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Survey: Income reduced 38% – 8 in 10 Greeks have cut even on basic foodstuff

93% of the Greeks report a fall in income in the last 3 years, while 8 out of 10 declare to have made cuts even in basic goods. According to a survey conducted by the General Confederation of Merchants and Craftsmen (GSEVEE), the purchasing power of Greeks has been reduced into half with the majority of them to have limited even basic foodstuff.

Speaking to VIMA FM, President of GSEVEE, Dimitris Asimakopoulos, talked about the dramatic decrease of incomes reaching an average of 38%.

79% have limited basic foodstuff

94% no longer eat out in restaurants

 93.1% has suffered significant income reduction since beginning of the crisis 3 years ago. Averade reduction 38%.

40% of households have at least one unemployed.

40% of households live on income coming from one pension.

50% of households uses banks savings/credit cards/borrowing from friends/relatives to cover basic needs.

40% has debts in utility bills (electricity, water, energy), tax office and loans.

80% limits transport costs

92% does not buy clothes/shoes

83.2% saves in home heating.

94% no longer eat out in restaurants

47% would buy products & services without receipt in order to benefit form price reductions.

42.5% buys low-quality products

 Half of the Greek population is threatened with economic and social isolation as it cannot cover basic needs, pay utilities and taxes, repay loans and lives on low-quality products to come along.

A new social class is on the rise: the 50-percent. But Greece – the country – is doing better 🙂

Full Survey here.

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  1. I’m sure all the government employees are doing just fine.
    Does anyone in Greece understand what is going on?
    It should be obvious to everyone when half the utility bill is taxes.

  2. According to To Vima:

    Mr. Asimakopoulos said that half of households admit they would buy without proof, in order to benefit. Meanwhile, the other half seems to think about, according to qualitative data.

    And then he went on with:

    “The survival instinct forces you to have behaviors that otherwise you would not have. With chains, handcuffs and threats can not be addressed such phenomena”, said Asimakopoulos.

    “otherwise would not have”???? LOL! A selective memory like that must make live so much easier and simpler!