Costas Simitis
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The new agreement with the Eurozone (the second Memorandum) and private sector involvement
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The chapter discusses the negotiation of Greece’s second Memorandum which accompanied the country’s additional financing, worth 130 billion Euros. It is argued that the three parties supporting the government were excessively preoccupied with partisan self-interest, thus undermining the credibility of the country’s negotiating strategy with its creditors. Mistrust towards Greece was epitomised by German suggestions that the EU should appoint a Commissioner with executive powers over the drafting of the Greek budget.

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The European debt crisis

The Greek case

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