The Greek austerity marathon
In a paper [Greece's real challenge] for the CER, Katinka Barysch cites numerous examples of where the Greeks have failed to deliver. The troika of the IMF, the EU and the ECB demanded that Greece shrink its public sector by only replacing one out of every five people retiring but "between early 2010 and mid-2011, the government added 20,000 people to the public sector payroll".