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Tag Archives: growth

“Growth is here,” says minister as Greeks face new income cuts

“Growth in 2017 is a fact, not wishful thinking,” Economy and Development minister Dimitris Papadimitriou said on Wednesday. The year 2017 will be time for real growth in Greece the minister said and assured that there are no new measures to burden the people “from now until 2018”, while in …

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EU Commission to cut growth forecast for Greece, closer to IMF projection

The European Commission will revise down its growth forecast for Greece this year to around 2% from a previous 2.7%, an EU official said today. The revision – which brings the Commission closer to International Monetary Find projections – is likely to increase pressure on Greek politicians to adopt a reform …

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Gov’t spokesman says Greece is exiting the 7-year crisis, talks very close to agreement

“There are great social problems that need to be solved step by step, but for the first time we are facing the exit of the seven-year crisis”, government spokesman Dimitris Tzanakopoulos on Friday said in an interview to Kokkino radio station. He underlined that the issues remaining to be solved …

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Greek gov’t says no additional measures for 2018, after IMF publishes Fiscal Monitor

With its forecast report the International Monetary Fund set the base for a new negotiation between the Fund and Greece’s  European lenders, that is Berlin. In its Fiscal Monitor 2017, the IMF forecasts for Greece a gap of 2.7 billion euros for 2018. The fund estimates that the primary surplus …

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IMF lowers Greece GDP growth projection to 2.2 percent

The International Monetary Fund has lowered its projections on Greek growth from last fall and warned against “unreasonable forecasts” and “unjustifiable frameworks” by the country’s European creditors. In its World Economic Outlook, published on Tuesday, the Fund argued that growth in Greece this year will come to 2.2 percent against …

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EU Commission Forecasts Extend Greece Recession to 2017

The European Commission sees Greece’s economy returning to recession in 2015 and the following year, with growth only materialising in 2017, and urged the Greek government to comply fully with the terms of the third lending agreement in order to restore economic confidence. According to finance news MNI.com, in its …

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OECD cuts Greece’s Growth Outlook, increases Debt/GDP and Unemployment projections

The Organization for Economic Cooperation and Development cut its global growth forecast, saying investment is lagging and risks including a possible Greek default are hurting confidence. In its semi-annual report the OECD says  that “the world economy will expand 3.1 percent this year, down from the 3.7 percent predicted last …

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Obama, Merkel press conference: “Oh… Greece! I forgot, yes!”

“Oh… Greece! I forgot, yes!” German chancellor Angela Merkel was talking like a waterfall about the Ukraine crisis, about policies and politicians… and Ops! She forgot Greece, the issue that is currently shaking the European Union, the Eurozone and the markets. I don’t think, German Chancellor Angela Merkel was in …

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Guardian: “Greece needs debts cancelled and growth” say 35 economists

35 economists say that Greece needs its debts cancelled and growth. In an open letter to the Guardian, the economists from several countries say among others that “the negative impact of austerity policies weaken economies” and have “severe effects to the poorest households.” They urge national governments to support “a …

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Amphipolis’ Kebab & Persephone’s Gyros: 4,000 vendors want to open souvlaki grills near the ancient tomb

Funding the excavations and promoting the mysterious ancient tomb of Amphipolis, Prime Minister Antonis Samaras had an inner desire: to see the area blooming and attract thousands if not millions tourists every year.  Growth and development and revenues at full speed. And, indeed.  Samaras’ wish seems to come into fulfillment, …

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Greece got a plan: a “development model” named “Greece 2021”

Greece got a plan. A growth and development plan with the futuristic title “Greece 2021”, that is seven years from now. The plan was submitted by Finance Minister Yiannis Stournaras to Euro Working Group on Thursday in Brussels in the context with the Greek debt relief request. Here is to …

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