Macroeconomic round up: Greece back in the headlines for the right reasons
Jason Walls breaks down the week's biggest news in macroeconomics on NBR Radio, and on demand on MyNBR Radio.
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It’s been a rocky year for Greece but for the past few months the embattled nation has managed to mostly stay out of the headlines.
But this week has seen a flurry of Greek news – some of it good, too.
Greek prime minister Alexis Tsipras has suggested the capital controls put in place on the country earlier this year are to be removed.
He told the Hellenic-American Chamber of Commerce he thinks the controls may be removed in July next year.
The Greek economy is doing “better than expected,” he said.
The capital controls were put in place to stop a flight of capital from leaving the country.
Mr Tsipras’ former finance minister was also making headlines this week. Yanis Varoufakis warned Australia it is on the road to recession.
During his time as Greece’s finance minister, Mr Varoufakis copped a lot of criticism for his financial management and policies.
But this did not stop him from giving his two cents on the state of Australian’s economy, suggesting that, if he were an Australian politician, a recession is something he would be worried about.
Mr Varoufakis told reporters some recessions are like bush fires, whereby they clear the forest out and help new life to flourish.
Today, all eyes will be on the US as the world waits for its non-farm payroll figures to be realised. A big gain would make a US interest rate hike later this month more likely.
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Fri, 04 Dec 2015
Fri, 04 Dec 2015
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Macroeconomic round up: Greece back in the headlines for the right reasons
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