The Greek economy is stabilizing, according to Morgan Stanley estimates that the Greek economy will this year show growth of 0.1%, while for 2017 it estimates that the economy will grow by 1.8%.
Until now the bond market has reacted quite well to the normalization of the macroeconomic situation of Greece, with the yield of 10-year bond having fallen by 150 basis points and forming at about 7.4%.
The international organization believes that the economy has begun to leave the recession behind, however the austerity continues to burden the economy and halt the constant growth.
According to the report, the removal of restrictions like the controls on capital flows is considered a key to growth in the short term. However, it is noted that it will take time before there is a “true” normalization of the economy and it is stated that Greece will possibly have to wait until the German elections next year to significantly take measures to alleviate its debt.
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RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report
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