Greek economy sees record contraction of 15.2% in Q2

[Cabatli_TR]

Greek economy sees record contraction of 15.2% in Q2

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TAGS:Economy
Greece’s economy shrank 15.2% in the second quarter of the year as a result of a slowdown in economic activity stemming from restrictions to curb the spread of the coronavirus, the Hellenic Statistical Authority (ELSTAT) reported on Thursday.

While the year-on-year contraction was slightly below initial estimates for year-on-year losses in gross domestic product of 16%, it is still indicative of the shock to the economy from the spring lockdown.
The first 15 days of lockdown in early March had also taken a toll on the beleaguered Greek economy in the first quarter, with a GDP contraction of 0.9% compared to the first quarter of 2019 and 1.6% compared to last year’s second quarter.
In its worst-case scenario, the Finance Ministry had foreseen a contraction of 15.7% for the second quarter of the year, with the recession over 2020 as a whole estimated at around 8%, a development that would take the Greek economy back to 2017 levels.

Greek economy sees record contraction of 15.2% in Q2 | eKathimerini.com

Greece’s economy shrank 15.2% in the second quarter of the year as a result of a slowdown in economic activity stemming from restrictions to curb the spread of the coronavirus, the Hellenic Statistical Authority (ELSTAT) reported on Thursday.

www.ekathimerini.com

 

[Saithan]

Greek economy sees record contraction of 15.2% in Q2

• 

TAGS:Economy
Greece’s economy shrank 15.2% in the second quarter of the year as a result of a slowdown in economic activity stemming from restrictions to curb the spread of the coronavirus, the Hellenic Statistical Authority (ELSTAT) reported on Thursday.

While the year-on-year contraction was slightly below initial estimates for year-on-year losses in gross domestic product of 16%, it is still indicative of the shock to the economy from the spring lockdown.
The first 15 days of lockdown in early March had also taken a toll on the beleaguered Greek economy in the first quarter, with a GDP contraction of 0.9% compared to the first quarter of 2019 and 1.6% compared to last year’s second quarter.
In its worst-case scenario, the Finance Ministry had foreseen a contraction of 15.7% for the second quarter of the year, with the recession over 2020 as a whole estimated at around 8%, a development that would take the Greek economy back to 2017 levels.

Greek economy sees record contraction of 15.2% in Q2 | eKathimerini.com

Greece’s economy shrank 15.2% in the second quarter of the year as a result of a slowdown in economic activity stemming from restrictions to curb the spread of the coronavirus, the Hellenic Statistical Authority (ELSTAT) reported on Thursday.

www.ekathimerini.com

I think we should do as ret. adm. Kutluk said about going to UN with proof on the militarized islands.

Further more declaring with proof that Greece has lost the right to those island by militarizing them and declare those islands are hereby Turkish soil under invasion and that we reserve our rights to free these islands by any means necessary

This ought to work as a reality check.

Also we need to declare all the 150+ islands as ours to UN as Kutluk mentioned.

This should ensure more waste of ressources for Greece.

 

[Ryder]

Greeks were actually laughing at the Turkish economy for being broke.

Which really does not make sense especially for a country like Greece to be laughing at another countries economic problems.