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Greece / Economy shrinks further: Bad news for jobs

The Greek economy shrank 7.2% in the third quarter compared with the same period a year earlier, statistics agency Elstat has said.

That was a deeper contraction than the 6.3% fall seen in the second quarter.

Greece has been in recession since late 2008 and has been granted two bailouts from the European Union and International Monetary Fund.

Athens had been given two more years to meet deficit targets, but is awaiting its latest tranche of bailout funds…

Choosen excerpts by JMM from

via BBC News – Greece’s economy shrinks further.

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