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Greece's economy could shrink by another 4% this year
Greece avoided a catastrophic exit from the euro with this week's bailout deal, but there's still plenty more pain to come. Shattered business confidence, a three-week bank shutdown and capital controls have already guaranteed another year of recession in 2015. That means the economy will have contracted for seven of the last eight years. The European Commission says Greek GDP may shrink by as much as 4% this year, especially since banks have been limiting cash withdrawals during the country's vital tourist season. Some private forecasters are predicting an even bigger fall. And the economy may not see growth again ... (full story)
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