Sunday, February 02, 2014

In the medium-run we're all older

Greek newspaper Ekathimerini on the country's long to-do list to please its official lenders --

OECD official Anna Thiemann, who was the project manager for the organization’s competition assessment review in Greece, told Sunday’s Kathimerini that Greeks would be able to see the positive effect of the interventions within five years.

So by the 2020s, the benefits will be flowing! That's an honest assessment, but remember these same type of reform were being sold to Greece, Ireland, and Portugal at earlier stages of their bailouts as being so fast-acting, they could offset the effects of austerity.