Moreover, according to the Euro Plus Monitor 2014, Greece ranks first in the adjustment progress among twenty-one European economies, based on indicators capturing fiscal and external adjustment, labour costs and structural reforms. This period also witnessed significant institutional changes geared towards streamlining the public administration and downsizing the public sector.
In the period 2010–2013, public sector employment fell by more than 20% or 180,000 employees. New institutional reforms were adopted that lay the foundations for ensuring the better control of public spending and improving public financial management. Finally, the Greek authorities have greatly reshaped the taxation system by adopting the Income Tax and Tax Procedures Codes and the new unified Property Tax.