ATHENS (Dow Jones–Greece’s central bank governor Tuesday warned the country’s politicians that any deviation from strict austerity targets after May 6 general elections would risk forcing the country out of the 17-member euro currency bloc, even as the central bank signaled that the economy would contract by worse-than-expected 5% this year.
In an unusually blunt warning that cut through much of the lofty rhetoric coming from candidates, George Provopoulos said Greece faced a stark and historic choice between overhauling its economy as a member of the currency bloc, or turning back the clock on decades of economic development and eventual exit from the euro.
- Greece. Are We Done Yet? (isellerfinance.wordpress.com)
- Greek debt relief talks grind on (theglobeandmail.com)
- Greek Economy Shrinking Faster Than Thought (eurasiareview.com)
- Britain slips into recession (sofiaecho.com)
- John Ward – Greece : Why Would It Be Missed By The Eurozone? – 25 April 2012 (lucas2012infos.wordpress.com)
- UK Sinks into Double-Dip Recession (revolutioninmedia.com)
- Bank: brace for worse recession (nzherald.co.nz)