Greece faces long road to recovery, despite financial rebound

Today was a big day for Greece’s struggle to become normal again. There are some smiles around, but a lot of hard effort still ahead. The following article at Hellenic Shipping News here is a very good account on what is going on on the ground.

Greece faces long road to recovery, despite financial rebound

Nikos Mavrikos has fired half of his employees since 2010 as the Greek economy imploded, leaving his ship supply business on the verge of collapse. February marked a turning point, however: Mavrikos made a hire, his first in four years.

“People are slowly starting to trust Greece again,” says Mavrikos, who hopes to take on even more employees soon at his family-owned business.

Greece is experiencing a remarkable financial recovery. Just two years ago, the country was expected to default and exit the euro, possibly setting off a messy unraveling of the entire currency bloc.

Today, after a tough regime of layoffs, wage cuts and reductions in government spending, factories are beginning to hum again, Greeks are starting to buy cars and other products again and the country is being courted in financial markets. The government is looking to the end of a tough international emergency aid program at the end of the year.

Continue reading here

About panosnomikos

I have published "Fateful Eyes", an intriguing novel about love, war, financial crisis and a man's quest to comprehend fate's dizzying gaze...
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