Greece's economy is estimated that Will Grow Back

Earlier this week, the Euro slipped to 3rd straight session versus the U.S. dollar after a European Central Bank policy makers, Ignazio Visco, said that the central bank may choose to apply a negative deposit rates.Citing MarketWatch, Monday (13/05/2013) in the news, the application of a negative deposit rate will require banks to park ECB funds in reserve to pay the costs. While the decline in yield on 3-year Italian bonds to the lowest level since January still seems to be failing to help the performance of the Euro. 

Strengthening of the U.S. Dollar across the board, which was triggered by the April retail sales data are solid, also complicates efforts to back Euro traded in positive territory.While, after 6 years stuck in a phase of recession, Greece's economy is predicted to grow again in 2014. 
 This country does not have a right to access international credit markets as usual, but the performance of the banking sector began to improve and it is believed will turn profitable in the near future.

One of the largest banks in Greece, Piraeus, even boasted to raise fresh funds from global investors to shy away from the threat of nationalization.  
Recovery in the banking sector could be a weapon Athens to withdraw investments and business interests, not only of its own citizens, but also from foreign investors over the last 4 years are allergic to news of financial crisis. 

Budget cuts is so painful because it certainly erodes the value of a country's economy and driving up unemployment.Absorption also increase the burden of the bailout fund future budgets as cheap as any one loan, the repayment will be difficult without an equal offset income.Greece is undergoing a phase of major slump in the fourth year since its first bailout disbursement. Consequences that must be endured in order to wipe out its deficit bloated budget.

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