Risks and major challenges ahead Despite the positive signs that are being recorded today and the progress achieved, there are still downside risks to the outlook of the Greek economy. In the short-term, the main risk is a delay in the completion of the third review of the programme, which will fuel a new cycle of uncertainty.
In such a case economic recovery and the return to international financial markets will prove to be short-lived. In addition, there are external risks associated with developments in global financial markets and geopolitical factors. There are also some medium-term challenges that need to be addressed in order to strengthen the positive outlook.