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No End to the Greek Tragedy

  • 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. 

Michael Iakovidis, Daniel Mahoney and Tim Knox - Thursday 2nd June 2016

Daniel joined the Centre for Policy Studies as Head of Economic Research in November 2015. He was promoted to Deputy Director in March 2017. Prior to joining the CPS, he worked in research roles for a number of parliamentarians.

Tim Knox was Director of the CPS from 2011-2017. Before he was Director, Tim was the Editor at the CPS - a position in which he was responsible for publishing papers by every Conservative leader since Mrs Thatcher as well as by hundreds of leading academics and opinion formers.