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Athens Macedonian News Agency: News in English, 14-11-04

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] Economic recovery with austerity impossible, SYRIZA's Milios says

  • [01] Economic recovery with austerity impossible, SYRIZA's Milios says

    ANA-MPA -- Economic recovery will be impossible for as long as public spending is cut and austerity policies continue, main opposition Radical Left Coalition (SYRIZA) Economic Policy sector head Yiannis Milios on Tuesday said.

    In an interview with ANA-MPA, he said that economic growth will be at 0.2 or 0.5 pct and not at 2.9 pct as predicted, noting "this is not a recovery of society; it is the recovery of a small group of entrepreneurs that does not lead things to a social cohesion model based on the European acquis earned by workers in previous years".

    He said that the government now plans certain so-called reforms that will tear up more rights and negotiating means used by workers.

    "When austerity policies continue, the recovery of private consumption concerns only the high income earners or the very rich, who are not so many as to be able to contribute to a significant increase in demand," Milios said.

    He said that the EU report has a political overtone because, in essence, it says "beware, because if the government changes the business class will engage in investment abstention until the government gets the message." He also pointed out that, once again, the predictions made are overly optimistic and like in 2011, 2012 and 2013, when economic recovery had been predicted, there were now predictions that economic growth will increase to 3 pct in 2015.

    Athens News Agency: News in English Directory - Previous Article - Next Article
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