x

Economy

Crisis Ending, But Most Greeks Still Feel Poverty’s Pinch

February 7, 2020

ATHENS – Cafes are full, supermarket sales are up, confidence is rising but a near decade-long economic and austerity crisis left an indelible mark, with a survey finding 68.3 percent of Greeks are living close to or below the poverty line.

The results came from the poll done by the Organization for Economic Cooperation and Development (OECD) that was published in the Hellenic Federation of Enterprises (SEV) that also showed 12.9 percent of people are trying to make ends meet below that level.

Some 55.4 percent said they feel vulnerable and could fall below the poverty line if they miss out on three months salary, said the survey, reported Kathimerini, the overall findings revealing that the proportion of Greeks struggling to survive one of the OECD’s highest, behind only Latvia.

SEVE said Greece is among the European Union countries with the greatest inequalities in incomes, made worse by austerity measures imposed by successive governments that hammered workers, pensioners and the poor while the rich, oligarchs, politicians, the privileged and Parliament workers largely escaped with near impunity, some even prospering.

RELATED

ATHENS - "The increase in pensions in 2023 is granted and will be much higher than initial estimates," Finance Minister Christos Staikouras said on Tuesday, adding that the amount has been included in the budget.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

Greek-American Cornell Student Rescues Man on Subway Tracks in the Bronx

NEW YORK – Greek-American Cornell University senior Bryce Demopoulos rescued a man who had fallen on the subway tracks at the Third Avenue-138 Street station on the No.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.