Thursday April 24, 2014 Search
Weather | Athens
21o C
15o 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)  
Benchmark up thanks to late blue chip rally
PPC to sell 500 mln euros of 3- and 5-year bonds
Greece´s NBG launches 5-year bond to raise up to 750 mln euros
Samaras meeting with Dimon key to Greek return to bond markets
Work at new Athens cultural center gathering pace
It was revealed on Thursday that the outer shell of buildings at the Stavros Niarchos Foundation Cultural Center should be completed by July 28. The planting of trees and shrubs on the 17-he...
Greece makes request for debt relief as loan tranche approved
Greece made its first official request on Thursday for further debt relief as the Euro Working Group (EWG) met in Brussels to rubber-stamp the 2013 primary surplus and approve the release of...
Inside News
SOCCER
4,000 officers to police Greek Cup final
Police says it will ban mass gatherings in central Athens amid heavy security measures planned for Saturday's Greek Cup final between Panathinaikos and PAOK at the Olympic Stadium. More than...
BASKETBALL
Never underestimate the Greek hoopsters
Olympiakos and Panathinaikos, who between them have won the last three European crowns, won again at home on Wednesday to take their Euroleague play-off series with Real Madrid and CSKA Mosc...
Inside Sports
COMMENTARY
At the mercy of fools
The death of a young man at an Easter lunch in a village near Rethymno on Crete and the very serious injury of an American guest at a Resurrection ceremony on Santorini must not be forgotten...
COMMENTARY
Putting the party above the country
The case of Sabiha Suleiman, the Roma activist whose candidacy for the European Parliament was announced by SYRIZA only to be withdrawn shortly afterward, is an illustration of the leftist o...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Work at new Athens cultural center gathering pace
2. Greece makes request for debt relief as loan tranche approved
3. New court to deal with major crime, graft cases
4. More than 20,000 protests since 2010 bailout
5. Red tape cut for EU law graduates
6. Balkan train links to resume on May 10, with discounts
more news
Today
This Week
1. Putting the party above the country
2. Three missing from cargo ship that went down off Crete
3. Strong card in debt talks
4. Central Athens cleanup a sign of Greece's turnaround
5. Samaras meeting with Dimon key to Greek return to bond markets
6. Police on high alert for Greek Cup final in Athens on Saturday
Today
This Week
1. Greece startup leaders say they can’t break jobless cycle alone
2. Ground-breaking Good Friday mass signals thaw in Cyprus
3. Mayoral candidates clash over Athens mosque plans
4. Government looks to kick on
5. Putting the party above the country
6. Greece offers to help find Turkish F-16 lost in 1996
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.