Greek economy to shrink 5% this year, unemployment at 20% – Greek research group IOBE

Ughh

Reuters reporting.

The Foundation for Economic and Industrial Research projection (IOBE) in its quarterly review says Greek economy will shrink 5% this year and unemployment will reach 20%.

The EU Commission and IMF forecasts contraction of 4.7-4.8%

EUR/USD sits at 1.3342, pretty much where we started out this morning. Yawn…………