Summary of Greece

Looking for the report?
We have the summary! Get the key insights in just 5 minutes.

Greece summary
Start getting smarter:
or see our plans

Rating

7

Qualities

  • For Beginners
  • Overview

Recommendation

How will Greece escape its current mess? Almost every visit by the Troika (a combination of the International Monetary Fund, the European Commission and the European Central Bank) seems to result in a nail-biting showdown, with the future of the euro hanging in the balance. Yet the IMF offers a possible positive future scenario for the Hellenic Republic. Packed with facts and figures, this authoritative report offers a well-researched, if not entirely reassuring, assessment of the current state of the Greek economy and its progress. getAbstract recommends its findings to euro watchers everywhere.

About the Author

The International Monetary Fund is a global organization that provides advice and financing to member states in economic difficulties and works to reduce poverty in developing nations.

 

Summary

Greece has managed an exceptional 15%-of-GDP improvement (cyclically adjusted) in its primary balance since embarking on the 2010 reform program coordinated by the Troika (the International Monetary Fund, the European Commission and the European Central Bank). While this represents good progress, it owes more to a 22% contraction in the economy from 2008 to 2012 than to growth-enhancing improvements. Political uncertainty, large public payrolls and slow-moving privatizations have deepened the recession and hampered the foreign investment that could aid future development...


More on this topic

By the same author

World Economic Outlook Update, July 2017
8
World Economic Outlook October 2014
8

Customers who read this summary also read

And the Weak Suffer What They Must?
8
Tales from a Crisis
8
Cause for Concern?
9
Convergence in the European Union
7
Climbing Out of Debt
8
The Euro as an International Currency
7

Related Channels

Comment on this summary