The Commission, OECD and EBRD predict another Greek recession

Any Greeks hoping their days of economic pain are over following the latest bailout agreement with international lenders should look to the dire projections from Europe’s three main institutional forecasters for a reality check.

The Commission, the OECD, and the EBRD all say Greece is heading into recession again this year and next, sinking back into the mire after last year’s positive reading ended a six-year depression.

The light at the end of the tunnel, all three say, may be some growth returning during next year, but it is highly dependent on economic and banking reform.