Pages

May 13, 2013

Filled Under:

CNN: There is light at the end of the tunnel for Greek economy

It΄s been three years since Greece was granted 110 billion euros in the first of two bailouts by its EU partners and the International Monetary Fund. Harsh austerity measures have driven the economy into the ground since then. Unemployment has soared. More than 6 in 10 young workers are out of a job.

According to CCN, there may be light at the end of the tunnel. After six years of recession, the economy is forecast to grow again in 2014. And while Greece remains shut out of international financial markets, one of its biggest banks – Piraeus -- is  convinced it can raise enough money from global investors to avoid nationalization.

Here΄s a look at how Greece΄s economy stacks up today compared to what it looked like in the last full year before the bailout.

capital


The articles posted on HellasFrappe are for entertainment and education purposes only. The views expressed here are solely those of the contributing author and do not necessarily reflect the views of HellasFrappe. Our blog believes in free speech and does not warrant the content on this site. You use the information at your own risk.