German-language media highlight downward Greek GDP revision

Monday, 06 March 2017 23:21
UPD:23:48
EUROKINISSI/ΜΠΟΛΑΡΗ ΤΑΤΙΑΝΑ

Greece's independent statistical service, EL.STAT, said new processed data showed a decrease of GDP in Q4 of 1.1 percent, compared to the same trimester of 2015; and a decrease of 1.2 percent compared to the previous quarter (Q3) of 2016.

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German-language media on Monday pounced on the same-day announcement by Greece's statistical service overturning a much-publicized forecast of Greek economic growth in the fourth quarter of 2016 - and instead revising figures to show a continuing recession.

Greece's independent statistical service, EL.STAT, said new processed data showed a decrease of GDP in Q4 of 1.1 percent, compared to the same trimester of 2015; and a decrease of 1.2 percent compared to the previous quarter (Q3) of 2016.

Sensationalist Focus magazine featured a post on its webpage with the headline "Tsipras celebrating new figures -- in reality his country is sliding deeper in crisis", complete with a video clip of Greek Prime Minister Alexis Tsipras addressing his Cabinet on Monday -- an address carried live by the state broadcaster.

"The country has already returned to positive growth rates" was the Tsipras sound bite posted by Focus, a statement that was almost simultaneously made with the EL.STAT announcement.

Bild's Internet post was headlined "New shock for Greeks -- economy shrinking", whereas Switzerland's Neue Zürcher Zeitung noted that "forecasts for the (Greek) economy revised downwards".

Finally, Austrian daily Die Presse echoed that headline: "Shrinking instead of growth: Greek GDP revised downward".

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