Activities > WWWforEurope Activities 2013 > 2nd Policy Brief in Athens

A Strategy Change for Greece

Karl Aiginger, director of the Austrian Institute for Economic Research (WIFO) and coordinator of the WWWforEurope project, presented WWWforEurope's second policy brief, which he co-authored together with Matthias Firgo and Peter Huber, both of WIFO, on May 22nd, 2013, in Athens, Greece. He had been invited to hold a lecture at this year's general assembly of the Foundation for Economic & Industrial Research (IOBE), focusing on the results for Greece. undefinedDownload Presentation

A quite impressive amount of reforms is underway in Greece and first successes can be seen in the current account balance and in the primary budget. Price competitiveness is by and large restored, partly by decreasing wage levels, partly by increasing productivity. But debt and unemployment are increasing further and economic output is decreasing. Blind spots of the current strategy were criticised, and a proposal for changing the strategy made.

Karl Aiginger with the Greek Minister of Finance, Yannis Stournaras

Karl Aiginger met Yannis Stournaras, Minister of Finance, and Kostis Hatziadakis, Minister of Development, for personal talks as well as leading policy makers from employers' organisations such as the Hellenic Federation of Enterprises (SEV) and employee organisations such as the Labour Institute of the Greek General Confederation of Greece (INE/GSEE-ADEDY). He also gave interviews to several newspapers.

Aiginger's overall assessment was that Greece is gradually taking “ownership” of the reform process, which will be hard and long, but Greece will manage to become a competitive economy in a thriving fast growing location.


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