Why a new package of horizontal austerity measures might well prove counterproductive
Greece Focus Notes
17 October 2013
In our previous Greece Macro Monitor, we explained, among others, why a new package of horizontal austerity measures (i.e., over and above these already incorporated in the present adjustment programme) would be neither necessary nor appropriate for Greece, especially taking into account the current state of the domestic economy and the present sociopolitical environment. In this report, we provide additional rational to the latter view.