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

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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…………

7 Comments

  1. Love it that you “yawn” when its “flat” but then when its manic you yearn for a “flat” or more orderly day!!

  2. You’re absolutely correct Oliver. Just no pleasing me ;)

  3. No momentum. No follow-through. No fun.

  4. No kidding ;)

  5. tested 4 times to the upside, perhaps it will break to the southside, given all the poor data who knows, the market looked hell bent on going higher last week.

  6. I think I know why….QPR

  7. hahahaha (at yawn )

    i just read this article on greek economy
    http://half-bridge.blogspot.com/2011/12/greek-economic-problem-and-difficult.html

    and another one at NY times blog (cant find the link :( )

    kind of got me thinking … hmmmm ….. yawn hahaha

    justine :)

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