GREECE: A SUPPLEMENT TO EUROMONEY/DECEMBER 1997Recent weeks have not been easy for Greece. The first nine months of the year were marked by booming markets and optimism about the country’s place in Europe. The economy was flourishing. The government was popular. But since late October, little has gone to plan. The greatest problem has been the recent bond-market crisis which may have sustained repercussions. And then finance minister Yannos Papantoniou announced a belt-tightening “budget for convergence”, designed to allow Greece to qualify for European monetary union (Emu). |
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