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Greece, Austerity & Europe's Future

Georgakas, Dan
http://www.solidarity-us.org/site/node/4493

Publisher:  Against the Current
Date Written:  01/09/2015
Year Published:  2015  
Resource Type:  Article

Easily lost in these political gyrations is the immense suffering of the Greek people. Unemployment continues to be 25% for the general population and 60% for younger people. One result has been that 300,000 Greeks, or 3% of the total population, has emigrated in the past few years.

Abstract: 
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Excerpt:

Easily lost in these political gyrations is the immense suffering of the Greek people. Unemployment continues to be 25% for the general population and 60% for younger people. One result has been that 300,000 Greeks, or 3% of the total population, has emigrated in the past few years.

The overwhelming majority of the emigrants are young and college-educated, amounting to a national brain drain. The freedom to work anywhere in the European Union is the major reason Greeks wish to remain in the EU even if they favor leaving the Eurozone.

Among other grim statistics are that the number of children living in poverty is approaching 50%, and a quarter million Greeks have applied for humanitarian relief for purchasing food, paying rent and maintaining electricity services. Additional hardships are related to lack of medical supplies, delayed payment of wages even when people are employed, and a rising suicide rate.

The economy is slated to decline another 2-4% for another four years, with the national debt climbing to 200% of the annual gross domestic product.

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