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Part I – December 9th EU Summit: implications for Greece and the euro area
Part II – Latest domestic fiscal and macro developments• Real GDP contracts by 5.0%in Q3-2011• January-November central government deficit undershoots revised 11 –month target• What’s behind the poor performance of State budget revenue in recent months? • Recent trends in central government spending and public investment expenditure • Overshooting risks to the full-year general government deficit target for 2011 • Fiscal multipliers and the efficiency of the applied austerity program
• The recession has affected the real estate market and the construction sector harder than the rest of the economy.