Greece is finally growing again. But it has been arguably the eurozone’s greatest failure. Catapulted into a debt crisis with a 15 per cent government spending deficit in 2009, the country suffered eight years of economic contraction. Unemployment is still 23 per cent, youth unemployment 45 per cent. Greece’s “Great Depression” has been as deep as that of the US…
“There are clear signs of stabilisation and a gradual recovery,” George Pagoulatos, an economics professor at Athens University of Economics and Business, said. But analysts sounded a note of caution, despite the bond sale. “It’s the first market access since 2014 so it’s definitely a positive development. But I don’t think it’s cause for celebration,” said Mr Pagoulatos. “We’re back…
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As the familiar saga unfolds of another seemingly never-ending review and a looming deadline of debt payments (€7.4bn due in July), it is tempting to view the Greek crisis with a mix of déjà vu, exhaustion and resignation. Add anger and despair, since these are the prevalent emotions in Greek society as well – for good reasons, to be fair.…
‘Optimisme is voor de Grieken een noodzakelijke overlevingsstrategie’ De Grieken begrijpen het niet meer. Ze halen uitstekende begrotingscijfers, maar toch zwaaien de schuldeisers met nieuwe besparingen. Veel meer kan de Griekse economie niet meer hebben, waarschuwt de Atheense professor George Pagoulatos. Het Griekse herstel – dat al zo broos is -dreigt dood te bloeden. Alweer. Rondjes draaien. Dat is de…