Greece ‘to come out of recession in 2014′

<p>Greece could emerge from its recession next year.</p>

The Greek government has stated that it expects the country's economy to come out of recession next year.

Vice finance minister Christos Staikouras explained the government believes the recession in Greece will come to an end in 2014.

Diego Iscaro, principal economist at IHS Global Insight, suggested that claims the Greek economy could expand next year are too optimistic.

"If it performs less well than expected it will have a knock-on effect on taxes and spending and Greece will have to renegotiate its fiscal target," he was quoted as saying by BBC News.

Mr Iscaro stated that he expects the Greek economy to contract between 0.8 per cent and one per cent next year.

Greece was hit by the global recession harder than most countries and since 2008, its economy has shrunk by 23 per cent in total.

The country has been given an austerity plan as part of its bailout, which has led to widespread anger across the nation at other European locations such as Germany.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.