25 February 2013 13:07

ATHENS  — The governor of the Bank of Greece says the country's recession has cut output by 20.1 percent between 2008 and 2012, but argues the country's economy is "clearly improving" after avoiding the dangers of a default and euro exit.

European Central Bank governing council member George Provopoulos said Monday that Greece's economy would remain in recession in 2013, with unemployment expected to continue rising this year.

Provopoulos made the remarks while presenting the central bank's annual report. He urged politicians not to use the ongoing recession "as an excuse" to avoid implementing austerity measures agreed with emergency creditors from the eurozone and International Monetary Fund.


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