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Country Forecast Greece Updater

  • ID: 2101430
  • August 2016
  • Region: Greece
  • 18 Pages
  • The Economist Intelligence Unit
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In September 2015 Syriza Unifying Social Front (Syriza)-the party of the prime minister, Alexis Tsipras-won the snap election (the second of 2015) and formed a coalition government with the far-right, nationalist Independent Greeks (AE). The Syriza-AE government's majority has already fallen from five to three, and it could evaporate as the coalition adopts and implements unpopular bail-out policies. The Economist Intelligence Unit does not think that the government will last a full term.

The government's political honeymoon did not last long. Protests about pension and social security reforms erupted in early 2016, and the government also faces difficulties in dealing with the 60,000 migrants stranded in the country. We believe that the government will encounter growing popular opposition to new austerity and reform measures under the three-year European Stability Mechanism (ESM) bail-out programme.

We do not think that the policies contained in the third economic adjustment programme (EAP) will generate sufficient economic growth to mitigate Greece's debt burden or reduce popular disaffection with austerity. Political stability and Greece's membership of the euro zone will therefore remain in question over the forecast period.

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Country Forecast Greece Updater

Country forecast overview: Highlights

Country forecast overview: Key indicators

Country forecast overview: Business environment rankings

Country forecast overview: Greece's business environment at a glance
Policy towards private enterprise and competition
Policy towards foreign investment
Foreign trade and exchange controls
Taxes
Financing
The labour market
Infrastructure

Fact sheet

Outlook for 2016-20: Political stability

Outlook for 2016-20: Election watch

Outlook for 2016-20: International relations

Outlook for 2016-20: Policy trends

Outlook for 2016-20: Fiscal policy

Outlook for 2016-20: Monetary policy

Outlook for 2016-20: Economic growth

Outlook for 2016-20: Inflation

Outlook for 2016-20: Exchange rates

Outlook for 2016-20: External sector

Data summary: Global outlook

Data summary: Gross domestic product, current market prices

Data summary: Gross domestic product, at constant prices

Data summary: Gross domestic product by sector of origin

Data summary: Growth and productivity

Data summary: Economic structure, income and market size

Data summary: Fiscal indicators

Data summary: Monetary indicators

Data summary: Employment, wages and prices

Data summary: Current account and terms of trade

Data summary: Foreign direct investment

Data sources and definitions
Global data
Domestic data
Abbreviations

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