Greece's Surging Unemployment May Become ‘Bomb’ to Society, Minister Says

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts
  • TrueMacedonian
    Senior Member
    • Jan 2009
    • 3810

    Greece's Surging Unemployment May Become ‘Bomb’ to Society, Minister Says



    Greece's Surging Unemployment May Become ‘Bomb’ to Society, Minister Says

    By Marcus Bensasson - Mar 28, 2011 7:03 AM ET

    Greece’s increasing jobless rate may become a “bomb in the foundations of society” as the government struggles to lower the country’s budget gap, Economy and Competitiveness Minister Michalis Chrisochoides said.

    “The economic problem will at some point be solved but the social problems are getting continually more toxic,” Chrisochoides said in an interview on March 22 in Athens. “At the moment we have a society that is patient and dealing with the problem, but we have to show people that what we are doing is working.”

    Greece’s unemployment rate surged to a record 14.8 percent in December, making it the second highest after Spain in the 17- member euro region. The government has been forced to toughen spending cuts and raise taxes in exchange for last year’s 110 billion-euro ($115 billion bailout from the European Union and the International Monetary Fund as the nation grapples with its third year of recession.

    A possible doubling of investment under the country’s National Strategic Reference Framework may help shift the growth drivers from consumer spending to exports and output, Chrisochoides said. The funds are unaffected by government efforts to implement deficit-cutting measures equivalent to 0.75 percent of gross domestic product this year, he said.

    “We are trying to create a Greece that is friendly to investment,” Chrisochoides said. “Many businesses that didn’t have a healthy foundation will close during this crisis. The issue is to avoid strong ones closing because of a lack of available bank finance.”

    Among those at risk is Elefsina Shipyards, which filed for creditor protection on March 10. The shipyard, which builds commercial and military ships, is in talks with the government and its lenders, Alpha Bank SA and Emporiki Bank SA (TEMP) about a restructuring.

    Elefsina closing “would be a defeat because it is a very strong operation that employs 700 people and gives work to small businesses,” Chrisochoides said.

    To contact the reporter on this story: Marcus Bensasson in Athens at [email protected]

    To contact the editor responsible for this story: Craig Stirling at [email protected]
    Slayer Of The Modern "greek" Myth!!!
  • fyrOM
    Banned
    • Feb 2010
    • 2180

    #2
    Only 14.8% unemployment rate? That's not enough. Od eden pomalce.

    Comment

    • George S.
      Senior Member
      • Aug 2009
      • 10116

      #3
      the bigger the unemployment the bigger the eventual revolt.
      "Ido not want an uprising of people that would leave me at the first failure, I want revolution with citizens able to bear all the temptations to a prolonged struggle, what, because of the fierce political conditions, will be our guide or cattle to the slaughterhouse"
      GOTSE DELCEV

      Comment

      • Daskalot
        Senior Member
        • Sep 2008
        • 4345

        #4
        The snowball has started to roll. Lets see were it ends up.
        Macedonian Truth Organisation

        Comment

        • Voltron
          Banned
          • Jan 2011
          • 1362

          #5
          ^ Hopefully into a default. I seriously dont understand what our govt is doing. They are buying time. Its inevitable. Why pander to these capatilistic pricks is beyond me.

          1)Default and Leave the Euro sending this message
          2)Exile/Jail Politicians and Greek juggernauts for treason
          3)Confiscate their property (including their family members)
          4)Bring in Diaspora Greeks to rule the country.

          I know Im dreaming, but if it was up to me thats what I would do.
          More and more I am admiring Argentina. Props to them.

          Comment

          • Bill77
            Senior Member
            • Oct 2009
            • 4545

            #6
            Originally posted by Voltron View Post

            1)Default and Leave the Euro sending this message
            2)Exile/Jail Politicians and Greek juggernauts for treason
            3)Confiscate their property (including their family members)
            4)Bring in Diaspora Greeks to rule the country.

            I know Im dreaming, but if it was up to me thats what I would do.
            More and more I am admiring Argentina. Props to them.
            Well i have the similar wishful thinking only i dream it on the Macedonian government.


            1)Turn our backs on any EU aspirations and sending this message
            2)Exile/Jail Politicians and Macedonian juggernauts for treason
            3)Confiscate their property (including their family members)
            4)Bring in Diaspora Macedonians to rule the country
            http://www.macedoniantruth.org/forum/showthread.php?p=120873#post120873

            Comment

            • George S.
              Senior Member
              • Aug 2009
              • 10116

              #7
              voltron your politicians have allready spirited the money away.So when things get more bad massive unemployment will bring a big revolt by the greek masses.
              "Ido not want an uprising of people that would leave me at the first failure, I want revolution with citizens able to bear all the temptations to a prolonged struggle, what, because of the fierce political conditions, will be our guide or cattle to the slaughterhouse"
              GOTSE DELCEV

              Comment

              • TrueMacedonian
                Senior Member
                • Jan 2009
                • 3810

                #8
                Originally posted by Voltron View Post
                ^ Hopefully into a default. I seriously dont understand what our govt is doing. They are buying time. Its inevitable. Why pander to these capatilistic pricks is beyond me.

                1)Default and Leave the Euro sending this message
                2)Exile/Jail Politicians and Greek juggernauts for treason
                3)Confiscate their property (including their family members)
                4)Bring in Diaspora Greeks to rule the country.

                I know Im dreaming, but if it was up to me thats what I would do.
                More and more I am admiring Argentina. Props to them.
                I guess dreaming and blaming is a typical grk response in the face of a catastrophe. Unemployment in greece is now 27% soon to hit 30%. This dreaming has been a nationwide nightmare for some.
                Slayer Of The Modern "greek" Myth!!!

                Comment

                • DraganOfStip
                  Senior Member
                  • Aug 2011
                  • 1253

                  #9
                  Here's something I came across by accident,an interesting article about why unemployed Greeks still refuse to go strawberry picking on their fields amid the crisis and leave that job to the migrant workers (many of them even Macedonian).

                  ”A people that elect corrupt politicians, imposters, thieves and traitors are not victims... but accomplices”
                  ― George Orwell

                  Comment

                  • Phoenix
                    Senior Member
                    • Dec 2008
                    • 4671

                    #10
                    Originally posted by DraganOfStip View Post
                    Here's something I came across by accident,an interesting article about why unemployed Greeks still refuse to go strawberry picking on their fields amid the crisis and leave that job to the migrant workers (many of them even Macedonian).

                    http://www.keeptalkinggreece.com/201...berry-picking/
                    If there's such a thing as 'Karma', the greeks still haven't encountered it...all this 'inconvenience' the 'poor' bastards are enduring is paradise compared to the fate they deserve.

                    I've just watched a doco on Cyprus and their own fall into the abyss but WTF were they (Cyprus and the EU) thinking, as the analogy the presenter used, the Cypriots went from goat herders to international bankers, overnight.

                    You just can't polish a turd, whether that turd be greek, cypriot, slovenian, bulgar or any of the first world pretenders that have fraudulently entered the EU.

                    Comment

                    Working...
                    X