The research institute affiliated with Greece’s largest trade umbrella union, GSEE, on Tuesday referred to «high risks» entailed in any «quick» economic recovery and a return to international lending markets in 2017.
The institute’s (INE-GSEE) interim report on the Greek economy and employment sector emphasized that the creation of new jobs and an expansion of the «real economy» necessitates «developmental planning and wider initiatives, beyond the uncertain results that the QE program will have in normalizing credit conditions and the financing of the economy.
Additionally, the research institute touched on the increasingly acute problem of non-performing loans (NPLs) in the country, referring to an exceedingly complex issue worsened due to the «recessionary stagnation» plaguing the country’s economy.
The latter, according to the report, extends concerns over the solvency of Greece’s systemic banks.
