Tsakalotos briefs Eurogroup counterparts over ‘positive scenario’ for crisis-battered Greek economy

Greek Finance Minister Euclid Tsakalotos reportedly presented Eurogroup counterparts in Brussels on Friday with a “positive scenario” for signs of an economic recovery in 2016, with ministry sources back in Athens pointing to a 0.2-percent increase in Q2 GDP – in comparison with the same quarter in 2015 — as the beginning of the turnaround.

The same unnamed sources, according to the state-run news agency, said the leftist Greek government now forecasts that the recession in the country will only record a 0.3-percent decease for the year, improved from previous and much gloomier predictions.

Nevertheless, the prospect of another shrinkage in Greek GDP means that the economy has continued an almost unending tailspin since 2009.
The same sources said talks at the Eurogroup setting confirmed the view that the Greek government must implement another 13 pending “prior actions” by the end of this month in order to receive a 2.8-billion-euro sub-tranche in bailout loans.

Tsakalotos also reportedly again tabled Athens’ request for at least short-term debt relief measures, as well as deciding what medium-term measures can be taken.

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