Greece’s economic growth despite its best efforts have been short of all expectations. Its GDP growth last year was at 1.4 percent compared to an initial forecast of 2.7 percent by the European Commission. Greece’s unemployment remains at 20 percent, although dropping from an original rate of 25 percent. Greece’s brief period of economic growth was impeded by Tsipras’ election and his clashes with the creditors. The country is aging and shrinking, according to its statistical authority and its banks are facing with highest ratio of sour loans. Regardless, Greece’s performance cannot be ignored. It managed to turn a budget deficit of 15.1 percent in 2009 as against the maximum allowance of 3 percent by the EU to a budget surplus of 0.8 percent in 2017. However, its time to consolidate the results.
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