Investing

Greece Keeps Shrinking

It is hard to see how Greece can repay it sovereign debt if its economy keeps shrinking.

According to several media reports including MarketWatch, “Greek gross domestic product fell by 1.5% in the second quarter compared to the first three months of the year, the nation’s statistics office reported Thursday. Compared to the second quarter of 2009, GDP shrank by 3.5%. The quarterly decline follows a fall of 0.8% in the first quarter. Greek GDP has fallen for seven consecutive quarters.”

Douglas A. McIntyre

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