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Recession and GREXIT threaten Greece in 2016, according to The Economist magazine

25 December 2015 / 12:12:15  GRReporter
2434 reads

2016 too will be a year of recession for Greece and GREXIT will continue to threaten the country, as stated by the financial magazine The Economist in its annual forecasts.

Every year The Economist publishes its forecasts on the development of the economies of countries such as the US, Russia, Turkey, Austria, France and Germany. The magazine claims that the risk of Greece's exit from the euro has not disappeared, although it may be postponed for later.

At the same time, the magazine writes that 2016 will be a year of recession for Greece and it will reach 1% of GDP. "Alexis Tsipras, the leader of the anti-memorandum SYRIZA party is entering 2016 with a new mandate having won the snap elections in September, despite the fact that he succumbed to creditors and agreed to a strict bailout hated by the people," reads The Economist, continuing, "This confusion is taking Greece to negative growth and high debt that no one inside or outside of Greece considers sustainable. GREXIT is still possible, but may be postponed so that in 2016 Tsipras, Greece's creditors and citizens can breathe again."

Tags: The EconomistAnnual forecastsRecessionGrexit
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