ASSESSMENTS

Greece's Austerity Progress and Economic Prospects

Oct 11, 2011 | 12:25 GMT

LOUISA GOULIAMAKI/AFP/Getty Images

Summary

Defying popular perception, Greece has made a great deal of progress in reducing its budget deficit since agreeing to reforms in exchange for a bailout. However, the strategies Athens has used to make this progress are largely unsustainable and will be insufficient to meet further budget reduction targets.

Greece has made considerable progress in reducing its budget deficit, but the means it has used are largely unsustainable. ...

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