“A key risk is a reversal of reforms already carried out, which would create uncertainty and could hamper the recovery,” the IMF said.
Despite the positive environment, the IMF sees persistent structural problems, including “very high” unemployment, low productivity and high levels of debt. It recommended further action on the labor-market and, noting that budgetary efforts have lost pace, said credible fiscal consolidation must be maintained.
The persistent structural problem is "austerity in the middle of a high unemployment recession." Still the beatings must continue. They will eventually work!