Tuesday 27 June 2017

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

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

Paul Tugwell

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

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.

Please sign in or register with Independent.ie for free access to Opinions.

Sign In

Don't Miss