The Lack of Economic Freedom in Greece Is a Tragedy
While Greece has made some progress in restoring its macroeconomic stability and implementing much-needed initial fiscal adjustments since 2009, the highly unproductive public sector accounts for more than 50 percent of gross domestic product (GDP), and the country continues to confront a daunting debt burden and severe erosion of competitiveness. Serious challenges remain in government spending and freedom in labor and product markets. The fiscal deficit remains approximately 4 percent of GDP, and public debt exceeds 170 percent of GDP.
Source: heritage.org