Greece's IOBE think-tank reversed a forecast for modest growth this year and instead sees the economy sliding back into recession, with capital controls introduced last month taking a heavy toll on consumption, investment and exports. In its quarterly report released on Thursday, IOBE projected the economy will contract by 2.0 to 2.5 percent this year, down from a previous forecast in April of 1.0 percent growth. It said a three-week banking holiday and capital controls imposed to ward off a collapse of the Greek banking system at the end of June would hit household consumption, investments, exports and tourism.
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