By Panagiotis E. Petrakis
On June three, 2015, the Greek Parliamentary finances workplace, the nationwide and Kapodistrian collage of Athens, the Democritus collage of Thrace, and the college of Peloponnese backed a world convention to handle medium- and long term progress in Greece. This assortment offers the most powerful papers at the stipulations required to restore and preserve fiscal progress. best specialists hide virtually each significant factor pointed out within the most up-to-date literature, from demographic concerns and recommendations for export technique to the necessity for innovation and structural reform. the combo of qualitative and quantitative methods to assessing current stipulations make this ground-breaking assortment a helpful source for numerous teachers, specialist economists, and fiscal coverage practitioners planting the seeds of Greece's future.
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C) Compared with Greece, the Portuguese reform agenda was more focused on selected weaknesses in the economy, achieved a better overall implementation rate despite initial delays, and included short- and mediumterm competitiveness-enhancing reforms from its inception. (d) In terms of the pace of reform, Greece kicked off at the same speed as other euro area countries but lost precious time in the transition between the first and the second programs. At this point, a sharp reform gap (in absolute terms) developed between Greece and Portugal.
The two parallel currencies could then coexist for a very much longer time period. This is not a novel thought. It was one of the possibilities that was raised in the discussions on monetary union in the early 1990s that there might be a common currency but not necessarily a single currency. 3 MINIMIZING FINANCIAL VULNERABILITY: BANKING UNION The debate on banking union also needs to be recast. What is now termed a banking union—that is common European regulation with some fiscal capacity for resolution in the case of failed banks—is a very belated but necessary completion of the monetary union.
A politically legitimate mechanism for solving the problem of international adjustment was the unsolved problem of the twentieth century. In Europe and elsewhere it generated enormous conflict. There is an urgent need for ways of constructing currency stability that go beyond the narrow framework suggested by the OCA literature. Fixing this issue is not only a European but also a global agenda for the twenty-first century. REFERENCES Andor, László. 2014. ” Vienna Speech, September 29, 2014. htm THE EU AND THE EUROZONE 31 Bordo, Michael, and Harold James.