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Rethinking Public Financial Management and Budgeting in Greece: time to reboot?

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  • Efi Vraniali

Abstract

This paper addresses the budgeting challenges posed at a national level especially at a time of fiscal crisis and suggests some policy prescriptions to improve the functioning of the Greek public financial system. It focuses on the Public Financial Management and budgeting framework. In that regard, the paper highlights the need for a strategic and comprehensive review of the system as a whole and stresses the importance of a coordinated and phased approach for the overhaul of the various system components. A set of tools and methods for reform is presented and analyzed aiming at a convergence with international best practices over the long run.

Suggested Citation

  • Efi Vraniali, 2010. "Rethinking Public Financial Management and Budgeting in Greece: time to reboot?," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 37, Hellenic Observatory, LSE.
    • Handle: RePEc:hel:greese:37
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    File URL: http://www.lse.ac.uk/europeanInstitute/research/hellenicObservatory/pdf/GreeSE/GreeSE37.pdf
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    References listed on IDEAS

    as
    1. Christos J. Paraskevopoulos, 2007. "Social Capital and Public Policy in Greece," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 09, Hellenic Observatory, LSE.
    2. Nikolaos Zahariadis, 2007. "Subsidising Europe’s Industry: is Greece the exception?," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 03, Hellenic Observatory, LSE.
    3. Papaspyrou, Theodoros S., 2007. "Economic policy in EMU: community framework and national strategies - focus on Greece," LSE Research Online Documents on Economics 5631, London School of Economics and Political Science, LSE Library.
    4. Watson, Max, 2007. "Growing Together? Prospects for economic convergence and reunification in Cyprus," LSE Research Online Documents on Economics 5618, London School of Economics and Political Science, LSE Library.
    5. Stelios Stavridis, 2007. "Anti-Americanism in Greece: reactions to the 11-S, Afghanistan and Iraq," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 06, Hellenic Observatory, LSE.
    6. Max Watson, 2007. "Growing Together? – Prospects for Economic Convergence and Reunification in Cyprus," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 07, Hellenic Observatory, LSE.
    7. Dionyssis G. Dimitrakopoulos, 2007. "Institutions and the implementation of EU public policy in Greece: the case of public procurement," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 02, Hellenic Observatory, LSE.
    8. Vassilis Monastiriotis & Achilleas Tsamis, 2007. "Greece’s new Balkan Economic Relations: policy shifts but no structural change," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 01, Hellenic Observatory, LSE.
    Full references (including those not matched with items on IDEAS)

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