In-Briefs

Greece: Finance Minister Optimistic Over Future

January 29, 2013
| Economics
| Europe
Greek Minister of Finance Yannis Stournaras said yesterday the government has turned the economy around . . . Stournaras claimed that all the leading indicators are positive, and the country is two-thirds of the way to meeting its targets . . . he also predicted that “towards the last quarter of 2013,” the country will have a recovery, and Greece will experience growth in 2014 . . . Stournaras also said there is very little chance Greece will leave the euro . . . despite his optimism, Stournaras faces extreme difficulties in righting the Greek economy . . . social unrest is likely to continue, as unemployment sits at 26.8% and the public is angry over continued austerity . . . economists estimate the economy will contract 4.5% this year, making growth next year unlikely . . . moreover, international lenders may forgive part of Greece’s debt, but appear unsympathetic to loosening austerity requirements, which will spark more public protests and further pressure Athens.
 


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