The cash flow problems are still a huge headache for businessmen operating in the Municipality of Athens who appear slightly more optimistic compared to 2012 and 2013 says a study conducted by the ICAP Group.

Data of the study presented on Wednesday afternoon shows that damage reported by businessmen in 2014 has been slashed to 500 million euros compared to 1 billion euros last year.

ICAP Group CEO Nikitas Konstantellos said that the negative economic climate has affected business in Athens. An ICAP group feasibility study showed a 2.3% decrease of turnover (9.4 billion euros) and a 5.6% concentration of companies to formulate 70% of total turnover. He said that the modest return of consumer confidence and economic sentiment show a modest recovery that is an encouraging indication.