- Greece’s latest round of fiscal consolidation will hamper economic growth. 90% of proposals involve raising tax rates while just 10% is from cutting wasteful spending.
- No agreement on debt relief means IMF fails to participate in bailout deal. IMF also concerned about unsustainable pensions and tax collection rates falling.
- Greek Government’s compliance with demands for structural reforms stands at just 15%. Market reforms and competition proposals are not being observed.
- Unless a package of targeted reforms that is aimed at improving competitiveness comes forward, the Greek economy will be destroyed.
