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Governor BoG: “Greece is gradually exiting economic crisis”

I was really impressed this Monday noon to listen to promising and inspiring message of the governor of the Bank of Greece. “Greece is exiting the economic crisis,” Giorgos Provopoulos told audience at central bank’s annual shareholder meeting.

Despite the markets’ confidence, Provopoulos did not forget to stress that Greece’ economy will continue to contract this year too, while unemployment will still increase. “Recovery will begin in 2014,” Provopoulos added, in fact repeating what the EU Commission said in its forecast, last week.

Bloomberg: Greece Gradually Emerging From Crisis, ECB’s Provopoulos Says

“There is no doubt that 2013 will be a difficult year, chiefly because of the continuing recession and high unemployment,” Provopoulos said in an e-mailed transcript of his speech to Bloomberg. “The continued implementation of Greece’s program is a precondition for the country’s recovery.”

The country needs to broaden the tax base by cracking down on tax avoidance and lighten the burden on those who do pay tax, Provopoulos said. It also needs to achieve a new export-oriented growth model for its economy.

“The danger of a collapse has been avoided, the prospect of a euro exit distanced and confidence gradually restored,” Provopoulos said. “These encouraging developments don’t leave any room for complacency though.” (full story Bloomberg)

Provopoulos also revealed that poverty increased by 43,1% within one year.

PS Hear! hear! I just read on this week’s horoscope, that the Full Moon on Monday, February 25th 2013, in  Virgo is full of deception and it brings losses in employment, business and health. The size of the economic crisis, unemployment and difficulties in all professions will dramatically emerge.

No need to worry unless you’re called “Provopoulos” and have a very well-paid job, bonuses goes extra 🙂

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