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EU Economy Forecast for Greece: recession -0.3%, growth to return in second half of 2016

May 3, 2016 Economy 4

European Economy Forecast – Spring 2016. things looks better for Greece with recession at 0.3% and not 0.7% as predicted by the country’s lenders. In general, the EU forecast for Greece expects “Growth to return in the second half of the year.” The Economy more resilient than expected in 2015. …

Greece’s unemployment at 24%, highest in EU, still 1.150m Greeks without a job

April 4, 2016 Society Comments Off on Greece’s unemployment at 24%, highest in EU, still 1.150m Greeks without a job

Unemployment in Greece fell but it is still high, the highest within the European Union. Fro December 2015, Unemployment was not anymore 25% as in the last three years but at 24%. So, it is not 1:4 Greeks are unemployed but just 1:3.99999999…. Greeks. By the way, I do not …

Just 10% of Greece’s 1million Jobless receives “unemployment allowance”

January 5, 2016 Society 1

Only ten percent of Greece’s unemployed receives the unemployment allowance of 360 euro per month. According to Greek Employment Agency (OAED) governor Maria Karamesini, there are currently 1,050,000 registered as ‘unemployed’ and only 10% of them – that is 100,000 people – receive the small aid. Unemployment allowance is given …

Greece among the world’s five countries with highest unemployment rates

December 29, 2015 Society 2

Greece comes second on world’s list with highest unemployment rates. In the sixth year of austerity program, unemployment may have fallen below 25% but it is still high with one in four Greeks being without work. According to Forbes, the debt-ridden country is followed by Spain, another country of the …

Thousands of jobs to be lost in Greece’s banking sector

December 16, 2015 Economy 1

Greece’s four main banks will have to reduce their employees by a total of 4,350 and shut down about 180 branches up to the end of 2017. These new reduction demands result from the derailing of the Greek economy generated by the prolonged uncertainty during 2015 which brought the country …

UNHR “Humanitarian crisis in Greece has worsened” after 5 years of fiscal adjustment

December 8, 2015 Society Comments Off on UNHR “Humanitarian crisis in Greece has worsened” after 5 years of fiscal adjustment

The independent investigator from the United Nations Human Rights Office of the High Commissioner concluded his mission on the effects of the foreign debt crisis, the creditors’ adjustment program and the impact on economic, social and cultural Human rights. In the UNHR website, Juan Pablo Bohoslavsky posted his preliminary report …

Frenzy: 25K people have applied for 690 vacancies at Greece’s public hospitals

December 4, 2015 Society Comments Off on Frenzy: 25K people have applied for 690 vacancies at Greece’s public hospitals

Greeks in frenzy for a job at a public hospital. A total of 690 vacancies have been opened for nurses, paramedical professions and administrative staff and thus for graduates of secondary education or vocational schools IEK. And Greeks are storming the electronic applications system to grab one of the very …

Greece has mass production of “unemployed labor-craft with higher education”

November 26, 2015 Society Comments Off on Greece has mass production of “unemployed labor-craft with higher education”

Greeks continue to ‘invest’ in education and ‘produce’ qualified jobless despite the high unemployment among the youth and the highly skilled labor craft. According to OECD’s latest report “Education at Glance 2015” Greece has the highest rate in higher education. The Organization for Economic Cooperation and Development found in its …

PM Tsipras announces Gov’t goals, budget draft sees austerity worth €6.4 bln

October 6, 2015 Economy, Politics 5

The “Silly Season” is over. Time for hard work, hard news and figures. Greece’s government is challenged to meet its obligations towards the country’s lenders, successfully pass the first review and receive 2 billion euro as first tranche of 3. bailout program. After the Eurogroup approved the 48 Prior Actions …

Greek Statistics: jobless rate 24.6% in Q2 but 25%-25.6% on monthly basis

September 17, 2015 Economy 2

Success! Greece’s unemployment rate fell to 24.6% in the second quarter of 2015. Second quarter is April, May, June when traditionally the tourism industry gets boosted. What is odd is that the monthly statistics of unemployment were not that low and therefore one could raise the question: If unemployment was …

Greece leads in EU- and EZ-unemployment: 25% general and 51.8% among youth

September 1, 2015 Society 2

Nice. Unemployment rate dropped from 25.6% April to 25% in May 2015. However, this positive development did not hinder Greece from holding the top position in unemployment among the European Union and the Eurozone countries. With 25% in general unemployment and 51.8% among the youth, Greece leads the list of …

OECD cuts Greece’s Growth Outlook, increases Debt/GDP and Unemployment projections

June 3, 2015 Economy Comments Off on OECD cuts Greece’s Growth Outlook, increases Debt/GDP and Unemployment projections

The Organization for Economic Cooperation and Development cut its global growth forecast, saying investment is lagging and risks including a possible Greek default are hurting confidence. In its semi-annual report the OECD says that “the world economy will expand 3.1 percent this year, down from the 3.7 percent predicted last …

20% of Greek employees await for their salaries 3-12 months

May 25, 2015 Society 9

Here we are: competitive and eager to work for investors bringing development and growth. Here we are: Greeks eager to work for no money or for the prospect of being paid some time in the future – near or far, it doesn’t matter. Main thing we have an occupation to …

Trapped in Greek bureaucracy: jobless father of 3 attempts to set himself on fire

May 14, 2015 Society 14

Don’t ever mess with the Greek bureaucracy, especially when it comes to ask from the state something that you have the right to receive as a citizen. Health care? Benefits? Allowances? Tax return? You find yourself running from department to department, from different floors to different buildings in different suburbs …

EU Commission Not Satisfied with Greek bailout talks? No problem. Millions of Jobless Not Satisfied either…

April 16, 2015 Politics 5

European Commission spokesman Margaritis Schinas said Thursday that the European Commission was “not satisfied with the progress of reforms talks between Greece and its creditors.” “Work needs to intensify” Schinas said hinting to the next eurogroup meeting on April 24th and added that “This sequence of events…has not yet materialized, …

IMF and EU cannot decide on impact of a Grexit to other euro zone members

April 15, 2015 Economy 3

IMF’s chief economist Olivier Blanchard expressed hope that there will be an agreement with Greece, however he stressed at the same time that a Greek crisis cannot be ruled out. By “Greek crisis” Blanchard probably meant a “Greek exit from the euro” because as everybody knows since long ago that …

Greece’s general unemployment still at 26% and 1:2 youth without job

March 5, 2015 Society 1

Bang! I thought Greece was making much-heralded fiscal progress and much- applauded primary surpluses in 2014 and the lenders and the ND-PASOK government were congratulating each other for the glorious economic achievements… And then everyone got angry because just when the “country was about to exit the bailout adjustment program …

UPD Greece’s Homeless: Jobless parents, two kids, one cat live in a car

October 20, 2014 Society 6

Squeezed between steering wheel, handbrake, door and dashboard, Katerina reads in her history book, takes notes for school. Next to her, on the driver’s seat, cat Eddy stares right in the camera lens. It may look like a cute snapshot on a sunny day, if it wasn’t for a sad …

Poverty and long-term unemployment are two Greek facts…

October 7, 2014 Society Comments Off on Poverty and long-term unemployment are two Greek facts…

Poverty in austerity-hit Greece is a fact. According to the recently published EU data on Labor, incomes have dramatically decreased since 2010, since the country sought the ‘rescue’ via the International Monetary Fund. “Most affected by the income decrease are the vulnerable society groups. Real income in low income groups …

Greek PM hails the end of summer with optimism over economic recovery

September 1, 2014 Politics Comments Off on Greek PM hails the end of summer with optimism over economic recovery

The month started with an ascertainment: That the “unemployment is a treacherous and tough opponent of the society, undermining the dreams of the youth” – so said Greek Prime Minister Antonis Samaras on Monday September 1st, stressing that in order to tackle unemployment “we need to take action now that we enter …

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