European Parliament Library

Greece :, Selected Issues

This Selected Issues paper examines three areas of key policy importance for Greece in the coming years. The paper documents the loss of international competitiveness in recent years, as well as the accompanying widening of the current account deficit. It analyzes fiscal consolidation episodes in advanced economies, and confirms the conclusion found in the literature that, for durable consolidation, control of current spending is superior to revenue increases. The paper also estimates European banks’ vulnerability to rapid credit growth and economic slowdowns
Table Of Contents
Cover; Contents; I. Greece's Competitiveness Deficit: How big is it and how could it be unwound?; A. Introduction; B. Indicators of External Performance; Figures; 1. External Current Account and its Determinants; 2. Demand Stimuli, 1991-2006; C. How big is the competitiveness deficit?; D. Constant Market Shares Analysis of Competitiveness; E. Should external imbalances be of concern in an EMU member country?; Box; 1. A Simple Model of Internal and External Adjustment; F. How Could the lost competitiveness be clawed back?; Annex; I. Derivation do the CMS Decomposition; References
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (79 p.)
Specific Material Designation
Form Of Item

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