Showing 1 - 9 of 9
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...
Persistent link: https://www.econbiz.de/10011244360
Greece adopted an ambitious program to eliminate fiscal and current account imbalances, regain competitiveness …
Persistent link: https://www.econbiz.de/10011244721
Request for Waiver of Nonobservance of Performance Criterion and Rephasing of Access. Greece has gone from having the weakest …
Persistent link: https://www.econbiz.de/10011245252
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...
Persistent link: https://www.econbiz.de/10011245714
Explanations of the large current account deficits for the euro area periphery and the Baltics in the run up to the crisis revolve around two main factors: deteriorating export performance or demand driven booms. We add that there were important movements in transfers and net income balances....
Persistent link: https://www.econbiz.de/10011242364
Greece’s deep recession has continued unabated, with the economy struggling to gain traction against domestic political instability and weak external conditions. Stronger internal devaluation is now under way, reflecting the interaction of labor market liberalization with the already weak...
Persistent link: https://www.econbiz.de/10011242799
Fiscal expansion after euro accession led to a buildup of large economic imbalances, and a program to make fiscal policy and the fiscal and debt position sustainable was initiated. However, the program saw opposition from the outset and structural reforms stalled, which unsettled the investment...
Persistent link: https://www.econbiz.de/10011243465
This paper discusses Greece’s Fourth Review Under the Extended Arrangement under the Extended Fund Facility, and Request for Waivers of Applicability and Modification of Performance Criterion. The economy is rebalancing, but it continues to do so through recession, not...
Persistent link: https://www.econbiz.de/10011243828
Germany, Greece, Ireland, Italy, Spain and Portugal. The stability of Germany is a close proxy for the resilience of the euro …
Persistent link: https://www.econbiz.de/10011142190