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Weekly Export Risk Outlook, April 1
The roadblock in Greece takes longer to clear while the economic growth in Turkey was better than expected, Euler Hermes noted in this week's Export Risk Outlook report.
Greece's negotiations with European officials weren't progressing due to perceptions that the government's proposed reform list is not concrete enough and does not address issues like labor laws and pension system, Euler Hermes analysts wrote in this week's report.
Another bailout extension is, though, increasingly likely, allowing more time for talks on a new financing program.
Meanwhile, Greece's eastern neughbour just announced a softer GDP growth for 2014, at 2.9% (versus 4.1% in 2013), but still slightly above Euler Hermes expectations. But the economy is expected to bounce back in 2015, as lower oil prices and monetary easing is likely to strengthen domestic demand.
See other information about the European and global economies, in the full report.