IMF Staff Country Reports

Greece: Selected Issues

Publication Date:

January 25, 2007

Electronic Access:

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Summary:

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.

Series:

Country Report No. 2007/027

Subject:

Balance of payments Banking Competition Credit Current account deficits Exports Financial markets Fiscal consolidation Fiscal policy International trade Money

Frequency:

Biannually