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Deeper Greek recession forecast

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Deeper Greek recession forecast


Greece’s economy is set to contract by a deeper than expected five percent this year according to the country’s central bank chief, worse than the 4.5 percent decline previously forecast.

A lone protester holding a sign reading ‘Give us back our bonds’ and ‘Give us back our money’ stood on the steps of the central bank as inside the governor gave his annual report and a pep talk for what must happen after next week’s election.

George Provopoulos said: “Greece’s economy needs to make progress towards stability. We need to be completely ready immediately after the elections so the war can be won on all fronts, beginning with building a decisive and flexible state that’s competitive and has social cohesion.”

Provopoulos urged whoever is elected on 6 May to stick to Greece’s punishing austerity measures which have the country in its fifth year of recession.

But homeless people camping across the street from Athens’ stock exchange building are a reminder how the latest grimmer growth forecast means more misery for the Greek people.

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