A miracle happened, the economy of Greece yesterday, showed quarterly growth of 0.4%, so the patient still shows signs of life, and early began to write, but it is clear that only a drop in the bucket, and if you count it may be a minus. Need to reduce unemployment, it is the largest in the EU and officially is 26%, not all officially 40%.
Analysis of the Greek economy
- Thread starter DVS75
- Start date
To improve hard to believe since it has long been clear that if anything what will help the numbers to tweak in kukuyu advantageous way for a particular country, then it is beneficial to show other example of the European Union words in the wind drops and all their measures are having an effect so other countries do not think about leaving the EU because all of them will be good
Three programs of financial assistance provided to Greece since 2010 in exchange for the reforms, still not brought the country on the path of economic growth. 2016, despite the optimistic predictions ended with a zero indicator.
In fact we have the entire South in the same state as Greece, and that the truth on these most spread, but there is not a large improvement, although then we have to admit that the EU will have to pull them and then, to give such a duty is simply not realistic, and while Greece is preparing for the worst.
The Greek program had two main objectives: first, to restore the sustainability of Greek fiscal situation and, second, to enhance the competitiveness of the Greek economy. There are many who doubt that Greece can indeed get out of its fiscal predicament through the stabilization program agreed between Greece, the European Commission, the ECB and the IMF and its subsequent amendments. The crisis of confidence affected as international investors in Greek bonds and internal agents such as firms and households. Greece lost the confidence of international investors, and thus cannot borrow on the international level. In addition, he has lost the confidence of domestic firms and households that have refrained from investing in plant and equipment, and real estate. This is the second crisis of confidence, which was linked to the first, but also to the tax policy followed since the end of 2009, contributed to the unprecedented deep and long recession which makes financial predicament Greece is even worse.
They're dependent on other countries. The same tourism to take - put tourists because foreign companies. If they don't sell the vouchers, then Greece will suffer losses. That is, the economy is not self-sufficient. But it is better than in Russia, where all its in fact is, it is not strange.
the Eurogroup has agreed a new tranche of the loan to the Greek government
The source on the sidelines told the Russian journalists that the Council of Ministers of the member States of the Eurozone, agreed on the allocation of a new tranche for Greece.
To a question, the diplomat said that the agreed tranche in the amount of 8.5 billion Euro, write "RIA Novosti". It is expected that Athens will be able to get the money until the end of next month. Previously Pronedra wrote that the European Commission was positive about the outcome of future negotiations with Greece.
The process of approval of loan was not so smooth, but Greece has received approval from creditors after making the tough reform package. It into European structures called "Wellness", the reforms will help Greece to reduce social spending, to boost the economy. We will remind, at negotiations announced a solution aimed at alleviating the debt burden of Athens, but they are not yet known. One option was the cancellation of the debt, opposed to Germany, also examined the option of extending the loan terms.
The source on the sidelines told the Russian journalists that the Council of Ministers of the member States of the Eurozone, agreed on the allocation of a new tranche for Greece.
To a question, the diplomat said that the agreed tranche in the amount of 8.5 billion Euro, write "RIA Novosti". It is expected that Athens will be able to get the money until the end of next month. Previously Pronedra wrote that the European Commission was positive about the outcome of future negotiations with Greece.
The process of approval of loan was not so smooth, but Greece has received approval from creditors after making the tough reform package. It into European structures called "Wellness", the reforms will help Greece to reduce social spending, to boost the economy. We will remind, at negotiations announced a solution aimed at alleviating the debt burden of Athens, but they are not yet known. One option was the cancellation of the debt, opposed to Germany, also examined the option of extending the loan terms.
As in most first world countries, due to the global financial crisis in 2009, Greece became evident the recession, which since 2010 has intensified as a consequence of fiscal imbalances. The need for the state stability and strengthening the economy of the country led the government to the decision of the tripartite financial support from the EU, IMF and ECB. This is the solution affected the reduction of state spending that has led to the slowdown in GDP growth:
In 2010, 5.4%;
In 2011, 8.9%;
In 2012, 6.6%;
In 2013, 3.9%.
Starting in 2014, the economic state of Greece is beginning to stabilize, leading to positive GDP growth of 0.8%.
In 2010, 5.4%;
In 2011, 8.9%;
In 2012, 6.6%;
In 2013, 3.9%.
Starting in 2014, the economic state of Greece is beginning to stabilize, leading to positive GDP growth of 0.8%.
the New portion of the loan of Greece on behalf of the Eurozone – that is, from the European stability mechanism (ESM) - will be 8.5 billion euros, has informed journalists a source in the margins of the Eurogroup meeting.
"Today, it is 8.5 billion euros," he said, adding that the listing of tranches is expected.
Earlier on Thursday a source said that Greece may receive a new tranche of the ESM to mid July.
Another program of financial assistance to Greece by foreign creditors earned in 2015, the amount to 86 billion Euro of loans until the only lender remains ESM. The program should be completed in mid-2018. This is the third program in 2010. The previous two failed to reach the target and, consequently, be completed, they had somehow to Supplement.
"Today, it is 8.5 billion euros," he said, adding that the listing of tranches is expected.
Earlier on Thursday a source said that Greece may receive a new tranche of the ESM to mid July.
Another program of financial assistance to Greece by foreign creditors earned in 2015, the amount to 86 billion Euro of loans until the only lender remains ESM. The program should be completed in mid-2018. This is the third program in 2010. The previous two failed to reach the target and, consequently, be completed, they had somehow to Supplement.
Bloomberg writes that the agreement with creditors directed against the Greek people and said that this is not the last infusion of money to Greece and budushem likely to be more loans.
And the agreement with creditors, the editors of Bloomberg described as a game "simulation" and benefit from it and no new loans will not benefit the Greek government,International monetary Fund, and the population of Greece also benefit from it will not.
It is generally considered that Greece's debt is very heavy for her and the best way out of this would be a partial debt relief with this agreement and the sponsors agreement of the Eurogroup.
And the agreement with creditors, the editors of Bloomberg described as a game "simulation" and benefit from it and no new loans will not benefit the Greek government,International monetary Fund, and the population of Greece also benefit from it will not.
It is generally considered that Greece's debt is very heavy for her and the best way out of this would be a partial debt relief with this agreement and the sponsors agreement of the Eurogroup.
Agence France-Presse, citing the Ministry of Finance of Greece reported that for the first time in 2014 Greece plans to place bonds denominated in Euro with a maturity until 2022. It is expected that the interest rate will be fixed and less than in 2014, when it stood at 4.95%. This step is testing the waters for the possibility of self-financing their needs without resorting to the IMF and other financial institutions.
This year Greece is beating its fiscal plans and relations with international lenders has improved significantly. Given all this, it can be assumed that in 2018 will the third program of aid to that country by international lenders , in the future Greece will be able to do without the conclusion of the fourth programme of assistance, as the country has all the chances to move towards a sustainable growth of its economy.
This year Greece is beating its fiscal plans and relations with international lenders has improved significantly. Given all this, it can be assumed that in 2018 will the third program of aid to that country by international lenders , in the future Greece will be able to do without the conclusion of the fourth programme of assistance, as the country has all the chances to move towards a sustainable growth of its economy.