Unemployment in Greece has hit a new record high. More and more people say the current method for getting out of the crisis is not working, and the country has slipped back to the 1950s.
Fewer and fewer jobs are available for the nearly 1.4 million people who have lost their work in the last six years or have joined the dole queues.
While the overall figure is bad enough the youth unemployment figure is even worse, with more than half of the 15-24 age group currently able to earn a living. Both unemployment rates are worse than this time last year.
However the government is now running a budget surplus, and is on target to keep its international creditors happy, and thus earn more debt relief.
“The government’s success story according to Prime Minister Samaras, is the people’s story of failure. It was built on layoffs, the shutdown of companies and institutes, and the shrinking of public investment,” said one young male jobseeker.
The IMF forecast this week supported Athens’ prediction of a return to economic growth next year, which provided hope that Greece could finally be emerging from years of debt-driven economic turmoil. This cannot come too soon for families below the poverty line, who will be expecting more jobs created as the economy turns. A purely fiscal recovery will not be enough for them.
- 1Greek reforms fail to convince investors as deadline day creeps closer
- 2Greece sends revised reforms list to creditors for approval
- 3Greeks flock to take advantage of forgiveness for tax fines
- 4Eurozone economy breaths a sigh of relief
- 5Markets fear Saudi-led military action in Yemen will choke oil delivery to Europe and US
- 1Global gold price setting arrives in the 21st century
- 2Russian foreign currency mortgage holders cry foul over soaring rates
- 3Greece sends revised reforms list to creditors for approval
- 4Winners and losers of the “Mini Euro”, Facebook moves into news
- 5Greeks flock to take advantage of forgiveness for tax fines
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2Russian rumour mill suggests Putin suffering poor health | euronews, world news
- 3Slovenia becomes 11th EU nation to approve gay marriage | euronews, world news
- 4[LIVE] Germanwings passenger jet crashes in southern France, 148 people on board – authorities | euronews, world news
- 5Exclusive: CIA and Mossad are behind Boko Haram and ISIL, says Sudan president | euronews, world news
- 6Indian rapist says women to blame for being sexually assaulted | euronews, world news
- 7International news | euronews, latest international news
- 8French Alps plane crash treated as suicide and mass murder by co-pilot | euronews, world news
- 9Why is Bulgaria the EU’s most unhappy country? | euronews, world news
- 10eurovibes - a selection of Europe’s best music talent
- 11Greece’s claim for war reparations from Germany explained | euronews, world news
- 12Reaching new heights: Parents in India scale walls to ‘help students cheat’ | euronews, world news
- 13Tens of thousands march in Moscow in memory of Boris Nemtsov | euronews, world news
- 14Handwriting and the digital age, time for change in schools? | euronews, learning world
- 15London calling: why home-loving Hungarians are flocking to British capital | euronews, reporter
- 16International breaking news | euronews online world breaking news in video
- 17French prosecutor: Germanwings co-pilot appears to have crashed plane deliberately | euronews, world news
- 18Manufacturing jihad – Nicolas Hénin explains what he learned about ISIL | euronews, the global conversation
- 19Germanwings press conference mystery: what wasn’t he supposed to say? | euronews, world news
- 20Which EU country has the biggest gender pay gap? | euronews, world news
Wires > Business
- 23:44 CET China needs more currency reform to meet IMF standard – …
- 22:14 CET Asia Resource Minerals targets end June to complete…
- 21:47 CET U.S. approval moves Shell a step closer to Arctic drilling
- 21:42 CET Berkshire’s Buffett says Grexit ‘may not be bad’ for euro zone…
- 18:57 CET HP and Autonomy co-founder Lynch sue each other in London
- 18:21 CET Commerzbank to close accounts of 400 Luxembourg clients – report
- 17:52 CET Greece fails to reach initial deal on reforms with lenders
- 17:30 CET Pirelli shares above ChemChina bid price after dividend…