Thursday March 5, 2015 Search
Weather | Athens
20o C
11o 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)  
Unemployment edges up to 26 pct in December
Where Greece hopes to find cash - and why the ECB says no
Greece has backup plan if March bailout cash fails to arrive, says Varoufakis
Greece, QE programme to top ECB meeting in Nicosia
Golden Dawn supporters sentenced over attack against ANTARSYA member
Two Golden Dawn supporters on Thursday were found guilty of bodily harm by a court in Serres, northeastern Greece, in an attack against a member of anti-capitalist ANTARSYA party carried out...
Greek girl, 17, seriously injured in Rome during school trip
A 17-year-old Greek girl was seriously injured after reportedly falling from a hotel balcony in Rome, Italy, during a school trip. The incident occurred under yet-to-be determined circumstan...
Inside News
SOCCER
Super League restarts, but behind closed doors
Deputy Minister for Sports Stavros Kontonis announced on Wednesday the resumption of the Super League this weekend after it was suspended last week following crowd trouble at the Athens derb...
SOCCER
Marinakis fines Olympiakos players
Olympiakos president Evangelos Marinakis on Monday fined the team 500,000 euros for disappointing performances and called on them to make a «sacrifice» to win trophies or leave. "Olympiakos ...
Inside Sports
COMMENTARY
Greek-Turkish relations
There are other issues beyond those focusing on the economy that the government, formerly of the “Indignants” and currently adapting – willingly or unwillingly – to eurozone realities, is fa...
EDITORIAL
Government policy
The issue of irregular immigration is taking on serious dimensions on an international level, while in Greece it is bordering on crisis levels. The government’s duty is to handle the issue w...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Unemployment edges up to 26 pct in December
2. Where Greece hopes to find cash - and why the ECB says no
3. Golden Dawn supporters sentenced over attack against ANTARSYA member
4. Greek girl, 17, seriously injured in Rome during school trip
5. No ´diabolical plan´ to topple Greek government, says Juncker
6. Greece has backup plan if March bailout cash fails to arrive, says Varoufakis
more news
Today
This Week
1. Greek-Turkish relations
2. Greece struggles to make debt math work amid bailout standoff
3. Greece seeks to plug its 'Bermuda Triangle' of lost taxes
4. Draghi details sought as ECB's QE plan poised to be fleshed out
5. Government policy
6. Greece, QE programme to top ECB meeting in Nicosia
Today
This Week
1. Greece to make international protest over Turkey reserving Aegean air space
2. A fierce battle looms
3. SYRIZA feeling the pain
4. The Greek tax drama
5. The unlikely winners of Greece's surrender on euro
6. Varoufakis to make six reform proposals at Monday's Eurogroup
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.