Greece’s jobless rate continues to rise under the austerity linked to its international bailout.
The unemployment rate hit a new record high of 27.6 percent of the workforce in May. April’s number was revised upwards to 27 percent.
The country is in its the sixth year of recession and job seekers are pessimistic.
In Athens, a 60-year-old unemployed woman said: “Greece is not on the road to recovery. We’ve returned to the 1950s. I was a child then and I know what happened, we are starting from scratch.”
While a man spoke of his despair: “The business I worked for has closed. I am 66-years-old, unemployed and won’t get a pension. I go through rubbish bins looking for something to eat.”
The young are also hard-hit. Nearly two thirds of 15 to 24 year olds are out of work.
Ordinary Greeks are suffering the austerity imposed by international lenders to slash government debt levels, but only austerity means a downward economic spiral.
Greece may be in the worst state but analyst Patrick Armstrong says the whole region is not growing as it should: “Europe’s still not really addressed the core issues that led to the European crisis so I don’t think we’re going to have sustainable growth in Europe. You really need the ECB to do unconventional policies like every other central bank’s been doing , and I think a weak euro will facilitate some growth but we’re not there yet.”
Improving exports and a strong tourism season – with an expected record 17 million visitors – should help to contain the further rise in joblessness expected this year.
But the Greek central bank has projected that unemployment will peak at twenty eight percent, before it starts to decline in 2015.
As the latest jobless figures were released Greece’s Ministry of Labour said it has launched a crackdown on people working without paying taxes.
Officials are suspicious because in some popular tourist areas the number of people being hired has fallen, even at the height of the holiday season.
They include the islands of Thasos, Zakynthos and Kalymnos and the area around Chalkidiki.
The authorities also said that Greek shop owners who have resisted on-site tax checks and found not to be issuing receipts are receiving penalties including being closed for one-month.
The General Secretariat of Revenues has ordered the shuttering of 12 premises for such non-compliance and said 14 more faced similar action in the near future.
With millions of visitors crowding the country’s beaches in the holiday month of August, tax inspectors have focused on popular resorts where tax evasion is traditionally rampant.
- 1New 20 euro notes come into play on Wednesday
- 2Stocks fall as investors seek safety after Turkey downs Russian jet
- 3German business morale rises despite global uncertainty
- 4Spain’s solar energy firm Abengoa begins insolvency proceedings
- 5US economy grows faster than first estimated in third quarter
- 1Coordinated terror attacks leave dozens dead in Paris
- 2euronews live TV - News | euronews : the latest international news as video on demand
- 3Bomb and several shootings in central Paris – reports of fatalities and injuries
- 4International news | euronews, latest international news
- 51000-year-old Bible found in Turkey
- 6latest sci-tech news : euronews : the latest international news as video on demand
- 7European Union News | euronews: latest breaking news and headlines about European Union
- 8world Weather | euronews: world ten day weather forecast
- 9Police hunting Paris attacks mastermind battle with suspects in heart of Paris
- 10New temporary spiritual leader of Muslim Brotherhood appointed
- 11Middle East - News | euronews : the latest international news as video on demand
- 12International breaking news | euronews online world breaking news in video
- 13Hope vs harsh reality: challenges to global education goals in the 21st century
- 14Egypt armed forces chief Abdul Fattah al-Sisi – a man of destiny
- 15Latest sport news
- 16Iraq: deadly car bombs kill more than 60 in Baghdad
- 17Humans consume more than planet can produce on ‘Earth Overshoot Day’
- 18‘Anonymous’ hackers’ group declares ‘war’ on ISIL
- 19No Comment | euronews: international news images without commentary
- 20‘Maxed-out:’ Jordan’s King Abdullah II’s frank warning over Syria crisis
latest economy news
Russia-Turkey trade in question as Moscow to ‘reconsider’ ties with Ankara
OPEC ‘set to keep pumping oil’ despite global glut
Thomas Cook reports first profit in five years despite security fears
Spain’s solar energy firm Abengoa begins insolvency proceedings
Stocks fall as investors seek safety after Turkey downs Russian jet
Wires > Business
- 16:38 CET Britain to sell more RBS shares, Northern Rock loans
- 16:35 CET EU lawmakers step up pressure to tackle tax dodging
- 16:30 CET European banks regulator corrects capital adequacy numbers
- 16:25 CET U.S. consumer spending slowing, but business investment poised to…
- 16:23 CET France would not accept changes to Renault/Nissan structure -…
- 16:02 CET Osborne raises budget target, scraps cuts to tax credits
- 15:54 CET South Africa’s competition watchdog approves Diageo, Brandhouse…
- 15:48 CET Strong interest in making London gold market more transparent -…