Alarm at drop in Greek GDP

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first_img Alarm at drop in Greek GDP Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot whatsapp Show Comments ▼ whatsapp Tags: NULLcenter_img Thursday 12 August 2010 8:29 pm WEAKER than expected growth from Greece and a surge in unemployment spread fresh fears in the City yesterday over the country’s ability to weather the sovereign debt crisis.The Greek economy shrank by 1.5 per cent in the second quarter and the unemployment rate jumped to 12 per cent, according to official statistics, reflecting the pain of drastic austerity measures agreed with lenders in a bid to battle its debt crisis. The disappointing GDP figure was significantly lower than the one per cent drop expected by economists and pushed up the cost of protecting Greek government debt against default. It now costs €795,000 a year to insure an exposure of €10m of Greek government bonds, according to CDS monitor Markit.The Greek economy is expected to contract by four per cent this year, according to the EU and IMF.The figures also intensified concerns over the health of fellow weak Eurozone members sending investors rushing into safe haven assets with the spreads between Bunds and Greek, Portuguese, Irish, Italian and Spanish debt rising sharply.“It is an interesting little warning sign. The problems have not gone away, the cracks have just been papered over,” said Evolution’s Gary Jenkins. KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanReporter center[Photos] Meet The Man Katie Couric Is Romantically Involved With In 2021Reporter centerBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading Blvd Sharelast_img

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