The Greek economy contracted by 1.8 percent in the second quarter as the beleaguered country deals with a crippling debt load. The pullback was greater than expected nearly doubling the 0.8 percent contraction during the previous quarter.
“Economic growth is likely to remain firmly in negative territory in the second half, given tight domestic credit conditions and the government’s austerity programme”, noted Platon Monokroussos, an economist at EFG Eurobankgiven.
Source: BBC News
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.