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The Extreme Greek Poverty 2017

Posted by moodhacker on January 26, 2017 at 5:50 AM

One in three families in Greece has at least one unemployed member, while the middle class is dwindling, a new survey of the Hellenic Confederation of Professionals, Craftsmen & Merchants (GSEVEE) showed

According to the same research one in four households live with the fear that their assets will evaporate under the new tax and security contribution burdens and high cost of living.


The survey was conducted by MARC using a sample of 1,000 households, and showed further that one in three households has at least one member who is unemployed. One in five households has at least one member who makes less than minimum wage (586 euros per month). Of those who are unemployed, only one in ten receives unemployment benefits. Also, one in ten households has one member who emigrated abroad to find work.


Also, 75% of households are poorer compared to the first years of the crisis, with their life quality being much worse than in previous years.

Another study published on January 24 by the Bank of Greece’s Economic Bulletin revealed that Greeks have seen their salaries shrink considerably in the period between 2010 and 2016

The survey showed that from the onset of the crisis in 2008 until last year in 2016 Greek households lost some 37.5 percent of their wealth. -

In the first study, of GSEVE,  65%  of the households asked during the survey,  said they have to make cuts in order to make ends meet. There is also 16% who complain that their income is not sufficient to cover their basic needs.


Regarding financial obligations,

  • 21.5% of households have outstanding debts in taxes,
  • 27.5% have outstanding debts to banks.
  • Furthermore 34% believe that they cannot meet their tax obligations and
  • 15% state they are unable to pay the single property tax (ENFIA).
  • Also, 34.5% say they cannot repay the loans they have.


In terms of consumption,

  • 53% made cuts in clothing,
  • 48% made cuts in going out and
  • 40% made cuts in foods. Also
  • 35% said they cut on the service of their car.


The future outlook is rather bleak as well, with 73.5% of participants believing that 2017 will be much worse than 2016 for their finances.


In 2015, 15 per cent of the population in Greece lived in extreme poverty compared with 2 per cent in 2009, according to another recent study conducted by Dianeosis, a Greek NGO.


“There are families that do not have anything to eat,” , the NGO aid workers dennounced talking to the WSJ.



In summer 2015, as Greece teetered on the edge of the financial precipice, the EU warned that its plight put the future of Europe at stake. 

Eighteen months after the country’s leftist government signed with the European authorities Greece's third bailout in five years. that granted the  nation  an €86bn package, the Greek crisis seems to disappeared from the minds of many in Europe, notes the WSJ, but is now replaced by new difficulties such as Brexit, a wave of terror attacks in capital cities and looming elections in countries such as France and Germany.


But in Greece, the crisis rages on, the articles stresses

 While the country is arguably in better shape financially than it was two years ago, the social crisis has intensified. In return for the bailout, officials demanded more austerity measures.


EU officials may cheer signs that Greece’s economy could be improving — it managed two quarters of consecutive growth last year and has forecast growth of 2.7 per cent this year — but a significant turning point looks unlikely.

In many ways it is merely a recovery on paper: poverty is increasing and unemployment is still the highest in Europe.


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