Friday August 1, 2014 Search
Weather | Athens
32o C
25o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greece gets full marks for structural reforms

Greece has the highest mark among eurozone countries in terms of fiscal adjustment, 8.7 out of 10, as it has suffered the greatest pressure and therefore faces the worst recession, the report presented on Thursday by the Lisbon Council and the Berenberg Bank noted.

By Dimitra Manifava

Greece remains the best-performing country in the eurozone as far as adjustment to structural reforms is concerned, according to the updated “Euro Plus Monitor” report issued on Thursday by the Lisbon Council and Berenberg Bank.

The countries of the so-called European periphery in general remain right at the top of the chart drafted in the context of the report, which praises their “impressive progress.”

The Lisbon Council for Economic Competitiveness and Social Renewal – which is a think tank and a policy network – and Germany’s Berenberg Bank estimate that the end of the crisis is near and any further fiscal measures in Greece, Ireland, Portugal and Spain should be limited, while in Italy they do not consider any measures to be necessary. They go as far as to recommend that eurozone economic policy-makers stop asking countries that due to an unforeseeably deep recession have not met their fiscal targets to take measures beyond those agreed.

On a 0-10 scale, with 0 being the worst performance and 10 the best, Greece has the highest overall grade of 8.2, just as in the previous report issued in November. In terms of specific criteria, this country also has the highest mark in terms of fiscal adjustment, 8.7, as it suffered the greatest pressure and therefore faces the worst recession, the report notes.

Regarding external adjustment (the shift in the balance of exports and imports, along with the rise in the share of exports in a country’s GDP), Greece gets 6.6, which is the fifth highest in the eurozone, with the report underscoring that during the October-December 2012 period, Greece increased its exports to third countries by 30.4 percent compared with the same quarter in 2011.

Greece scores 7.4 for labor costs, while its record in the rapid promotion of structural reforms (based on data supplied by the Organization for Economic Cooperation and Development) gets full marks.

The report adds that the eurozone in general will require greater labor market flexibility to bolster its competitiveness, and that the bloc will need to take initiatives to safeguard the future of the euro as a strong currency. Concern is also expressed about France, whose performance remains below the eurozone average and is worse than that recorded in the previous report in November 2012.

ekathimerini.com , Thursday March 7, 2013 (21:56)  
Traders unhappy with turnover
No rivals for Intralot as it bags racing bet permit
Energy cost cuts even without EU approval
KEPE: Greek economy returned to growth in Q2
Greece to help ´hundreds´ of Chinese leave Libya
With the violence in Libya escalating to its worst level since the 2011 ouster of dictator Moammar Gadhafi, governments from around the world are scrambling to evacuate their citizens from t...
Plan to restore Asopos River enters final stage
Plans are in the final stage for the ecological restoration of Asopos River in Central Greece following a deal to install an integrated water resources management system. The 37.6-million-eu...
Inside News
SOCCER
One win and one loss in Europa League
Greece had a hit and a miss in the first-leg games for the third qualifying round of the Europa League on Thursday, as Atromitos scored a 2-1 win at Sarajevo while Asteras Tripolis lost 1-0 ...
SOCCER
Goalless draw at Liege puts Greens in driving seat
Panathinaikos got the upper hand in the battle for entry to the Champions League playoffs after snatching a goalless draw at Standard Liege on Wednesday. If anything, the Greek cup holders m...
Inside Sports
COMMENTARY
In trying to conquer, Putin unites Europe
President Vladimir Putin is obliged to feign indifference to the sanctions that the European Union and the United States imposed on Russia this week. But, being the player that he is, he mus...
COMMENTARY
Summer turbulence
High summer temperatures appear to have messed with the reflexes of officials at the top echelons of Greece’s power-sharing administration. A sense of anxiety has gripped the political syste...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. One win and one loss in Europa League
2. Greece to help ´hundreds´ of Chinese leave Libya
3. Traders unhappy with turnover
4. No rivals for Intralot as it bags racing bet permit
5. Energy cost cuts even without EU approval
6. KEPE: Greek economy returned to growth in Q2
more news
Today
This Week
1. Motorists refusing to pay tolls on Corinth-Kalamata highway to be monitored
2. Euro flows reveal shift in sentiment as losses mount
3. Greece may ignore EU and lower energy costs for business, says minister
4. EU puzzles over emergency funds for euro area bank crisis agency
5. Only 5 percent of stores see brisker business during this year's summer sales
6. Fake psychic caught in Thessaloniki after gaining 35,000 from victim
Today
This Week
1. Quadriplegic woman on life support 'dies due to unpaid power bills'
2. Wine cup used by Pericles found in grave north of Athens
3. Defense Minister Avramopoulos to represent Greece at European Commission
4. World’s largest solar boat on Greek mission
5. Greece names fifth privatization agency chief in four years
6. Greek coast guard picks up 77 migrants off Myconos
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.