This 2005 Article IV Consultation highlights that economic growth in Greece has been strong for several years, underpinned by a large fall in interest rates owing to adoption of the euro and subsequent European Central Bank easing. In 2005, the authorities implemented substantial fiscal...

This 2006 Article IV Consultation highlights that economic growth of Greece has been strong for several years, underpinned by a rapid increase in private sector credit, following the liberalization of the financial sector and the sharp drop in interest rates. In 2006, real GDP rose by an...

This 2009 Article IV Consultation highlights that despite initial resilience partly explained by high wage growth and accelerated government spending in Greece, growth slowed substantially in early 2009. The main driving forces were lower investment and exports, destocking, and a decline in...

This 2003 Article IV Consultation highlights that the economic expansion that began in Greece in the mid-1990s has continued unabated, with some employment gains in 2002 for the first time in four years. GDP increased by 4 percent in 2002, well above the European Union (EU) average, but external...

Greece's integration into the euro area adds urgency to addressing the economic challenges. Securing stabilization gains within the Economic and Monetary Unit (EMU) will depend on labor cost developments, which need to restore an adequate level of competitiveness. Structural reforms, more...

This paper discusses key findings of the Financial System Stability Assessment on Banking Supervision, Insurance Supervison, Securities Regulation, and Anti-Money Laundering and Combating the Financing of Terrorism for Greece. The Greek financial sector appears largely sound and resilient to...

This Selected Issues paper and Statistical Appendix reviews fiscal developments in Greece, comparing its revenue and expenditure patterns with a number of comparator country averages, and discusses prospects. The paper focuses on the evolution and tax-determinants of the most widely followed...

This paper reviews macroeconomic developments in the Greek economy in 1995 and early 1996. During that period, the economic recovery gathered strength, driven by a strong pick-up in domestic investment. Although the recovery led to a moderate increase in employment, it did not prevent an...

This paper presents the staff report for Greece’s request for an Extended Arrangement under the Extended Fund Facility. The Greek economy fell into deep twin structural deficits after euro adoption. Easy access to financing at low interest rates fuelled rapid borrowing by the private and...

This 1999 Article IV Consultation with Greece highlights that the 'regime switch' represented by the drachma devaluation, ERM entry, and the accompanying strengthening of policies was deemed essential also by the staff, both for competitiveness and confidence reasons. The monetary policy stance...