Horn, Gustav A.; Lindner, Fabian; Niechoj, Torsten; … - 2011
consolidation measures which are monitored by the EU Commission, the ECB and IMF (troika). Up to now, Greece has received 65 billion … implemented consolidation measures of 18 billion or 7.7% of GDP. Despite this harsh consolidation, Greece misses one deficit … fact that the troika significantly underestimated the negative impact of austerity measures on growth: The Greek economy is …