Quarterly Report January - March 2017

The current report monitors the evolution of the Greek fiscal aggregates in relation to the targets set in the State Budget and in the Mid-term Fiscal Strategy Frameworks. It focuses on the First quarter of 2017. The report was drawn according to the present policy framework, as it is formed by the Memorandum that the Greek Government has signed with the European Central Bank (ECB), the European Commission (EU) and the International Monetary Fund (IMF). Moreover, the report takes into account the current debate on the revision of economic governance, of the EU and the Euro zone in particular. The Coordinator and the Members of the Scientific Committee of the Office recognize that there are many different approaches within economic policy and that something that is nec-essary on economic terms is not necessarily politically feasible. Furthermore, something that is politically desirable is not always efficient in economic terms. Our effort is to present the problems and propose solutions to crucial issues, not only in the main body, but also usually in a special chapter at the end of each report.

The Coordinator of the Office

Professor Panagiotis Liargovas