The IMF/EC/ECB mission has released its updated view on the implementation of the Greek adjustment package: you can read it here .
Update on Greece
- Post author By Philip Lane
- Post date August 5, 2010
- Categories In EMU
- Tags Greek adjustment
- 2 Comments on Update on Greece
2 replies on “Update on Greece”
Greece seems to be on track for an 8% deficit this year.
While recognising that Greece has lost its sovereignty to the EU/IMF, will the recovery process be more severe and longer in Ireland than in Greece because Ireland is grasping vestiges of sovereignty, e.g., ability to issue sovereign paper without an explicit external guarantee, deciding on the composition of fiscal contraction and adopting a leisurely approach (without any guarantee of sensible outcomes) to deleveraging the state balance sheet and reforming the sheltered sectors?