Monday 20 February 2017

Greece back in recession as €10bn shutdown of banks saps growth

Paul Tugwell

Published 04/08/2015 | 02:30

People line up outside a National Bank branch in Athens
People line up outside a National Bank branch in Athens

The Greek economy is plunging into deepening recession, as the impact of five weeks of capital economy sap consumer demand and business activity.

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Alexis Tsipras has faced off against the International Monetary Fund, fellow euro-area leaders and even his own lawmakers in his battle to avert a financial crisis.

The economy is proving just as big a hurdle.

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