A Win-Win Route Out of the Greek Debt Crisis

By on May 11, 2015

A new article by Center Director Lester Salamon, published today in the May-June edition of The World Financial Review, takes a look at a novel solution to the on-going Greek debt crisis. Rooted in his work exploring a phenomenon he calls “Philanthropication thru Privatization,” this solution looks at a way that at least a portion of the staggering Greek debt might be transformed into an engine of economic development, and in turn, might help make it possible for Greece to eventually payoff the remaining portion of its debt – a possible win-win solution for both sides of the divide. Below is a brief excerpt from the article. Please click here to download the full article.
 
 
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Excerpted from the May-June 2015 issue of The World Financial Review:

Two things have become clear in the Greek debt crisis. First, Greece’s creditors cannot afford to allow Greece to default on its debt and withdraw from the Euro. But second, Greece cannot afford to fulfill its existing debt obligations. Yet, defaulting on the debt or requiring Greece to fulfill all the terms of its existing debt obligations appear to be the only two options Greece and its creditors, respectively, so far seem to have come up with. So the deadlock persists.

Fortunately, however, a win-win route out of this impasse exists. It is a route that has been used multiple times in similar situations for more than 30 years all over the world and with generally quite positive results. It is a route that Germany, the European nation most insistent on holding Greece to the full terms of its debt obligations, used to good advantage in relieving Poland’s first post-Communist government from the terms of a jumbo loan its predecessor regime had secured from Germany five years earlier and promptly found itself unable to repay. In the process, Germany won the new Polish government’s agreement not to contest the re-unification of Germany and to finance the Foundation for Polish-German Cooperation that has pacified the once-fractious German-Polish border region.

And it is a route that Germany has used on at least 19 other occasions since 1993 to relieve such nations as Indonesia, Jordan, the Philippines, Peru, and Madagascar of crushing debt burdens through the multi-lateral Highly Indebted Poor Country (HIPC) initiative and other bilateral actions managed by the German Federal Ministry for Economic Cooperation and Development (‘BMZ’).
 
Nor is Germany alone in taking this compromise route…

 
Please click here to continue reading.
 
 

Posted in: Media & outreach, Op-Eds, PtP

Statement from Lester Salamon on the recent events in Baltimore

By on May 1, 2015

A number of you have been kind enough to express concern about the health and safety of all of us at the Johns Hopkins Center for Civil Society Studies following the reports of violence and looting in Baltimore earlier this

Cameroon releases its first NPI satellite account, providing inspiration for other countries

By on January 29, 2015

Cameroon became only the third African country to complete a satellite account on nonprofit institutions and volunteering since the 2003 publication of the UN Handbook on Nonprofit Institutions in the System of National Accounts. The only other African countries to

Statistics Norway releases nonprofit funding data for the first time

By on January 22, 2015

Statistics Norway recently released an updated report on its satellite account on nonprofit institutions (NPIs), resulting from their continued implementation of the UN Handbook on Nonprofit Institutions in the System of National Accounts. For the first time, this report includes

Into the New Year: The Center for Civil Society Studies and the Global Sustainability Agenda

By on January 13, 2015

In 2012, the United Nations began to explore how best to build upon its Millennium Development Goals, the set of objectives that has guided international development work over the past 15 years. With environmental degradation and global warming increasingly prominent

A Brave New World of Social Purpose Finance

By on December 8, 2014

This is the title of a new article in the November/December 2014 issue of The World Financial Review in which Center Director Dr. Lester Salamon examines the remarkable changes taking place in social purpose finance today. Below is a brief

Blog post series by William Burckart highlights “New Frontiers of Philanthropy”

By on November 24, 2014

New Frontiers of Philanthropy (Oxford University Press, 2014), an omnibus text examining the innovations taking place in the philanthropic field edited by Center Director Lester Salamon, is discussed in a new series of blog posts by New Frontiers contributing author

Revision of the UN Nonprofit Handbook underway

By on October 25, 2014

  In 2002, the Johns Hopkins Center for Civil Society Studies partnered with the United Nations Statistics Division and an international team of statistical experts to develop the first UN Handbook on Nonprofit Institutions in the System of National Accounts.

Italy releases nonprofit census data, shows tremendous sector growth

By on October 20, 2014

Recently released data from the Italian National Institute for Statistics (ISTAT) 2011 Census of Nonprofit Institutions shows that the country is home to more than 300,000 nonprofit organizations, which represents a remarkable 28 percent increase since the last census was

NEWS RELEASE | A “win-win” solution for transforming the philanthropic landscape of the world

By on October 1, 2014

FOR IMMEDIATE RELEASE   With the resources and capabilities of governments and private charity barely growing or in decline around the world, yet the problems of poverty, ill-health, and environmental degradation ballooning daily, it is increasingly clear that new energies,

NEWS RELEASE | Two new books from Lester Salamon explore the revolution under way on the frontiers of philanthropy and social investment

By on September 22, 2014

Oxford University Press and Lester Salamon Announce Two New Books: NEW FRONTIERS OF PHILANTHROPY and LEVERAGE FOR GOOD  FOR IMMEDIATE RELEASE Contact: Chelsea Newhouse   With the resources of both governments and traditional philanthropy barely growing or in decline while

New data on volunteering in Italy

By on August 5, 2014

Italy is the latest country to implement the ILO Manual on the Measurement of Volunteer Work, allowing the Italian National Institute of Statistics (Istat) to collect national-level data on the amount and character of volunteering in Italy.   The survey

Two important volunteering policy developments

By on March 10, 2014

by Megan Haddock, Johns Hopkins University In recent months, there have been two important developments in volunteering policy that will impact the ongoing efforts to highlight volunteer labor in Europe and around the world.   First, the International Labour Organization

Westchester County Nonprofits: A Major Economic Engine

By on March 5, 2014

Today, we are pleased to release a new report highlighting the crucial role played by nonprofits in New York’s Westchester County.   The report, produced by our Nonprofit Economic Data Project in collaboration with Nonprofit Westchester with funding from the

Beating the Odds: The Center in 2013

By on December 19, 2013

According to Viking tradition, Loki, the uninvited 13th guest at a banquet of gods in Valhalla, orchestrated the assassination of Balder the Beautiful, the god of joy and goodness. Reflecting this and similar stories, folkloric traditions around the world have

Meet Dr. Yuanfeng Zhang, Fall 2013 International Philanthropy Fellow

By on December 9, 2013

The Johns Hopkins International Fellows in Philanthropy Program is a highly-selective program that welcomes one or two researchers from outside the U.S. to spend one or more semesters at our Center to conduct independent research on an aspect of the

Meet Tatsuaki Kobayasi, 2012-2013 International Philanthropy Fellow

By on December 3, 2013

The Johns Hopkins International Fellows in Philanthropy Program is a highly-selective program that welcomes one or two researchers from outside the U.S. to spend one or more semesters at our Center to conduct independent research on an aspect of the

Nonprofits are: EMPOWERING

By on November 6, 2013

This post is one in a series exploring each of the seven attributes – being productive, empowering, effective, enriching, reliable, responsive, and caring – revealed in the Listening Post’s Nonprofit Values Survey in detail. Please visit the Nonprofit Values overview

Philanthropication thru Privatization: A way to build charitable assets?

By on September 30, 2013

I had the good fortune to be called out by name recently by celebrated Economist Magazine columnist Matthew Bishop for having put together his “dream conference” combining his “two favorite themes: privatization and philanthrocapitalism.”   The occasion for this comment

SAVE THE DATE: A discussion about the Future of Nonprofit America in NYC

By on July 22, 2013

On October 29th, please join us at the Foundation Center in New York as Center Director Lester Salamon hosts a panel discussion about where the nonprofit sector is heading, what its best path forward might be, and what it will

SAVE THE DATE: A discussion about the Future of Nonprofit America in Washington, DC

By on July 22, 2013

On October 17th, please join us at the Aspen Institute in Washington DC as Center Director Lester Salamon hosts a panel discussion about where the nonprofit sector is heading, what its best path forward might be, and what it will

Nonprofits are: ENRICHING

By on May 6, 2013

This post is one in a series exploring each of the seven attributes – being productive, empowering, effective, enriching, reliable, responsive, and caring – revealed in the Listening Post’s Nonprofit Values Survey in detail. Please visit the Nonprofit Values overview

The results are in: Statistics Portugal’s Survey on Volunteer Work for 2012

By on May 3, 2013

More than one in 10 adults in Portugal gives their time to volunteer activities, Statistics Portugal reports.   The volunteer rate of people that participated in a volunteer activity either through an organization or directly for other individuals is estimated

Productive, Responsive, and Caring: Highlighting 3 Nonprofit Values

By on April 8, 2013

In December of 2012, we released a major report highlighting seven values that nonprofit leaders agreed were vital to the sector. This report was based upon a survey of 1500 nonprofit organizations around the U.S. conducted by our Listening Post

NEWS RELEASE | The State of Global Civil Society & Volunteering – Latest findings from the implementation of the UN Nonprofit Handbook

By on March 11, 2013

  Today, we are happy to announce the release of our new report, “The State of Global Civil Society and Volunteering – Latest findings from the implementation of the UN Nonprofit Handbook,” which compares data from the 16 countries that