Thursday, June 09, 2005

Greece's Downward Spiral

An eye-opening Tehran Times report reveals the pessimism and gloom of Greece's position in the global village:

Greece's economy decelerated to the slowest in more than two years in the first quarter as a boom in investment before last summer's Olympic Games fizzled out and the government struggled with the EU's biggest budget deficit. Fifty-four percent of Greeks expect things to get worse in the next 12 months.

“Greece has been grappling with an underperforming economy for some years, and the short-lived Olympic boom has only served to emphasize deep-seated economic problems,” said Martell. Few optimists


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