The European Commission sought to distance itself from Greece’s decision to shut down its public broadcaster, saying the government in Athens acted in “full autonomy.”
Greece’s economy contracted for an 19th straight quarter in the first three months of this year as consumption and investment declined.
The older a country’s population, the lower its inflation rate, posing a challenge for central banks in the world’s industrial nations, according to a UBS AG report.
Greece’s public debt remains a risk to its recovery that could require faster European relief, the International Monetary Fund said as it criticized its own handling of the country’s rescue.
Greece’s 10-year yield fell below the rate on its 30-year securities last week for the first time in almost three years, adding to signs the bond market in the nation that triggered the euro region’s debt crisis is healing.
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.
Judging from the markets and English- speaking news media this week, Greece’s damaged economy has finally turned the corner. I doubt it.
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.
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.
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