European Parliament Library

Greece :, Fourth Review Under the Extended Arrangement Under the Extended Fund Facility, and Request for Waivers of Applicability and Modification of Performance Criterion—Staff Report; Staff Statement; Press Release; and Statement by the Executive Director for Greece

Abstract
This paper discusses Greece’s Fourth Review Under the Extended Arrangement under the Extended Fund Facility, and Request for Waivers of Applicability and Modification of Performance Criterion. The economy is rebalancing, but it continues to do so through recession, not productivity-enhancing structural reform. Domestic demand continues to fall albeit at a moderating pace, and import compression has resulted in a further shrinking of the current account deficit. The large output gap and high unemployment rate are exerting downward pressure on wages, and the competitiveness gap in unit labor cost terms has narrowed further. Product prices are also easing. Sentiment indicators have improved, but the political crisis has had a dampening effect
Table Of Contents
Cover; CONTENTS; CONTEXT; RECENT DEVELOPMENTS; DISCUSSIONS; A. Outlook; B. Economic Policies; PROGRAM MODALITIES; STAFF APPRAISAL; BOXES; 1. Banking Sector Restructuring; 2. Health Spending Overruns; 3. Toward a New Property Tax in Greece; 4. Exceptional Access Criteria; FIGURES; 1. Demand Indicators, 2007-13; 2. Supply Indicators, 2007-13; 3. Labor Market Developments, 2007-13; 4. Inflation Developments, 2005-13; 5. Balance of Payments, 2010-13; 6. Competitiveness Indicators, 2005-13; 7. Financial Indicators, 2007-13; 8. Money and Banking Developments, 2007-13
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (208 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781484369807

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