Greek monetary policy report stresses convergence

Competitiveness and productivity are key to Greece's economic convergence with the rest of the eurozone, according to the latest report on monetary policy from the Bank of Greece, submitted to parliament yesterday. For the health of the Greek economy, increases in productivity should always exceed rises in wages (as they did in 2000) and long-term inflation should be harmonized below the EU average (rather than the current percentage point above).

Having given up its monetary policy to the

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