Reforming Greek Reform

In the short to medium run, increasing Greek competitiveness requires remedies targeted at specific binding constraints faced by exporters. A Greek program that identifies these constraints and proposes remedies would be much better economics than blind adherence to the current laundry list of structural reforms.

PRINCETON – Greece's new government, led by the anti-austerity Syriza party, presents the eurozone with a challenge that it has not yet had to face: dealing with national officials who are outside the traditional European mainstream. Syriza is in many ways a radical party, and its views on economic policy are often described as hard left; but the party's take on debt and austerity is supported by many perfectly mainstream economists in Europe and America. So what sets Syriza apart?

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