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:
- 1Podemos: Spanish indignation in Brussels’ corridors of power | euronews, reporter
- 2Israel announces it will seize 400 acres in West Bank | euronews, world news
- 3Watch: Angry mob throw Ukraine MP into rubbish bin | euronews, world news
- 4Japan sounds bluefin warning, calls for 50% catch cut | euronews, world news
- 5Hoverbike on the horizon | euronews, hi-tech
- 6China executes eight Muslims convicted of terrorism | euronews, world news
- 7New car offers freedom for disabled drivers | euronews, hi-tech
- 83D printing: a driving force in design and engineering | euronews, hi-tech
- 9Rise of the machines | euronews, futuris
- 10Ukraine accuses Russian aid convoy of stealing factory equipment | euronews, world news
- 11Iraq: Baghdad rally held against US ‘occupiers’ | euronews, world news
- 12Young Yazidi girl escapes Islamic State kidnappers | euronews, world news
- 13#ن: How an Arabic letter was reclaimed to support Iraq’s persecuted Christians | euronews, world news
- 14EU leaders name Donald Tusk European Council president | euronews, world news
- 15The business benefits of EU chemical regulation | euronews, business planet
- 16#Indyref Live: Scotland votes on independence from UK | euronews, world news
- 17Canada sends hilarious barb to Russia over Ukraine ‘incursions’ | euronews, world news
- 18Official ‘executed by flame-thrower’ over links to Kim Jong-un’s purged uncle | euronews, world news
- 19Thousands of Catalans call for choice on split from Spain | euronews, world news
- 20Iceland puts on a show as two of its volcanoes spew out lava | euronews, world news
Wires > Business
- 09:26 CET G20 says nearing growth goal, but more needed from Europe
- 07:22 CET China says will not alter policy because of one economic indicator
- 19:58 CET ESM’s chief says EU, IMF in no mood for a Greek debt haircut
- 15:15 CET EU mulls tapping unused rescue funds to boost investment – paper
- 14:50 CET Air France pilots extend strike until Sept. 26
- 12:50 CET Air France pilots vote to extend strike until Sept. 26
- 12:37 CET As G20 chases growth goal, members differ on how to get there
- 08:22 CET Exclusive – Hyundai directors kept in dark on size of $10 billion…