Greek PM Says Country to Grow in Q3 For First Time in 8 Years

Greece’s economy is expected to expand in the third quarter for the first time in eight years, Prime Minister Antonis Samaras said Saturday.

In a speech in the northern Greek city of Thessaloniki, Samaras hailed what he said was an “unprecedented success” in getting the heavily indebted country out of its deepest ever financial crisis.

“In a couple of years, we have made more reforms than in previous decades,” he said, referring to his tenure as prime minister.

Before agreeing to support a coalition government with the socialists in November 2011, conservative leader Samaras had opposed many of the austerity measures he later embraced wholeheartedly.

Samaras promised a 30 percent reduction in the taxation of heating oil, reversing a measure imposed in 2012 which failed to bring added revenue and adversely affected the environment. He also said he would lighten the burden of a much decried property tax based on property values from before the crisis.

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza