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Measures Taken Out of Monetary Policy in Greece
Measures Taken Out of Monetary Policy in Greece
goal of strengthening the financial sector is expected to help support credit expansion
and the provision of liquidity to the economy.
The state budget deficit, in spite of the adoption of continuous fiscal measures, came to 10.6% of
GDP, i.e. to a level slightly below (by 76 million) the latest revised target.
euro area Member States (through the European Financial Stability Facility) and the IMF will
provide an additional official support of up to 130 billion until 2014.
common understanding with private sector creditors on the general terms of their participation in
the restructuring of Greek debt.
private and the official sectors will help bring Greece's public debt ratio down to below 117% of
GDP in 2020 (compared with an initial target of 120.5%.
Increasing the absorption and efficient utilisation of funds available from the EU, especially for
programmes directly aimed at boosting entrepreneurship and creating jobs for the unemployed.
The significant reduction in unit labour in 2012-13, which, leads to a major improvement in cost
competitiveness, thereby contributing to an increase in exports and to import substitution.
The realisation of the Helios Project for exporting solar energy to Germany and other Western
European countries, which could lead to substantial investment and job creation.
Speeding up privatisation and the programme for the utilisation of public property;.
Any additional capital requirements for banks will be determined following the completion of the
diagnostic exercise being conducted by the Bank of Greece, in cooperation with the European
Commission, ECB and IMF.