I think so. For the first time, there is sign of growth in Greece, with unemployment falling, the Greek Bonds at just over 10 percent (compared to the unsustainable and unbankable 40 percent not so long ago, before Greece received the massive bailouts and the haircuts).
There is huge potential for the Greek economy to bounce back and be on track to sustainable growth. Of course, the most blatant pointer would be some of their legislation, which is keeping shopping areas like ghost towns. Red tape with establishing shops should be cut down, so that people do not need to make so many applications to the council and muncipal authorities just to open a shop. There should be just one certificate, saying the council agrees that a shop of a specific type can be opened in a certain patch of town. That is all, and once that happens, it will create self-employment for people as shop-keepers, for people as shop assistants and so on. And the economy will start to pick up, with goods being despatched from warehouses, delivery vans delivering the goods, people walking around in the shopping centres, and so on. Someone, that will breathe life into the economy. And when people see busy places, they feel safe, it feels good, it gives people confidence to spend. Tourists would go to such places, and everything will improve. Think of retsina and ouzo people will be drinking with the delicious Greek cuisine.
A similar pattern will develop with Spain, and I guess the property markets there will pick up. After the 39.5 Billion Euro injection they received recently, I understand Blackrock the American investment group have started to take up investments in Spain. That is a good indication of improvements to come.
Poland and the Zloty were doing very well, but on a very conservative mind-set and interpretation of the headwinds, the Polish economy seems a bit neutral at the moment, but given renewed confidence in the other markets, could very well pick up. I believe they will, as the positive signs from U.S. and China feed confidence worldwide. At least, I pray so.