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Greece: Some results
  • Gross disposable incomes fell 29.5 percent between the second quarters of 2008 and 2013, statistics service ELSTAT said on Tuesday. Adding in cumulative consumer price inflation over the same period takes the decline close to 40 percent.

    Total workers' compensation has fallen 34 percent since the second quarter of 2009, the ELSTAT data showed. Over the same period, the government slashed social benefits by 26 percent

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  • There are numerous books and articles from Greg Palast that discuss this situation and its root causes. It's very revealing how some very wealthy characters have profited huge amounts of money from this disaster. There's even good evidence to suggest all of this was a setup to reap huge financial rewards for a select few. Palast is not prone to wild accusations and is one of the old-style investigative reporters who digs deep for his information. Deep enough that he gets death threats and other threats all the time. If what is happening in Greece spreads further across western and other developed nations we could see a real breakdown in society as people become pushed to the brink of survival while the billionaires pile up more billions. Scary stuff...

  • @aae991

    It is not fault of billionaires :-)

  • Read Palast's stuff - you might reconsider. Are billionaires 100% responsible, no. But they sure took advantage of the situation and made it worse.

  • @aae991

    I don't need to read it to know that it is false. Btw, it is nothing wrong for someone to take advantage of situation. It is same thing as blame predator that he kills.

  • So if what I'm reading is false, what is the cause of it in your opinion? In addition, how do you know it to be false when compared to a person who spends all of his time investigating what is going on in situations like this. I also disagree about there being nothing wrong about taking advantage of the situation. What the hedge fund predators did is make the situation much worse.

  • So if what I'm reading is false, what is the cause of it in your opinion

    Just go back in blog and read.

    I know that it is false because billionaires did the same thing for long time, but nothing like this happened.

  • Try reading this...

    You might want to rethink your ideas about Greece...

  • You might want to rethink your ideas about Greece...

    It has nothing to do with Greece. This is the biggest issue, as such writings for so deep in specific things and specific people so they forget any reality around.

  • Conditions for children have deteriorated in Greece in recent years, as a result of a reduction in welfare benefits, rising parental unemployment, poverty and insufficient access to healthcare, according to UNICEF's report "State of Children in Greece 2014 - The repercussions of the economic crisis on children," released on Thursday.

    More than a third of the child population, specifically 686,000 children or 35.4 pct of the total, were considered at risk of poverty or social exclusion in 2012. The percentage had risen from 30.4 pct in 2011, with children of one-parent families (74.7 pct) and three-child-plus families (43.7 pct) the most at risk. Children living in households with no working adults rose to 292,000 or 13.2 pct of the total in 2012, having increased by 204,000 compared with 2008.

  • Yeah, when I was in Athens a few months back we wandered into one of the "poor" neighborhoods (which didn't look that bad). There was an empty lot converted into a park with some kids playing by themselves. My Greek friend commented, "those are gypsies, Greeks never let their kids play alone in the streets anymore, they're too paranoid". After another week being on the streets, it seemed true. There's part of your 'social exclusion'. The real 'glue' of society is at risk. There was a rally or protest of some sort every single day, some quite aggressive contributing to a general feeling of deep uncertainty about the future. The problems are not only related to the current "crisis" however, many stemming from a complex history from modernism, to fascism to neoliberal exploitation. The food remains excellent however, so there's hope yet ;)

  • The problems are not only related to the current "crisis" however, many stemming from a complex history from modernism, to fascism to neoliberal exploitation. The food remains excellent however, so there's hope yet ;)

    If you look at the data Greece have two main problems - not enough energy and bunch of parasites from government and banks.

  • @MirrorMan

    Concerning kids and the new isolating habits-parents fear, internet/computer addiction, etc- I think it's a quite common problem in most big cities. The rest of your observations are in line with what I'm experiencing the last 1 year that I've returned to Athens.


    Yup, and they' re not easy to fix, especially the second :)

    The food is still great, the weather as well, and the summer is coming, tourism helps :) I've seen and experienced much worse concerning poverty & health care having lived and worked in cities like NY, London, Dubai, Krakow and others, but that's obviously my experience, not everyones. The media are either exaggerating or covering up and every one is playing their role which is understandable, but the worst problem is this "general feeling of deep uncertainty about the future", in every level, as MirrorMan said, the feeling of being controlled by more powerful countries and organisations is too intense, we feel as hostages, with no power over their fate (thanks to our politicians). Personally, I plan on leaving again after the summer, but I'm the adventurous type, I can't stay in one place anyway :)

  • Yup, and they' re not easy to fix, especially the second :)

    It is other way around. If you have lots of resources and energy parasites just get their part and runs smooth, more or less. Issues start with shortages.

  • @VK

    I was pretty sure you would see it the other way around :) But what if there were the resources, and the government/ bank parasites preferred to betray their country, sink it to poverty, then allowing the energy parasites to get their part even cheaper (or a bigger part)?

    Edit: To make myself clear, what I mean is, the fact that the energy parasites want and will take their part is a given. Isn't it the governments/banks parasites job to at least make a proper/standard deal for their country? Hence the betrayal remark.

  • Bank of Greece figures showed that apartment prices fell 7.5 percent in the first three months of 2014 from a year earlier, after an 8.6 percent decline in the previous quarter.

  • New debts to the Greek state are constantly mounting while the repayment of old ones has slowed down considerably, according to a Finance Ministry document seen by Kathimerini.

    The document shows that only 9.3 percent of past debts were collected in the first few months of 2014, against 12.3 percent a year earlier, while new expired debts are being created faster than the old ones are being repaid, fed by a 63 percent jump in fines for administrative violations compared with last year.

    Another ministry document reveals that the worst-faring debt repayment category is that of the property tax on the self-employed, as only 7.9 percent of this has been collected.

  • Finance Ministry data published on Thursday concerning state debtors came as a shock, revealing that almost 2.5 million people are unable to pay their taxes. As a result, the new debts created in the first four months of the year came to 4.3 billion euros, or 1.07 billion per month.

  • Greece should dump the EU for the EAU

  • Greece should dump the EU for the EAU

    It won't help much. Problems are fundamental.

  • The number of drug addicts living on the streets of the capital has doubled since the beginning of the country’s economic crisis, according to research by the Therapy Center for Dependent Individuals

    The standard of living of those who do have a roof over their heads has deteriorated too, however, with four in 10 addicts telling aid workers that their homes lacked electricity and running water.


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  • Public Power Corporation (PPC) is heading for a financial blackout as unpaid electricity bills are growing at an annual rate of 30 percent, having reached 1.7 billion euros at the end of July from 1.3 billion euros last year.

    More than half of that amount, or 960 million euros, concerns household bills. Some 430 million is owed by high-voltage consumers and 180 million by the broader state sector.

    Judging by a further deterioration in bill payments since August, PPC officials estimate debts will soar to 2 billion euros by the end of the year.


  • Greek Education Ministry seek fill 1,100 job vacancies with teachers who would be gladly and proudly work on “voluntary basis”, that is without payment. According to daily TA NEA, Education Minister Andreas Loverdos considers to seek teachers who would work on voluntary basis in order to fill up vacancies in schools with teachers’ shortage.

    The volunteers will be rewarded with “bonus points” that will help them improve their hiring options, should these be possible on day in the near or -most likely – far future.

  • Greece’s Athex Composite GD, -1.50% tanked almost 13% Tuesday — the biggest drop for the index on record, according to FactSet. The renewed jitters came after the government, in a surprise move late Monday, said it would bring forward presidential elections to Dec. 17, potentially, setting the scene for snap elections in early 2015.

    Here’s why that’s important: Far-left party Syriza currently is leading the early polls and it seems likely they would win a snap election.

  • Since beginning of the austerity, direct taxes increased by nearly 53%, while indirect taxes increased by 22 percent.

    Particularly poorer households paid disproportionately more in taxes and the tax burden to lower-income rose by 337%. In comparison, the tax burden to upper-income households rose by only 9%.