'Greek economic improvement surprises even the most pessimistic‏'

22:21 16/5/2014 - Πηγή: Matrix24

"A very positive course of the Greek economy on a fiscal and some macroeconomic levels proved wrong even the most pessimistic," the Center of Programming and Economic Research (KEPE) said on Friday.

In a report, KEPE said that even Nuriel Roubini -a well known doom-sayer and professor in Stern University- recently changed his mind about Greece and admitted that "the Grexit scenario is not going to be confirmed".

Unemployment,

after a stabilisation phase presented in the late 2013, seems to have entered a phase of decline. The European Commission, in its latest estimates, said that the unemployment rate was expected to fall to 26 pct in 2014 and 24 pct of the workforce in 2015.

The report also noted that the yield spread between the 10-year Greek and German benchmark bonds has fallen to levels last seen before March 2010, at 477 basis points, reflecting positive expectations by international investors in Greece, particularly following its successful return to international capital markets, although the spread rose recently on uncertainties over the outcome of the two elections in the country.

"But clearly, Greece has left behind the risk of a Grexit, which pushed the yield spread to 2,980.6 basis points in May 2012," the report noted.

source: ΑΜΝΑ