Finally, it is essential to improve the institutional setting by improving budgetary procedures, introducing fiscal rules and independent fiscal councils and improving medium term fiscal planning. All these actions will enhance transparency, improve accountability and fiscal planning and will contribute to better spending control and improve the probability of successful fiscal consolidation.
A better exploitation of government fixed assets through a targeted privatization programme and the adoption of growth promoting structural reforms will also facilitate the reduction of high debt ratios without increasing inequality. On Greek debt Last but not least, let me now refer to the case of Greece.