Greece’s reform job isn’t even half done

By Hugo Dixon NOVEMBER 11, 2013

Reuters

Greece’s reform job is not even half finished. The government hasn’t done enough to root out the vested interests that strangle the economy. Nor has it cracked down fully on tax evasion or pushed hard enough to privatise state-owned properties.

On the other hand, Antonis Samaras’ coalition is so fragile that it could collapse if the troika – the European Commission, the European Central Bank and the International Monetary Fund – forces it to impose more austerity. That could lead to a new phase in the Greek crisis. The government’s best bet is to make a sharp distinction between structural reform and austerity – and persuade its lenders that it’s so serious about the former that more cuts and taxes aren’t required.

UPDATE 1-IMF approves $2.3 billion aid for Greece

Mon Jul 29, 2013 4:40pm EDT

(Reuters) - The International Monetary Fund on Monday approved a further 1.7 billion euros ($2.3 billion) in funds for Greece's bailout program after completing the fourth review of the cash-strapped euro zone state.

Greece last week adopted the last piece of legislation its international lenders required to release the next batch of rescue loans, after two months of wrangling over unpopular measures to overhaul the economy. The total funds from the IMF, the European Commission and the European Central Bank comprise 5.8 billion euros.

U.S. Treasury Secretary Lew urges Greece to stick with reforms

ATHENS | Sun Jul 21, 2013 11:15am EDT

(Reuters) - U.S. Treasury Secretary Jack Lew urged Greece on Sunday to persevere with tough economic reforms during a one-day trip to Athens designed to demonstrate Washington's support for the crisis-plagued country.

U.S.'s Lew to visit Greece, discuss its reforms

(Reuters) - U.S. Treasury Secretary Jack Lew will visit Greece on Sunday to discuss the euro zone country's economic reforms and Europe's policies to support recovery, the Treasury said on Wednesday.

Lew will visit Athens after attending the Group of 20 gathering of finance ministers and central bankers in Moscow this weekend. Greece's debt crisis has roiled the euro zone and raised doubts about the currency bloc's future.

UPDATE 1-Greece slow on asset sales but may tap bond market soon-EU/IMF

Fri, May 17 2013

* Pace of privatisations unsatisfactory - EU/IMF report

* Athens might try to tap bond markets in 2014 - EU official

* Country needs 4 bln euros extra savings to meet 2016 goals

BRUSSELS/ATHENS, May 17 (Reuters) - Greece's foreign lenders expressed concern at its slow pace of asset sales on Friday but praised the country for tackling its budget gap and said it may be able to tap bond markets in 2014.

Is There Hope for a Recovery of the Greek Economy?

Posted: 02/08/2013 4:10 pm

Evangelos A. CalamitsisEconomist and former director at the IMF

The Huffington Post

After five years of a deepening economic recession and growing unemployment in Greece, one may wonder whether there is now hope ("elpida") for an end to the Greek fiscal and debt crisis, the restoration of the country's competitiveness, and a sustainable recovery of growth and jobs.

UPDATE 1-EU court rules against Greece's OPAP gambling monopoly

Thu Jan 24, 2013 5:48am EST

Jan 24 (Reuters) - Europe's highest court ruled that OPAP's gambling monopoly in Greece was illegal and that the Greek authorities would have to reform the sector to protect consumers or open it up to competition.

The parable of the four-engined planes

Jul 18th 2012, 11:53 by I.C.

The Economist

AN OLD friend in the aviation business, with years of experience with Greek clients, told me a story that serves as a parable for how the country got into its current state.

Are state-led economies better?

By Ian Bremmer JULY 3, 2012

This piece originally appeared in Reuters Magazine.

As Europe’s leaders struggle to restore confidence in the single currency and America’s economy limps ahead at a painfully slow pace, China’s economy continues to power forward at its now characteristically strong clip.

Building euro-zone competitiveness, Ports in the storm

Portugal needs to privatise its ports to reap the full benefits of its location. The latest in our series on reforming Europe’s economies

The Economist

Mar 24th 2012

LISBON’S harbour mixes pleasure with business. Bars and restaurants sit alongside industrial machinery

Greece and the new rescue package

23/02/2012 | Manthos Delis

Published at http://lecercle.lesechos.fr/

… If one listens to the arguments made in the majority of the media both in Greece and abroad, the overwhelming impression is that the new rescue package is solely about wage cuts and tax increases.   In contrast, four out of five policies in the new deal concern structural reforms for the Greek economy  …