Greece s economy is mired in deep recession. GDP is forecast to contract for a sixth year in a row in 2013. The economy has shrunk 32% since the peak in Q3 2007. Many years of anaemic growth is forecast as macroeconomic imbalances built up prior to the 2008/09 crisis will take time to be corrected. Wood Mackenzie expects that the economy will not fully recover to 2007 levels until the middle of the next decade.