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.
Copyright © 2014 euronewsMore about:
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2Sweden becomes first EU country to recognise the Palestinian State | euronews, world news
- 3Italy swamped by flash floods | euronews, world news
- 4Back to School for Romania’s new First Lady | euronews, world news
- 5What will you ask US Senator John McCain? | euronews, world news
- 6Turkish president Erdogan unveils his new palace of a thousand rooms | euronews, world news
- 7India PM Modi appoints Yoga minister | euronews, world news
- 8Vladimir Putin most powerful man in the world – Forbes | euronews, world news
- 9[Live] Rosetta’s Philae lands on comet 67P and enters the history books | euronews, world news
- 10European e-revolution people rise up | euronews, world news
- 11International tv news | euronews: European and International tv news bulletin
- 12Where is the best place in Europe for women? | euronews, world news
- 13Putin plans to leave G20 talks early amid Ukraine pressure | euronews, world news
- 14Transcript of hanged Iranian woman’s final message released | euronews, world news
- 15Nadia Comaneci: gymnast of perfection and defector | euronews, the global conversation
- 16US says ISIL makes $1 million-a-day selling oil – even to enemies | euronews, world news
- 17Edgars Rinkevics: “I am gay. Good luck all of you.” | euronews, world news
- 18Philippe Starck: ‘Words like longevity and legacy have become almost avant-garde’ | euronews, the global conversation
- 19Revealed: Europe’s capital cities where it’s hardest to be a foreigner | euronews, world news
- 20Syria: Islamic extremists pledge to press ahead with battle for Kobani | euronews, world news
Wires > Business
- 20:17 CET Aviva says will compensate customers sold wrong annuities
- 18:53 CET Aviva sold inappropriate pensions – Telegraph newspaper
- 18:43 CET Albanian opposition rallies against tax, power burden
- 16:07 CET SGL says in talks with many carmakers to supply carbon fibre parts
- 15:55 CET Swiss agency has more queries over Etihad plan to buy Darwin stake
- 15:30 CET Europe not at risk of full-blown deflation – ECB’s Constancio
- 15:04 CET Volkswagen on track to reach 2018 margin goal – Wirtschaftswoche
- 14:46 CET Thyssen CEO says sale of submarine unit possible – Sueddeutsche