Thursday October 23, 2014 Search
Weather | Athens
22o C
16o 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)  
Stocks give up 0.37 percent in quiet session
Solidarity tax to be extended for two years
Spanish unemployment lowest since 2011 as economy grows
EU requests clarification on Italy´s ´breach´ of budget goals
Four Greek firms accused of EU subsidy fraud
An Athens Court of First Instance prosecutor has brought criminal charges of fraud against four Greek companies believed to have pocketed millions of euros in European Commission subsidies w...
New state body to be set up for truck safety in wake of accidents
In the wake of a spate of serious road accidents caused by trucks, Transport Minister Michalis Chrysochoidis on Thursday heralded the creation of a new state body to oversee truck safety. Ch...
Inside News
SOCCER
Roberto´s heroics make Kasami´s goal count
Pajtim Kasami’s goal and Roberto’s heroics in goal saw Olympiakos claim one of the biggest wins in its history on Wednesday downing Italian champion Juventus 1-0 to boost its chances of reac...
SOCCER
Third-division Iroditos punished heavily after fan death
Greek third division team Irodotos has been docked 15 points and ordered to play 10 matches behind closed doors following the death of an Ethnikos Piraeus supporter, the Hellenic Football Fe...
Inside Sports
COMMENTARY
Defusing a crisis
The crisis in Cyprus is escalating rapidly and defusing it is an extremely delicate and complicated procedure that will inevitably lead to losses for the weakest of the two sides. The course...
EDITORIAL
PM needs to step up
The public perception of the government is anything but good right now. The coalition is projecting an image of discord and constant disputes show that key ministers are unable to stay on th...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Stocks give up 0.37 percent in quiet session
2. Four Greek firms accused of EU subsidy fraud
3. New state body to be set up for truck safety in wake of accidents
4. Independent Greeks leader claims MPs were blackmailed
5. Charges brought against OKANA chiefs over finances
6. Pharmacists’ chief warns of drugs shortage in Greece
more news
Today
This Week
1. Strong winds hamper sea travel
2. TBEX brings together 800 travel bloggers in Athens
3. Cyprus president to sit out EU summit due to high blood pressure
4. Samaras to represent Anastasiades at European Council meeting
5. Arrivals show increase in January-June 2014 period
6. Spanish unemployment lowest since 2011 as economy grows
Today
This Week
1. Coalition shooting itself in the foot
2. Istanbul skyscraper casts shadow over Greece's banking ambitions
3. The past, present and future of the Greek debt crisis
4. Greece’s closed society is central to its current malaise
5. Greece must stick to reforms, says Schaeuble
6. At least 11 banks to fail European stress tests, three in Greece, report says
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.