Greece: Selected Issues

International Monetary Fund

No 2007/027, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; government; credit growth; expenditure; expenditure item; revenue side; OECD average; expenditure component; Greek bank; Credit; Fiscal consolidation; Current account deficits; Exports; Competition; Europe; Global; Middle East; Africa; Asia and Pacific (search for similar items in EconPapers)
Pages: 78
Date: 2007-01-25
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Citations: View citations in EconPapers (3)

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