Greek state of play

The situation relating to the debt crisis in Greece seems to have stabilized. The economists from Rabobank’s Economic Research Department (ERD) give their views of the most recent events in that country.

The level of Greek debt is responsible for the country being in crisis. International institutions such as the European Commission, the International Monetary Fund (IMF) and the European Central Bank (ECB) have set requirements for reforms and austerity measures in Greece in exchange for financial support. The international institutions and leaders of the EU countries are holding intensive consultations in the hope of finding a way out of the crisis for Greece and for Europe.