OECD'S recipe could help Greece stand out in key areas, says senior economist

Greece has broken every record with the speed of its fiscal adjustment and reforms, yet after three memorandums and six years, the competitiveness of its economy continues to lag behind some developing countries, according to Sean Ennis, senior economist at the Organization for Economic Cooperation and Development's Competition Division.

In a competition assessment review for Greece, presented in Athens recently, Ennis outlines 356 recommendations for reforms with an economic effect of 414 million euros that would help Greece stand out in key sectors.

Do you believe it's worthwhile for the government to bear the political cost of additional reforms for such a small return or are there non-quantitative effects as well? If so, what are they?

We would not regard this improvement as small, particularly given that the estimated impact is 414 million...