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Parliamentary questions
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13 April 2018
Question for written answer E-002114-18
to the Commission
Rule 130
Nikolaos Chountis (GUE/NGL)

 Subject:  Impact of the implementation of the three adjustment programmes in Greece
 Answer in writing 

Greece has been under surveillance since 2010, with the declared aim of reducing its fiscal deficit and debt and restoring the competitiveness of the Greek economy.

However, based on the recent ECB Annual Report for 2009-2017, Greece:

Has the highest drop in GDP;

Has the highest drop in private spending;

Has the highest drop in public spending;

Has the highest drop in employment rate;

Has the highest unemployment rate;

Has one of the lowest GDP per-capita;

Is the only Member State with a negative savings rate;

Has the highest deflation rate;

Has the highest drop in worker pay.

All these facts, read in conjunction with the huge and non-sustainable public debt, are evidence of the complete failure of the three macroeconomic adjustment programmes that were planned and implemented by the Greek governments in cooperation with the Troika.

In view of this:

What is the Commission’s view on the results of the fiscal adjustment programmes that were, and still are, implemented in Greece?

Does the Commission feel that there were mistakes made in planning and/or implementing the austerity and reform policies, or does it feel that the above financial and social impact is just a ‘necessary and essential adjustment’ for Greece to stay in the Euro area?

Original language of question: EL 
Last updated: 25 April 2018Legal notice