Greek prime minister Alexis Tsipras has good reason to smile. He's receiving high praise from Angel Gurria, the OECD general secretary, for his country's impressive progress and reforms.
Italy's populist government has confirmed that the economy is effectively stagnating. It also raised its projected budget deficit as it seeks to maintain early retirement and basic income programs.
The leading German economic research institutes have slashed their growth forecast for 2019. They warned of several risks to the economy, including a "hard" Brexit.
Global economic growth has peaked, the Organization for Economic Cooperation and Development has said in its latest economic outlook. And more clouds are appearing on the horizon in the form of trade disputes.
Debt relief measures for Greece, agreed by the EU in June, have been estimated to cost €34 billion, a German daily reports. The package gave Athens a 15-year deferral in loan repayments and interest.
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