The Wall Street Journal

Greece Falls Back Into Recession
The Wall Street Journal

Greece slipped back into recession in the first quarter, European Union data confirmed on Wednesday, showing how the confrontation between the Athens government and its creditors and uncertainty about the country’s ability to pay its debts is taking a fresh toll on its battered economy.

Political uncertainty has been weighing on Greece’s economy since late 2014, reversing a tentative recovery that began early last year.

Greece’s snap elections in January, which resulted in the election of a new government led by the radical-left Syriza party, have led to a monthslong standoff between Athens and its lenders—the rest of the eurozone and the International Monetary Fund—about the conditions of fresh bailout aid.

Uncertainty about whether Greece’s government might default on its debts this summer, potentially leading to the country’s exit from the euro, has unnerved businesses, consumers and bank depositors. The country now finds itself back in the downturn that has wiped out a quarter of its economic output since 2008.

The EU’s executive arm, the European Commission, recently reduced its forecast for Greek GDP growth in 2015, saying it now expects the economy to expand 0.5%, instead of an earlier, more optimistic forecast of 2.5% growth.

Quand les Grecs ont élu des gauchistes en début d’années, j’ai dit que ce serait une autre occasion de démontrer que la gauche, ça ne fonctionne jamais.

Résultat ?

Les Grecs ont élu des gauchistes, les gauchistes ont mis fin à l’austérité et la fin de l’austérité a signifié un retour en récession du pays.

Amis gauchistes, comme d’habitude vous aviez tort et comme d’habitude j’accepte vos excuses.