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Image header Agence Europe
Europe Daily Bulletin No. 10855
ECONOMY - FINANCE / (ae) greece

Bank of Greece sees improvements but no room for complacency

Brussels, 29/05/2013 (Agence Europe) -On Wednesday 29 May 2013, the Bank of Greece highlighted the positive indicators which showed that Greece is on track for a return to positive growth in 2014, while unemployment should start to decline in 2015, but warned that there was “no room for complacency as risks and uncertainties still remain which could jeopardise stabilisation and undermine the prospects of economic recovery”. The Bank of Greece says that “despite progress in several areas, the functioning of public administration remains weak. This weakness leads to shortfalls as regards the implementation of measures previously passed by the Greek Parliament and effectively delays reforms that could mitigate the intensity of the recession. The protracted and deep recession, combined with the lack of liquidity, could increase the number of - essentially viable - businesses that are forced to shut down. Top priority should be given to achieving a primary surplus in 2013. Achieving the budgetary targets would bolster confidence in the Greek economy, while also eliminating the need for additional across-the-board measures”. (EL/transl.fl)

Contents

ECONOMY - FINANCE
SECTORAL POLICIES
EXTERNAL ACTION
INSTITUTIONAL
COURT OF JUSTICE OF THE EU