Another cautionary note is that the strength in consumer spending throughout 2006 received a considerable boost from the earlier rise in household wealth.
Yannis Stournaras: Reforming and rebalancing the economy in Greece Introduction by Mr Yannis Stournaras, Governor of the Bank of Greece, to the presentation of the European Bank for Reconstruction and Development (EBRD) Transition Report 2016-2017, Athens, 25 January 2017.