• Greek govt had no other choice but focusing efforts on stabilising economy
• Greece deserves credit for fiscal efforts under EUR/IMF plan so far
• Immediate challenges facing Greece continue to be in the fiscal area, weaker than expected economy
• Greece needs underlying structural reforms
• Additional measures will be needed in Greece to cut deficit to suistainable level
• Greece should not resort to higher and higher taxes
• Greece will not be able to undertake fiscal consolidation without much stronger resolve to tackle tax evasion
• Greece must improve tax collection rather than put new and more taxes into the system
• Tax rates can only be reduced after Greece has managed to improve tax collection
• Greece must reduce public sector’s claim to resources
• Greece has made impressive progress, but further progress needed
• Concerned that Greek EU/IMF program does not have broad political support
• The ball is in the Greek court, implementation of reforms is key