Despite its financial crisis, Greece is among the eurozone countries that have fared relatively well since the introduction of the single currency 20 years ago, according to a report published on Friday by Bloomberg, Kathimerini reports.
The financial news agency ranked the euro area’s member-states according to the level of utilization of the opportunities the common currency offers, grading them from A to C. Greece got a B for its satisfactory performance within the euro area.
Bloomberg argued that although the country has suffered terribly during its debt crisis, it has managed to build new trade relations with the wealthy core of Europe. It added that the concession of monetary policy to a reliable central bank brought greater price stability in the first years, and that Greece has recently achieved an improvement in its competitiveness.
Greece’s score in the 10 tests were as follows:
- FAVORABLE FINANCIAL CONDITIONS – A
- ABILITY TO BORROW – C
- GREATER INTEGRATION – A
- PRE-CRISIS COMPETITIVENESS – C
- PRODUCTIVITY GROWTH – C
- POST-CRISIS COMPETITIVENESS – A
- INFLATION ANCHORING – A
- POST-CRISIS LABOUR COSTS – A
- FISCAL POLICY OPTION – C
- PRE-CRISIS LABOUR COSTS – C
The ‘A-list’ countries included Austria, Belgium, Finland, Germany, Slovakia and Slovenia, while other B’s went to Ireland, Luxembourg, the Netherlands and Portugal, and Cs were handed out to Cyprus, France, Italy, Malta and Spain.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report
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