The short-term objectives are being met, but medium-term targets and sustainability have to be worked on. The impressive fiscal adjustment evident since the crisis erupted is continuing. The Executive Directors commend the Greek government’s determination to focus on overdue spending...

Rigidities in Greece’s product and labor markets leading to economic imbalances and the significance of reforms to these markets are played out in the first paper. The second paper describes the problems, progress to date, and agenda for work in Greece’s revenue administration and...

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...