Bloomberg: Greece back into recession
Greece’s economy went back into recession in the first quarter as a standoff with its international creditors renewed doubts about its place in the euro area.
- Published in Greece
Greece’s economy went back into recession in the first quarter as a standoff with its international creditors renewed doubts about its place in the euro area.
Journalists were waiting for Greek Finance Minister Yanis Varoufakis outside the ministry on Wednesday morning but it was a cleaning lady who managed to elicit a newsworthy statement.
The Social Security Foundation (IKA), Greece’s largest pension fund, has decided to take short term loans worth €360 million in order to pay June’s pensions to its members, financial site enikonomia.gr reports.