19 Central Bank estimates from the Labour Force Survey (CSO). 20 See Barrero et al. (2022). 21 This contrasts with recent evidence for the US in Blanchard et al. (July 2022), which suggests that the Beveridge curve  has shifted out, consistent with a decline in matching efficiency.
In the 15 years until 1994 - the year in which Greece's efforts to qualify for euro-area entry began in earnest - inflation averaged almost 20 per cent while real growth averaged less than 1 per cent. In contrast, during the past 6 years real growth has averaged more than 4 per cent while inflation has been slightly above 3 per cent.