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7/7/10

FT.com / Europe - Greece wins plaudits for its reforms - by Tony Barber

Greece was commended by European Union and International Monetary Fund experts on Wednesday for making a good start in implementing the fiscal and structural economic reforms needed to emerge from its debt crisis.

“The economic adjustment programme appears to be acting as a catalyst, including in areas where reform efforts have been lacking for many years,” the European Commission, the European Central Bank and the IMF said in a joint report.

Greece’s eurozone partners and the IMF approved a €110bn rescue plan for Greece in May on condition that the Socialist government in Athens should swallow its prescribed medicine, including sweeping cuts in public expenditure and reforms to labour markets, pensions and the tax system.

For the complete report: FT.com / Europe - Greece wins plaudits for its reforms

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