The number of people, who favour default, inflation or even exit from the euro doesn’t seem to be prevalent in Greece. WSJ: Do you think the acute phase of the crisis has passed? It struck us this week that once the deal was decided, we didn’t see the kind of elation we’ve seen after past programs.
The measures should focus on enhancing wage flexibility and increasing competition in product markets, particularly in services. However, the need for structural reform does not stop with the euro area countries hit most by the sovereign debt crisis. For instance, the US economy would benefit from a more sustainable growth model, where solid and medium-term oriented economic policies strengthen potential growth and job creation.