Image default
Greek News

Wall Street Journal editorial: “A Greek Economic Revival”

The Wall Street Journal editorial board published an article lauding the surprise comeback of the Greek economy titled “A Greek Economic Revival”. The piece stressed that the tax cut policies and deregulation measures have boosted the country’s economic prospects which is confirmed by last week’s ratings upgrade by Fitch to BB.

From the WSJ:

You’ll never guess which European country recently earned a credit-rating upgrade: Greece. Yes, that Greece. The eurozone’s perennial laggard suddenly finds itself six months into a remarkable economic turnaround.

Fitch on Friday upgraded Athens’ government debt one notch, to BB, and signaled more optimism about the economy and government finances. Athens remains two levels below investment grade in Fitch’s eyes, but investors are more bullish. The yield on Greek sovereign bonds fell to an all-time low of about 1.15% Monday, compared to 1.04% for Italy.

Investors also think Athens’s goal of 2.8% GDP growth this year and 3%-4% growth beyond that is obtainable. The stock market surged 49% in 2019, mostly in the second half of the year. Business confidence is higher than in the eurozone overall, and unemployment of 16.6% in October was the lowest since 2011.

more at wsj.com

Σχετικα αρθρα

Which countries use the most electricity? (infographic)

admin

PM Mitsotakis: Aegean Airlines’s acquisition of Airbus aircraft one of largest ever

admin

Bankers back down on fee hikes after meeting with PM Mitsotakis

admin

Greek bonds hit new historic low breaking the 1.4% threshold

admin

Wall Street suspends trading as stocks drop by 8% on opening due to coronavirus

admin

The country’s construction sites remain operational during the coronavirus crisis

admin

Digital ads move to mobile (infographic)

admin

Eurogroup’s decisions fully meet Greek positions, Staikouras says

admin

Greece first in investments per GDP with €12.1 billion under Juncker Plan

admin

Significant deal for direct Athens-Shanghai flight connection reached

admin

Huge budget surplus of over € 3 billion forecast for 9-month term

admin

Where people work beyond the age of 65? (infographic)

admin

Over a quarter million people visited the 84th TIF in Thessaloniki

admin

Greek PM Mitsotakis meets UAE Minister of State Sultan Ahmed Al Jaber

admin

PM Mitsotakis greets European Investment Bank VP McDowell with a fist bump (photos)

admin

Largest African Economy Banned from U.S. (infographic)

admin

Jobless rate falls in May to 17.2%

admin

Greek 10-Y bonds reach record low at 1.53%

admin