nikiforos, Dimitri B. Papadimitriou, Gennaro Zezza, The Greek Public Debt Problem, Levy Economics Institute Working Paper No. 867, Levy Economics Institute of Bard College, Annandale-on-Hudson May 2016. Kees van der Pijl, Global Rivalries From The Cold War To Iraq, Pluto Press, London, Ann Arbor 2006. Helena Sheehan, The Syriza Wave. Surging and Crashing with the Greek Left, Monthly Review Press, New York 2016. Wolfgang Streeck, Buying Time: The Delayed Crisis of Democratic Capitalism, translation Patrick Camiller, Verso, London, Νew York 2014. Jan Toporowski, Why the World Economy Needs a Financial Crash and Other Critical Essays on Finance and Financial Economics, Anthem Press 2010. Eric Toussaint, Your Money or Your Life! The Tyranny of Global Finance, translation Raghu Krishnan, Vicki Briault Manus, Pluto Press, London 1999. Emmanuel Todd, After the Empire. The Breakdown of the American Order, foreword Michael Lind, translation C. Jon Delogu, Columbia University Press, New York 2003 [2002]. Immanuel Wallerstein, Randall Collins, Michael Mann, Georgi Derluguian, Craig Calhoun, Does Capitalism Have a Future?, Oxford University Press, Oxford, New York 2013. Immanuel Wallerstein, World-Systems Analysis. An Introduction, Duke University Press, Durham, London 2004. Articles / Άρθρα Anna Gelpern, “Odious , Not Debt”, Law And Contemporary Problems 70:81 [2007], pp.81-114. David Harvey, "Is This Really the End of Neoliberalism?", Counterpunch 13-15 March 2009, at http://www.counterpunch.org/2009/03/13/is-this-really-the-end-of-neoliberalism/21 . David Malone, "Twilight of Justice", Golem XIV, 26 Μarch 2013. Ellen Meiksins Wood, "Modernity, postmodernity or capitalism?", Review of International Political Economy 4:3 [1997], pp. 539-560. Nikiforos, M., L. Carvalho, C. Scroder. 2015. “Twin deficits in Greece: In search of causality.” Journal of Post Keynesian Economics 38(2): 302–30. Wolfgang Streeck, "Markets and Peoples. Democratic Capitalism and European Integration", New Left Review 73 [January-February 2012]. Wolfgang Streeck, "Why Europe Can't Function as it Stands", translated by Flossie Draper, November 7th, 2016, available at http://www.versobooks.com/blogs/2926-wolfgang-streeck-why-europe-can-t-function-as-it-stands Olivier Berruyer, "La servitude volontaire de la France. Interview of Emmanuel Todd for the French website les crises.fr", translated by Anne-Marie de Grazia Olivier, available at http://www.les-crises.fr/todd-1-la-servitude-volontaire-de-la-france/ Websites / Ιστοσελίδες Wall Street Journal: http://graphics.wsj.com/greece-debt-timeline/
Last Update
26-11-2020