in terms of growth, primary and fiscal surplus, current account surplus, the spread of Greek bonds vs. the German Bund – the other 3 countries during the corresponding exit periods. This is obviously comforting to both our lenders and the markets for the future of Greece after the MoUs.
In particular, these headwinds relate to the continued need for public and private sector deleveraging as well as the persistent weaknesses in labour and housing markets in some advanced economies. These factors, combined with the ongoing tensions in financial markets, are expected to restrain global growth over the medium term.