Greek economy in decline
Greece's unemployment rate jumped to 9.3% in the first quarter, up from 7.9% at the end of last year's fourth quarter. Data also showed the number of employed fell to 4.49 million, down from 4.55 million. Even worse is the youth unemployment rate where joblessness is the highest, up to 18.5%.
Another major woe for Greece is their slumping economy. The economy slowed drastically in the first three months of the year, with gross domestic product expanding at a poor 0.3% rate year to year. The poor figures are leading to speculation that Greece will slip into recession for the first time since the early 1990s.
Greece's euro exchange rate is currently at USD 1.383 and GBP 0.841.
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The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.