EERA: the Beginning of the recovery or parenthesis, it will look at the end of the year

Stop waiting until the end of the year, in order to determine whether the elements of the 3rd quarter for the Greek economy are “beginning of the recovery or a …
even parenthesis”, by the Hellenic Confederation of Commerce and Entrepreneurship (ESEE).
In a statement, the EERA observed that the increase of GDP in the third quarter of the year by 1.5% compared with the prior year, overturning forecasts for a slight contraction of the Greek economy and the 2016.
The ESEE notes that this change overlaps with the recession of the first half of 2016, and multiplies the chances of a return to positive rates of change of GDP from the beginning of 2017. It also expresses the hope that “the first positive signs are here to stay, and there won’t be another parenthesis, and to continue in the decisive last quarter, leaving behind the negative trend, as the respectively, of -0.8% and given-0.6% of the first two quarters”.
The Confederation stresses that the market requires money and climate, and takes a positive view of the fact that re-created some hopes for exit from recession. Within the EERA, the imported consumption of the tourist season July – August, the small recovery in construction activity and the increase of 1,4% in the index of imports in the industry in September, contributed decisively to the final configuration of the data of ELSTAT.
However, as noted by the Confederation, to be followed up in a positive sign for the third quarter and won the wager of the real economy in depth for two years, required a settlement of the private debt into public, insurance funds and banks. In this direction, the HQ stands on the need for a rapid resolution of outstanding issues related to the establishment and operation of the “extra-judicial Mechanism for setting off arrears of business and the professions’.
“The return on liquidity, the formation of a business friendly environment and especially the reduction of υπερφορολόγησης are key prerequisites of small and medium-sized towards the μνημονιακές austerity policies. It would be therefore desirable in the context of the negotiation of the 2nd assessment to occur the conditions necessary relief, rather than burdens it with new measures that demonstrably lead nowhere the country’s economy,” concludes the EERA.
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