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The Second Economic Adjustment Programme for Greece
Fourth Review – April 2014
Summary for non-specialists
Overall good news, with some ongoing issues and qualifications:
"Implementation risks to the programme remain high...risks remain considerable, in particular in relation to perseverance in confronting vested interests.
Conditional on continued implementation by the Greek authorities, notably of the prior actions, the programme is broadly on track".
"With solid fiscal performance and the stabilisation of the banking system, it is now crucial to ensure that a wide range of ambitious structural reforms is implemented to quickly restore and promote growth and support employment. The government committed to implement a package of important structural reforms which, if fully implemented, will significantly improve the growth potential and flexibility of the Greek economy".
IMPLEMENTATION...and...
"Efforts to fight corruption are being stepped up but the challenge is substantial. According to recent reports by Transparency International and the European Commission, the perception of corruption in Greece is the highest among the EU Member States. The adjustment programme is tackling this reality, and there has already been some progress, with the adoption of an anticorruption strategy and the appointment of a national coordinator. The Government has adopted the crucial framework law for anticorruption and is expected to adopt a code of conduct for members of Government in April, and by June revised legislation on funding of political parties and legislation on declaration and monitoring of assets which will put Greece at the forefront on this aspect".
On Greece's debt (Kathimerini)
Yanis Varoufakis, Primary Surplus...or Deficit?
More from Yanis Varoufakis
Credible statistics (Kathimerini)
Greece behind schedule with debt reduction efforts (Deutsche Welle)
Request for Debt Relief (Kathimerini)
Nick Malkoutzis, Macropolis
John Psaropoulos, Al Jazeera
On Chancellor Merkel's Visit to Athens (DW)
"Experten warnen, dass die Krise immer noch nicht überwunden ist"
"Efforts to fight corruption are being stepped up but the challenge is substantial. According to recent reports by Transparency International and the European Commission, the perception of corruption in Greece is the highest among the EU Member States. The adjustment programme is tackling this reality, and there has already been some progress, with the adoption of an anticorruption strategy and the appointment of a national coordinator. The Government has adopted the crucial framework law for anticorruption and is expected to adopt a code of conduct for members of Government in April, and by June revised legislation on funding of political parties and legislation on declaration and monitoring of assets which will put Greece at the forefront on this aspect".
On Greece's debt (Kathimerini)
Yanis Varoufakis, Primary Surplus...or Deficit?
More from Yanis Varoufakis
Credible statistics (Kathimerini)
Greece behind schedule with debt reduction efforts (Deutsche Welle)
Request for Debt Relief (Kathimerini)
Nick Malkoutzis, Macropolis
John Psaropoulos, Al Jazeera
On Chancellor Merkel's Visit to Athens (DW)
"Experten warnen, dass die Krise immer noch nicht überwunden ist"
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