Add to favorite
 
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

The World Bank Recommends Russia to Learn From Greece
22.01.2015 09:21
The World Bank Recommends Russia to Learn From Greece
(Source: http://www.ellada-russia.ru)

The World Bank has recommended Russia to learn from Greece.

      The World Bank recommended Russia to find the way out of the crisis by the Greek scenario, as TASS reported. According to the World Bank’s Chief Economist for Russia Birgit Hanzl, Greece decided to significantly reduce wages in the public sector, even despite mass social protests.

      According to her, the key task of the Russian government now is to ensure macroeconomic stability, including stability of the financial sector. “It is necessary to return the confidence both to businesses and households that they can continue to invest, to buy things in a normal mode, in spite of the uncertainty level existing in the economy at the moment and likely to persist in 2015” - she stated. Hanzl added that it would require making a difficult strategic choice going beyond the macroeconomic decisions. This choice involves “open labor market” for business.

      Greece has experienced six years of economic depression in 2008-2014 years with a total GDP’s fall by almost 30 percent. This was caused by an enormous public debt still exceeding 150 percent of the country’s economy. Despite the fact that Greece started to show some signs of economic growth by the end of last year, its economic recovery is very slow. The opposition accusing the authorities of unjustified application of too tough austerity measures, offers to write a portion of the Greek debt off or to quit the Eurozone.


Sources: http://lenta.ru 


Author: Anna Dorozhkina

Tags: World Bank     

Next Previous


You might also find interesting:








Comment on our site


RSS   twitter      submit



TAGS:
Musicals in Moscow  Space Exploration Day  Alexander Benois  OccupyAbai  Sberbank-CIB  Moscow  Maria Sharapova  Hashtagization  Russian tourism  Russian cuisine  Torrents  Yaroslavl   Russian Cinema  activity holidays  Russian singers  Russian Monuments  Russian economy  Mercedes-Benz Fashion Week Russia  Customs Union   State Prize   St. Petersburg  Konstantin Stanislavski  Photography  Soviet Artists  Russian science  children  flights to Russia  Russian churches  Adler  Chukotka  Black Sea  Russian business  Kirov  Missing Persons  Novocherkassk  Eliseevsky Shop  Vasily Livanov  Exhibitions in Moscow  Russian Theater  Open Data Portal  Russian scientists  Legal Services in Russia  privatization  Russia Travel Tips  Konstantin Lopushansky  Multimedia  Gazprom  Republic of Tatarstan  Anna Akhmatova  Reindeer 


Travel Blogs
Top Traveling Sites