Time for Catharsis: More Reform in Greece in Return for Debt Reduction
Time for Catharsis: More Reform in Greece in Return for Debt Reduction

Author(s): Patryk Toporowski
Subject(s): National Economy, Governance, Economic policy, Economic development, Public Finances, Fiscal Politics / Budgeting
Published by: PISM Polski Instytut Spraw Międzynarodowych
Keywords: Greece; economic crisis; recovery of Greek economy; debt reduction; government reforms; public debt;
Summary/Abstract: Greece is still stuck in a deep economic crisis, and the chances of a fast recovery are slim. The blame for this lies with both the Greek government, for retarding the pace of reforms, and the “Troika,” for focusing too heavily on austerity measures. The optimal solution is to focus on strengthening the institutions of Greece and make supply-side reforms in exchange for the promise of debt relief.

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