http://www.bloomberg.com/news/2011-06-28/greek-vote-obscures-the-european-union-s-unsavory-choices-view.html
Even if Greece gets its bailout and its economy rebounds, the government would have to run a budget surplus, excluding debt-service costs, of 5 percent of GDP for about three decades to bring down debt to the 60 percent maximum allowed by euro-area rules. Achieving such a fiscal feat for even five years is extremely rare for any government, let alone Greece’s.
Even if Greece gets its bailout and its economy rebounds, the government would have to run a budget surplus, excluding debt-service costs, of 5 percent of GDP for about three decades to bring down debt to the 60 percent maximum allowed by euro-area rules. Achieving such a fiscal feat for even five years is extremely rare for any government, let alone Greece’s.
No comments:
Post a Comment