From 1974 to 2013, only three countries ever ran primary surpluses of 5% or more for a decade. The countries of the euro area reached an aggregate primary surplus of 3.6 percent only once, in 2000. However, the Greek bailout program not only demands a primary surplus of,4.5%  throughout the bailout program. It has also … Continue reading Greece’s mission impossible: Bailout demands Primary Surplus that not even Germany can achieve