In this issue

Reform: Commentary by the country’s greatest 19th century novelist is given a new airing

Overview: Resolved to see reforms through

Structural adjustment targets are being met but at enormous cost

Single currency: Hardships fail to diminish enthusiasm for euro

Commitment to the project remains strong, reports Peter Wise

Financial services: Banks expect they will soon be in a better state

Recovery is forecast to begin next year, says Victor Mallet

Economy: Country prepares for life after debt

Positive signs are emerging, writes Peter Wise

Privatisation: Extensive sell-offs constitute irreversible retreat by government

‘A rapid and full divestment’ is in train, writes Peter Wise

Competitiveness: External pressure ‘best chance for change’

For the first time, there is appetite for structural reform, reports Peter Wise

Politics: Bailout agreement enjoys support across party lines

But there is no guarantee that austerity will pay off, says Peter Wise

Business climate: Hopes pinned on a new economic model

Miles Johnson considers the prospects for foreign investment

Maritime industry: Oceangoing nation opens new chapter

A hard-headed business approach seeks ways to profit from the sea, says Victor Mallet

Tourism: Outlook bright despite VAT rise

Luckily, the industry has several factors working in its favour, reports Jill James

Energy: Regulatory uncertainty clouds outlook for power sector

The government wants to escape expensive legacy contracts, says Miles Johnson