GREXIT LOOMS: Employers union predicts Greece to QUIT EU as Tsipras races to boost economy

Thursday, January 26, 2017
By Paul Martin

GREEK prime minister Alexis Tsipras is in a race against time to prove to the European Union (EU) that he can turn the country’s economy around amid growing calls to exit the bloc.

Thu, Jan 26, 2017

Syriza leader Mr Tsipras, 42, is facing pressure from the European Central Bank and senior figures in the European Union (EU) that he is capable of turning the country’s capital markets to profit while keeping his commitments on €86bn in loans.

Greek financial chiefs say there will be a 2.7 percent GDP growth for 2017 while the European Commission has put it currently at -0.3 percent.

Now two years after he pledged to end “austerity” and fight back against “humiliation and suffering” the Greek leader has failed to live up to his pledges.

Anger is mounting over Mr Tsipras performance as far ranging cuts continue to hit the economy hard.

And just this week the Federation of Greek Enterprises (SEV), Greece’s largest employers’ association raised the spectre of Grexit once more.

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