Greek economy shrinks 6.2 per cent in Q2

Last Updated: Mon, Aug 13, 2012 19:26 hrs

Greece’s economy shrank 6.2 per cent on an annual basis in Q2, a slump that is expected to persist as the government scrambles to nail down billions in additional cuts to keep international bailout funds flowing. Greece’s jobless rate has already climbed to 23.1 per cent, with nearly 55 per cent of those aged 15-24 out of work, a desperate situation that fed into the popularity of anti-bailout parties in elections earlier this year.

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