| Author (Person) | Hope, Kerin |
|---|---|
| Series Title | Financial Times |
| Series Details | 14.5.11 |
| Publication Date | 14/05/2011 |
| Content Type | News |
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Greece’s economy showed marginally positive growth in the first quarter of 2011, overturning the Finance Ministry’s negative first-half 2011 forecast and taking analysts by surprise. The unexpected good news came on the 13 May 2011 at the end of a week of fevered speculation that Greece would be forced into an early debt restructuring, with officials from the International Monetary Fund and the European Commission pressing the government to ramp up painful austerity measures and launch a €50bn privatisation programme. But analysts warned the improvement could be short-lived as Greece’s economy is expected to shrink by 3.5% in 2011 overall on top of 4.4% in 2010, according to Elstat, the Greek statistics authority. |
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| Countries / Regions | Greece |
