Gov't receives triple warning
The Hellenic Fiscal Council and the Hellenic Federation of Enterprises (SEV) warned the government on Wednesday about the threat of stagnation in the economy without the implementation of reforms, along with the threat of fiscal problems in the future from state-guaranteed loans.
An HFC report published on Wednesday brought its growth projection down to 1.8 percent for this year, matching that of the government, and warned of the risks to the economy: "There is a danger of a year of stagnation, threatening the economy with a protracted imbalance with its main features being high unemployment and minimal, if any expansion."
It went on to warn that a great number of corporations' and taxpayers' loans that are guaranteed by the state may well not be repaid, thereby turning nonperforming. These bad loans are estimated to add up to 3.7 billion euros out of a total 12 billion...