In its latest quarterly report, the Center of Planning and Economic Research (KEPE), a highly respected, state-funded institute, indicates that Greece is highly likely to see a seventh consecutive year of recession in 2014. The Greek economy will barely grow at 0.004 per cent next year, after a 3.55 per cent recession projected for 2013.   

According to KEPE, unemployment will reach 29.3 per cent in 2014, up from 27.6 per cent, where it currently stands. Inflation remains negative, at minus 0.28 per cent this year and minus 0.31 per cent for next year. Greece’s current account balance from 0.91 per cent of GDP in 2013, will in 2014 reach 3.42 per cent.