EC sees milder Greek recession in 2015, debt ratio to climb to 200 pct in 2016

Economy Tags: Debt, EC, GDP, Unemployment
Photo by Stuart Chalmers via Flickr https://flic.kr/p/49JB98
Photo by Stuart Chalmers via Flickr https://flic.kr/p/49JB98

In its autumn economic forecasts published on Thursday, the European Commission (EC) revised its estimates on the Greek economy to take into account the uncertainty surrounding the bank holiday and the imposition of capital controls in late June.

The negative carryover from 2015 will result in a recession of the whole 2016, although recovery is expected sometime next year. The latter would be largely supported by an improvement in confidence, re-launching of investments and privatisations and st...

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