Entitled "Yasou: Amazing how Greece is recovering!" Businessweek magazine hosts a bizarre article on the Greek economy. The report uses as its axis the chart with the yields of the 10-year bonds of the Greek government and as it states, this chart itself describes an admirable story.
"Two years ago, Greece was trapped. "The yield on the 10-year bond was 30% and has now fallen below 7%, a sign that investors have begun to believe that the Greek state can cope with its debt."
It is very rare, as the columnist reports, for a country to have managed to correct its image in such a short period of time.
The report also focuses on what led to this situation.
The columnist claims that the "cheap loans of the Troika" that did not allow Greece to enter the markets were catalytic.
He also points out that the government has successfully managed to cope with many cost cuts, which were necessary in order to regain investor confidence.
Special mention is made of the primary surplus, which as Businessweek writes was conquered earlier than expected, while it is pointed out that the country hopes to enter the markets before the European elections.
The stoicism with which the Greek people endured the economic crisis is pointed out. The Greeks had to go from "I live beyond my means" to "tighten the belt". The standard of living fell dramatically and unemployment soared to 27%.
Finally, the article refers to the very successful share capital increases of Greek banks in recent days, to the projects planned, such as Kasteli airport and Patras-Pyrgos, to the free Internet access that will be given in many places and to the great increase in tourism that expected this year.
Source: CITIZEN