Policies for the reduction of national debt are unavoidable, but what the Greek economy needs more than anything else to break out of its vicious cycle is to press ahead with growth-generating economic reforms and build a path toward credible fiscal consolidation to regain market confidence. 2.
Mechanisms to stop the Greek fiscal crisis from spreading  The second problem concerns mechanisms to stop the crisis in Greece from spreading to other euro area member states. In response to the financial turmoil triggered by the collapse of Lehman Brothers in 2008, European countries introduced various measures to help boost the economy and rescue banks.