5th May 2015
The European Commission (EC) just published its spring forecasts that upgraded its expectation for GDP growth in Europe. However, projected growth rates for Greece were slashed.
For this year, the EC expects GDP to expand by 1.5 per cent, a little higher than the former expectation of 1.3 per cent.
The EC’s report, European Economic Forecast, stated that there are “clear indications” that an “upswing is underway”.
However, the EC made a significant downgrade to its growth rate forecasts for Greece in 2015. Expectations were cut to 0.5 per cent from 2.5 per cent.
This will heighten concerns over Greece’s financial health, especially considering the International Monetary Fund warned that the nation’s debt level may be unsustainable once more.
Investors will remain focused on the ongoing negotiations between Greece and its European creditors. Most believe a settlement will be reached, but uncertainty mounts while discussions continue to be stretched out.
It remains to be seen whether a breakthrough can be reached before the next Eurogroup meeting on May 11th.
Begin trading today! Create an account by completing our form
At One Financial Markets we are committed to safeguarding your privacy.
Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.