Is Greece finally on the mend after economic crisis?

CNN) -- Greece is on the way to economic recovery as investor faith returns to the recession-ridden eurozone nation, an executive at Greece's largest bank has told CNN.

Petros Christodoulou, deputy chief executive of the National Bank of Greece, said that a drastic drop in government borrowing costs since the outbreak of the crisis in 2009 marks a "great improvement and a great perception of the country" by foreign investors.

 

Speaking to CNN's Max Foster in Athens, Christodoulou said: "Are we out of the woods with 8% yields in government debt? Not yet, but we are on the right path."

 

He added: "All this eventually proliferates into everything that happens in Greece, starting from the banking sector which is in the center of the economy and this is good news going forward."

 

 

 

Personally, I think this is only propaganda put out by the Greek Government and its Bankers to make people "think all is well" when it is not and on the edge of a major revolt in Greece.

"GREEK GOV'T ABOUT TO FALL" - Reuters Sept 27th 2013
Greece may face snap elections. Prime Minister Antonis Samaras may have to
choose going to a national ballot and fears this destabilizing after a statement from Army Special Forces telling the government to resign and be replaced, which would suspend deals Greece had under its bailouts. The tone suggested a direct intervention in the democratic process which the Greek government finds very troubling."



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