Judging from the markets and English- speaking news media this week, Greece’s damaged economy has finally turned the corner. I doubt it.
Greek Prime Minister Antonis Samaras promised to give the “red-carpet treatment” to foreign investors as he visited China to help revive an economy that contracted for the 19th straight quarter.
Greece won an upgrade by one level from Fitch Ratings, which cited the country’s progress in rebalancing the economy and bringing its deficits under control.
European Central Bank Governing Council member George Provopoulos comments on the debt crisis, the ECB’s bond-buying plan, Cyprus and the Greek economy.
Opap SA fell after Greece’s state asset sales fund accepted a revised offer from Emma Delta, the only group to submit a valid binding bid for a 33 percent stake in Europe’s largest listed gambling company.
Greece’s economic indicators signal its recession may have bottomed out amid a drop in yields and a surge in shares, Jan von Gerich at Nordea Bank AB said.
Greek economic sentiment improved in March to the highest since October 2009, when the disclosure of a budget blowout triggered what has become the euro-area financial crisis.
The Greek economy returned to growth in the first quarter as calls intensify for a new European Union-led rescue to stave off a default.
Greece needs the return of bank deposits as much as the recapitalization of lenders to kick- start the economy, said Finance Minister Yannis Stournaras.
Greece’s economy will contract by more than forecast this year as rising unemployment and wage and pension cuts curb domestic demand, the Foundation for Economic and Industrial Research said.
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Millennium's Mauldin Says Greek Economy to Collapse
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