Greece's economy remains deep in recession

Aug. 13, 2012 - PRLog -- as the Statistics Office reported Elstat. Optimists evaluated as a slight glimmer of hope that the downturn not accelerated. Earlier this year the economy had slumped by 6.5 percent. Prime Minister Antonis Samaras had recently announced that the economy could shrink in 2012 by more than seven percent.

Many economists had expected the data Sun "We knew that the economy weakens further," said Chris Williamson, chief economist at the London Research Institute Markit. "But it is hopefully a sign that the decline is now bottomed out." In the first half they had the worst is now behind perhaps. Euro Bank analyst Theodore Stamatiou expected for 2012 is the contraction of gross domestic product (GDP) of 7.1 percent and 2.4 percent for 2013 - "because of further significant declines in disposable income, rising unemployment and einbrechender investment." Finally, the unemployment rate had risen to 23 percent.

Greece depends on the regional life of its euro partners and the International Monetary Fund and fighting continued despite multiple bailouts from the government default. Financial experts from the so-called Troika of the EU, IMF and European Central Bank in September, return back to Greece in order to check whether the State meets its reform commitments. This determines whether a good 30 billion euros will be released.