Greece's most influential think tank warned on Thursday of
a sharp drop back into recession in a report that came hours after
parliament approved a second package of reform measures aimed at securing a new bailout from international lenders.
In its quarterly report, the IOBE institute said that capital controls imposed last month to stop a bank run pushing the financial system into collapse would exact a heavy toll across the economy.
Reversing a forecast for growth this year of 1 percent made as recently as April, it said the economy would contract by as much as 2.0-2.5 percent after growing 0.7 percent in 2014 and would remain in recession next year as well.
In its quarterly report, the IOBE institute said that capital controls imposed last month to stop a bank run pushing the financial system into collapse would exact a heavy toll across the economy.
Reversing a forecast for growth this year of 1 percent made as recently as April, it said the economy would contract by as much as 2.0-2.5 percent after growing 0.7 percent in 2014 and would remain in recession next year as well.
Read more: Greece faces recession warning as bailout talks set to open
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