Aug
22

‘Nobody believes in anything anymore’: Why Greece’s economic crisis is not over

Thanasis Gavos   Mon, 22 Aug 2016; 15:04

With Europe facing pressing crises including the refugee crisis, economic slowdown and political disintegration following the Brexit vote, it’s easy to forget that Greece’s political and economic crisis dominated headlines last summer.

One year on and a third bailout worth 86 billion euros ($96.1 billion) later, arrived at after tortuous negotiations between Greece and its lenders, and the situation in Greece is a game of two halves with many Greeks suffering – and some trying to make something out of a bad situation.

Greece’s government has been forced to make widespread spending cuts over the course of its three separate bailout programs, making life harder for most Greeks of ordinary means. The cuts have affected all ages with unemployment rising to the highest level in Europe.

A survey by independent analysis firm DiaNEOsis in June revealed that many Greeks were facing an increasing struggle to get by. Extreme poverty in the Greek population (of 11 million people) had risen from 2.2 percent in 2009, to 15 percent in 2015, the public opinion survey of 1,300 people showed, with 1.6 million people now living below in extreme poverty.

Read the full article here.

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