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"Over the last two years, Greece has successfully addressed challenges by

Certain miscalculations in the design of the economic adjustment programmes could also explain Greece’s lagging behind vis – a – vis the other countries, previously under programmes. Given the size of the fiscal imbalances back in May 2010, when the first economic adjustment programme was initiated, more emphasis was placed on fiscal consolidation, pension reform, streamlining budgetary procedures, increasing fiscal transparency, as well as financial sector restructuring. Less emphasis was given on gr

Furthermore, (L.4399/2016) provides a clear framework and a stable business environment for the commencement of a variety of individual investment projects. The new law envisages several aid schemes, for example: tax exemption, subsidies for the acquisition of new machinery and other equipment, subsidy of the cost of created employment, a stable corporate income tax rate for a period of 12 years from the completion of the investment project. In order to qualify for the aid schemes, the investment projects

Suddenly, Greece was shut out from borrowing in the financial markets. By the spring of 2010, was veering toward bankruptcy, which threatened to set off a new financial crisis. Debt in the European Union

However, the Greek economy will need help in order to reduce its high public debt. Thus, the partners’ commitment to medium-term debt relief measures to ensure medium- to long-term public debt sustainability in the period after the end of the current programme needs to be specified. This would improve the economic climate and facilitate Greece’s return to the markets in 2018, if not sooner. Letting this pending matter drag on poses potentially serious risks and might even foreshadow the need for a new f

The policy package introduced by Law 4472/2017 and the additional measures adopted on 12 June meet the prior actions agreed with the partners, thereby paving the for a successful completion of the second review of the ESM programme. The Eurogroup statement of 15 June:

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