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Provopoulos to issue fresh warning

Bank of Greece Governor Giorgos Provopoulos is due on Tuesday to highlight the need for the application of a comprehensive plan for growth and for no further delay in the application of the program Athens has agreed with its creditors in his annual report on the Greek economy.

He is also set to estimate a further decline in salaries by 10 percent this year in the context of the application of new measures to boost competitiveness.

Notably, his estimate for the recession this year is going to be even worse that 4.5 percent for this year as announced by the Bank of Greece a month earlier, as it will range between 4.5 and 5 percent.

The rebound is not going to come before end-2013, Provopoulos will suggest.

ekathimerini.com , Monday April 23, 2012 (23:21)  
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