Greek economy shrinks by 5.2% in the third quarter of this year

Gross domestic product (GDP) during the period reached 47.987 million euros.

The Greek economy shrank by 5.2% in the third quarter of this year compared to the previous quarter, announced today the Greek Statistical Authority (EFA).
According to this source, the gross domestic product (GDP) during the period reached 47.987 million euros.
A few days before the GSA had announced that unemployment in August was 18.4% of the population, despite an increase in employment for summer seasonal employment related to tourism.
This is the first time that decreases the recession since late 2009, when the statistics office was reformed helena was discovered that between 2005 and 2009 this organization had sent false financial data to the European institutions.
Thus, the economic contraction was 5.7% in the third quarter of 2010, from 8.6% in the fourth quarter of 2010, from 8.3% in the first quarter of 2011 and 7.4% in the second quarter of this year.
Yesterday november 14, The new prime minister of Greece, Lucas Papademos, said that the country needs to implement a new economic program, but the task was too big for the term of 100 days is expected to have his government of national unity.
"To continue with efforts to restore the economy need support from our European partners and a new program of fiscal adjustment," Papademos told us at the start of a debate that will end in a vote of confidence on Wednesday.
Supported by Greece's two largest parties, the Socialists of former Prime Minister George Papandreou and New Democracy conservative party LAOS-plus right-wing cabinet is expected to easily survive the vote of confidence.
COMPLY WITH THE EUPapademos said at another time to implement the commitments reached with its creditors to continue receiving international financial aid.
"The main task of this government is implementing the decisions of the summit (of the EU on October 26)," he said.