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Greece: 2013 Article IV Consultation

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  • International Monetary Fund

Abstract

Fiscal expansion after euro accession led to a buildup of large economic imbalances, and a program to make fiscal policy and the fiscal and debt position sustainable was initiated. However, the program saw opposition from the outset and structural reforms stalled, which unsettled the investment climate. The Greek government’s determination to push ahead with reforms has seen progress in fiscal adjustment and perseverance of the financial sector. However, the social cost of the recession has been very high, and the current program can only succeed if policymakers address the root causes.

Suggested Citation

  • International Monetary Fund, 2013. "Greece: 2013 Article IV Consultation," IMF Staff Country Reports 2013/154, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2013/154
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    Citations

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    Cited by:

    1. Barbara Annicchiarico & Fabio Dio & Francesco Felici, 2015. "Fiscal Devaluation Scenarios: A Quantitative Assessment for the Italian Economy," Open Economies Review, Springer, vol. 26(4), pages 731-785, September.
    2. Leventi, Chrysa & Matsaganis, Manos & Flevotomou, Maria, 2013. "Distributional implications of tax evasion and the crisis in Greece," EUROMOD Working Papers EM17/13, EUROMOD at the Institute for Social and Economic Research.
    3. Mullineux, Andy, 2014. "Banking for the public good," International Review of Financial Analysis, Elsevier, vol. 36(C), pages 87-94.

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