Europe sees Grecovery is on its way

Europe sees Grecovery is on its way

 

The Greek economy shrank by a smaller rate than the European Commission had anticipated in the first quarter of the year, a Brussels spokesman admitted on Wednesday, while Germany’s finance minister argued that the Greek recovery is on the right path.

In response to a question from Kathimerini’s correspondent in Brussels, Nikos Chrysoloras, Commission spokesman Simon O’Connor said that the 5.3 percent contraction of Greece’s gross domestic product in the period from January to March 2013 beat the forecasts of the European Union’s executive body.