Why a relaxation of the primary fiscal target may prove to be a self-financing policy shift
Greece Focus Notes
26 February 2015
The potential for a sizeable relaxation of the bailout program’s primary surplus targets may prove to be a significant long-term benefit for Greece. That is, provided that the Greek side will honor its commitments, so as to allow the timely conclusion of the existing bailout arrangement and, in the same time, facilitate official discussions on a “possible” follow-up agreement as well as a new relief package for Greek debt.