Reuters: Greece is starting to wake up from the coma
11.06.2013
12:28
The sound of hammers from constructions has began to be heard again, while Greeks are waiting patiently in banks not to take their money, but to make a deposit, the article notes. "It's true, the phone began to ring again, but people do not make orders," Nikos Papadopoulos, carpenter, tells Reuters.
"Greece begins waking up from its coma,» Reuters reports stressing that the country’s "recovery may be sluggish."
The sound of hammers from constructions has began to be heard again, while Greeks are waiting patiently in banks not to take their money, but to make a deposit, the article notes. "It's true, the phone began to ring again, but people do not make orders," Nikos Papadopoulos, carpenter, tells Reuters.
Now, a wind of optimism has began to blow in Greece and the word «Grexit» seems more distant with prime minister Antonis Samaras currently talking about development (Greekovery writes in Reuters).
However, this shift may be not be seen to the Greeks or not measured in numbers, which still highlight the difficulty of the situation, reads the article, while referring to unemployment that has reached a record 27% in Greece, with two out of three young people being unemployed.
And while Samaras speaks of a «success story», all show that Greece will need a further debt relief to be able to stand on its own feet.
Economist Christoph Weil from Frankfurt says, "I will be very careful about discussing a success story. It is normal that the economy will slowly start to recover, but for sustainable recovery, Greece must implement the reforms and get a further debt relief."
The sound of hammers from constructions has began to be heard again, while Greeks are waiting patiently in banks not to take their money, but to make a deposit, the article notes. "It's true, the phone began to ring again, but people do not make orders," Nikos Papadopoulos, carpenter, tells Reuters.
Now, a wind of optimism has began to blow in Greece and the word «Grexit» seems more distant with prime minister Antonis Samaras currently talking about development (Greekovery writes in Reuters).
However, this shift may be not be seen to the Greeks or not measured in numbers, which still highlight the difficulty of the situation, reads the article, while referring to unemployment that has reached a record 27% in Greece, with two out of three young people being unemployed.
And while Samaras speaks of a «success story», all show that Greece will need a further debt relief to be able to stand on its own feet.
Economist Christoph Weil from Frankfurt says, "I will be very careful about discussing a success story. It is normal that the economy will slowly start to recover, but for sustainable recovery, Greece must implement the reforms and get a further debt relief."
The current rescue expectations for the weak GDP growth of 0.6% in 2014 are unrealistic, economists say. But this is far from the annual growth rate that must be achieved by Greece in 2015 - 2021 (3%) in order to make its debt sustainable.
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