Wall Street Journal: Greece On A Return To Growth

“The latest stage in Greece’s economic rollercoaster ride shows numerous reasons to cheer,” the Wall Street Journal (WSJ) Europe says in a special edition published recently on Greece.

Entitled “Crossing a New Economy Threshold,” the international newspaper sets the tone for a new era that is rising in the Greek economy.

According to the Wall Street Journal, with fiscal consolidation and rising tourist numbers “comes a return to growth” for Greece.

“There has been a primary surplus for the second consecutive year, reaching €1.95 billion by August, more than twice the stated target. The summer’s massive influx of tourists chalked up another all-time high, with 19 million visitors beating the record 17million in 2013. The countrymade a successful return to the international bondmarkets, with yields at just 4.75% (a dramatic contrast with the 12%-plus yields offered at the height of the crisis).”

However, the newspaper notes that “while there is widespread satisfaction over the direction of the Greek economy’s travel, with the IMF commending the actions taken by the country’s leaders and the many positive signs, it is premature to say Greece has left behind this era.”

The WSJ underlines that there remain some mountainous challenges to overcome, many of them political as much as financial or economic.

According to an announcement, the WSJ cooperated with its collaborator for the Greek market Global Media communications company on the publication of the 4-page feature on Greece.

“This Global Media initiative is a step forward in the effort that is being made to change the image of the Greek economy abroad, which has been damaged by the years of the troika’s supervision,” the communications company said.