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Banking fragility rooted in justice failures Evidence from Ukraine
Policy Contribution

The European experience with large fiscal adjustments

29 April 2010

The European experience with large fiscal adjustments

The Greek government has promised that it will cut its deficit by about 10-12% of GDP. In their review of past episodes of fiscal adjustments in the EU, CEPS researchers Cinzia Alcidi and Daniel Gros find such a huge adjustment is possible but it will probably take at least five years, and might still leave the country in a highly unstable position.


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The European experience with large fiscal adjustments
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