Latest macro & market developments - February 20, 2011
Greece Focus Notes
20 February 2011
• Economy contacted more than expected in Q4:2010 • Higher-frequency indictors still not signaling an imminent turnaround in domestic economic activity• Current account deficit down sharply in December; pace of external-sector adjustment to accelerate this year • Reporting of general government accounts improves, but problems remain as regards to the coverage of outstanding arrears