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Greek economy to shrink 25 percent by 2014
The ailing Greek economy is on the verge of a 1930s-style Great Depression, as the Athens government predicted a 25% fall in GDP by 2014, putting intense pressure on the EU to relax the terms on the country’s €130bn (£105bn) bailout package The finance minister, Yannis Stournaras, said a decline…
Greece’s economy to exit recession only by 2014
WASHINGTON — Greece’s economy is expected to exit recession only by 2014, the International Monetary Fund said Thursday after announcing a new bailout loan for the heavily indebted country. The IMF projected the Greek economy would shrink about 4.8 percent this year, followed by zero growth in 2013 and a…
Greek economy in dire shape ahead of confidence vote
The Greek economy shrank 5.2 percent in the third quarter, official figures showed on Tuesday, highlighting the depths of the crisis as parliament debates approval of a new government to enact a debt rescue. Athens is racing against time to adopt deeply unpopular reforms demanded by its European and IMF…
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