First current account surplus for 65 years

[Maik]

Greece achieved a current account surplus in 2013, for the first time since official data began in 1948, central bank balance of payments figures showed on Wednesday.

http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_19/02/2014_537508

Record spending by foreigners as Greece's tourism industry slashed prices helped the country's current account post its first surplus last year since official data began in 1948, central bank figures showed on Wednesday.

Tourism receipts, the country's biggest foreign-currency earner, rose 15 percent to a record 12 billion euros, while imports shrank.

Economists expect Greece to repeat a surplus this year but say this does not mean that it has turned the corner yet towards becoming an export-driven, competitive economy.

"For 2014 we expect the current account to stay in surplus as imports will remain weak alongside improving tourism and exports,» said Eurobank economist Platon Monokroussos... "Wage growth must stay in line with productivity gains."

http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_19/02/2014_537509


"Wage growth must stay in line with productivity gains." So employees in the tourism industry can look forward to 15% pay rises?