Greece growth to be worse than thought

Greece’s Finance Minister Evangelos Venizelos warned on the 19 August 2011 that the country is sinking deeper into recession, with revised forecasts indicating negative growth of close to 5% in 2011.

The new projection came as experts from the European Union and International Monetary Fund started assessing progress with fiscal and structural reforms before a decision is taken on releasing another €8bn slice of bail-out funding.

ESO: Background information: The Greek debt crisis of 2010 http://www.europeansources.info/record/the-greek-debt-crisis-key-sources/

ESO: Background information: Greek rescue package faces further hurdles http://www.europeansources.info/record/greek-rescue-package-faces-further-hurdles/

ESO: Background information: Greek economy shrinks again http://www.europeansources.info/record/greek-economy-shrinks-again/

Kathimeroni, 19.8.11: New measures may follow deep decline, hints Venizelos http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_4627_19/08/2011_402920

Website: Centre of Planning and Economic Research (KEPE) http://www.kepe.gr/EN_Pages/home.htm

Website: Hellenic Statistical Authority (EL.STAT) http://www.statistics.gr/portal/page/portal/ESYE

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