Publication

This commentary assesses Greece’s economic performance in the aftermath of the euro crisis. The author says that while it is positive news that Greece achieved a primary budget surplus in 2013, what is really important is the fact that the country exported less in 2013 than in 2012. He explores the possible reasons behind this lack of growth and suggests that a prime reason for it is the country's lack of ability to adjust. He also contends that sustained recovery from the crisis will not be achieved by Greece unless its exports start growing.