Yesterday, Bank of Greece Hovernor George Provopoulos tabled in parliament the Interim Report for Monetary Policy according to which Greece's GDP will grow by 0.5% in 2014, while unemployment will fall by one percentage point. "It is now reasonable to forecast that 2014 will see the end of the recession and the start of recovery," says Provopoulos.

However, Provopoulos warned of risks and uncertainties due to the polarized political climate, stressing the importance of a stable economic policy focused on structural changes.

He also said that fiscal adjustment cannot rely on tax increases anymore and that tax payers should be relieved, and recommended speeding up efforts for restructuring the public sector through shutdowns or mergers of public organizations and businesses.