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Greek economy to shrink 2.3% in 2015, 1.3% 2016: EU sources

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Greece will tumble back into deep recession this year and next, EU sources said Wednesday as Athens implements a tough third debt rescue hammered out with its international creditors.

[BRUSSELS] Greece will tumble back into deep recession this year and next, EU sources said Wednesday as Athens implements a tough third debt rescue hammered out with its international creditors.

The Greek economy, which crawled out of a six-year recession only in 2014, will shrink 2.3 per cent in 2015 and another 1.3 per cent in 2016, the sources said, as the authorities push through a bailout aimed at helping Athens stay in the eurozone.

AFP

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