Blanchard notes that in 2012, Greece agreed “to generate enough of a primary surplus to limit its indebtedness” and to implement “a number of reforms which should lead to higher growth.” Those so-called reforms included sharply lower public spending, minimum-wage reductions, fire-sale privatizations, an end to collective bargaining, and deep pension cuts.
布兰查德指出，2012年希腊同意“形成足够大的初级盈余以限制债务负担”并实施“应该能提高增长的多项改革”。这些所谓的改革包括大幅削减公共支出、降低最低工资、“大甩卖”式私有化、结束集体讨价还价，以及大幅减少退休金。希腊履行了改革，但萧条仍在继续。