The business confidence index fell significantly in Greece, an International Business Report (IBR) by Grant Thornton for 2011 showed on Wednesday.
The report showed that the business confidence index (the ratio between optimistic/pessimistic enterprises) in Greece has fallen by 21 points this year compared with 2010, to -23 from -44 points.
A similar situation prevails in Ireland, where the business confidence index has fallen from -42 to -45, while in Spain, the index rose to -56 from -50 last year, although this recovery did not change a negative economic climate prevailing in the country. The index rose in Germany, Finland, Belgium and the Netherlands.
Ed Nusbaum, CEO in Grant Thornton International, said high public debt levels burdened countries such as Ireland, Greece and Spain and noted that it seemed that Europe would spend several years of tense and volatility, with the current year could becoming a turning point for the euro currency.
ANA
