• Shortcomings in implementation of savings programme, but Government made progress in budget consolidation
  • Mid -term growth may see a downward revision
  • Greece prepared additional income/expenditure package, which should reach 2012 deficit goals
  • 2011 budget gap still not closed
  • Recommends disbursement of 6th tranche od debt aid asap, financial sector situation still fragile
  • Debt dynamics remain extremely worrying