Quarterly Report July - September 2014

Quarterly Report July - September 2014

The current report examines the observance of the Greek economy’s fiscal targets which are set in the Mid-Term Programs of Fiscal Strategy. It focuses on the third quarter of 2014. The report was drawn according to the present policy framework, as it is formed by the Memorandums 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 anything that is necessary on economic terms is not necessarily politically feasible. Furthermore, anything that is politically desirable is not always efficient in economic terms.

Our effort is to present the problems and give the potential answers to crucial questions, not only in the main body, but also in a special chapter at the end of each report. In the current report the discussion focuses on the recently launched Guaranteed Minimum Income (GMI). It is an interim report prepared by a technical working group of the Office in which we incorporate remarks, comments and points of view of the Ministry of Labor. We hope that in this way, we can contribute better to the workings of the two relevant Parliamentary Committees and inform the Hellenic Parliament and the Greek citizens.

The Coordinator of the Office

Professor Panagiotis Liargovas