Greece’s holiday housing potential remains untapped
July 2nd, 2007 by Dino
Economists and other experts have long argued that sustaining Greece’s strong economic growth rates into the future and tackling the country’s social security problem may be the biggest challenges facing policy makers. This task could be made much easier by turning Greece into the “Florida of Europe.”
Greece can count on some –20 billion in European Union structural funds up to 2013, in addition to more than –24 billion during the 2000-2008 period to keep its economy on the path of 3.8 to 4.2 percent in annual growth rates. But this may not be enough if the cost of money for consumers and business gets more expensive as the European Central Bank keeps raising its intervention interest rate, currently at 4.0 percent, and some major EU economies experience a slowdown.
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- Posted in Europe real estate purchase, Greece, holiday properties