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wayitis
Oct 12th, 2012, 12:58 AM
ATHENS, Greece (AP) — Unemployment in Greece hit a record high of 25.1 percent in July as the country's financial crisis continues to exact its heavy toll, official figures showed Thursday.

All indications are that unemployment in Greece will continue to rise. The economy has shrunk by around a fifth since the recession started in 2008 and youth unemployment has pushed far above 50 percent :eek:. The economy is expected to enter a sixth year of recession next year.

The state statistics agency said Greece's unemployment rate rose from 24.8 percent in June. According to European statisticians, that would be the same rate as Spain's in August.The two countries have the highest unemployment rates among the 17 that use the euro. In August, eurozone unemployment stood at an average 11.4 percent, itself the highest level since the single currency was launched in 1999.

Greece's statistical authority said 1.26 million Greeks were out of work in July, with more than 1,000 jobs lost every day over the past year. In the worst-affected 15-24 age group, unemployment was 54.2 percent. In July 2008, a year before Greece's acute financial crisis broke, there were only about 364,000 registered unemployed.

The country's main GSEE labor union said real unemployment is above 30 percent and growing, which it blamed on "violent" government cutbacks.

After losing access to international money markets and nearly defaulting on its mountain of debt, Greece has survived on international bailouts since May 2010.

However, solvency comes at a harsh price: To secure and continue receiving the loans, Athens imposed tough austerity measures, slashing incomes and repeatedly increasing taxes, in an attempt to get its public finances in order. The cutbacks have triggered deep resentment among a population reeling under nearly three years of austerity. GSEE and other main unions have called a new general strike and demonstration next week.

more on http://news.yahoo.com/greek-unemployment-rises-above-25-percent-093622765--finance.html

Tough times ahead for Greeks, as the two easiest and most used mechanisms against social disatisfaction related to economic crisis, immigration and currency devaluation, are not within easy reach this time. Maybe bailing out of the euro zone is not such a bad idea after all...

Williamsser
Oct 12th, 2012, 02:54 AM
Socialism does not work.

oh yeah i guess
Oct 12th, 2012, 06:35 AM
Socialism does not work.

I urge you to look up the definition of socialism.

PhilePhile
Oct 12th, 2012, 07:50 AM
Socialism does not work.

That's because countries like the U.S.A. suck the life out of them :lol: .

Interestingly, the U.S.A. is the most "socialist" country in the world (big corps, government servants and the military industry).

Sammo
Oct 12th, 2012, 11:12 AM
Well Spain's is at 24.8%, not that different


Fucking shitty country, I so have to emigrate to Germany :facepalm:

oh yeah i guess
Oct 12th, 2012, 12:35 PM
That's because countries like the U.S.A. suck the life out of them :lol: .

Interestingly, the U.S.A. is the most "socialist" country in the world (big corps, government servants and the military industry).

That's not the correct definition of socialism either ...

Londoner
Oct 12th, 2012, 02:02 PM
Socialism does not work.

The whole of the EU is on the brink of disaster and all the countries concerned wallowed in capitalism, dressed up in the UK as New Labour. America is also a capitalist country and look at the mess there. The banking system and era of excess were intertwined between the US and EU.

Now consider China and Russia and Norway.

Londoner
Oct 12th, 2012, 02:03 PM
Well Spain's is at 24.8%, not that different


Fucking shitty country, I so have to emigrate to Germany :facepalm:

Foreigners are increasingly not welcome in Germany. So be careful. ;)

Sammo
Oct 12th, 2012, 02:08 PM
Foreigners are increasingly not welcome in Germany. So be careful. ;)

They are if you're a qualified professional, which I'm working on becoming.

Expat
Oct 12th, 2012, 03:18 PM
well at least the EU bureaucracy got a Nobel Peace Prize. the real joke will be when it gets a nobel prize in economics.

Mynarco
Oct 12th, 2012, 03:19 PM
They are if you're a qualified professional, which I'm working on becoming.

A professional troll?

Sammo
Oct 12th, 2012, 03:35 PM
A professional troll?

I'm actually trying very hard not to be so good at that :oh:

Mynarco
Oct 12th, 2012, 03:57 PM
I'm actually trying very hard not to be so good at that :oh:

are you?

pov
Oct 12th, 2012, 03:59 PM
Excellent! Good to see that 1 in 4 people are just chillin'. :yeah:

Sammo
Oct 12th, 2012, 04:06 PM
are you?

Huh, of course, at my peak I would definitely win the TWAT contest if I wished to :oh:

PhilePhile
Oct 12th, 2012, 04:08 PM
That's not the correct definition of socialism either ...

fvPpAPIIZyo

oh yeah i guess
Oct 13th, 2012, 01:04 AM
The whole of the EU is on the brink of disaster and all the countries concerned wallowed in capitalism, dressed up in the UK as New Labour. America is also a capitalist country and look at the mess there. The banking system and era of excess were intertwined between the US and EU.

Now consider China and Russia and Norway.

They're all capitalist too?

adam_ads_n
Oct 13th, 2012, 09:48 PM
I feel sorry for all Greek people who want to stay in Greece, but I am definitely not sorry for their governments over the years. Now people need to pay the price for all the lies from governing councils, because they surely did not tell people how bad situation is and it just exploded. Giving out benefits just to stay in power is the worst that can be done... I know social countries are nice and it's a pleasure to live in most of them, but some bonuses and benefits were out of this world. EU made an error with allowing Greece to join Eurozone, but as far as I know - application of this country was not completely true either, so EU had no right to refuse.

When my country went out of communism we inherited billions of debts to Soviet Union and other "helpers" and during this time noone told it to public. That is why our transformation was bumpy, but at least we learned about the debt. I am sure if it turned out that our public debt is not 52% of GDP but 80% - people will go on streets like it happened in Greece.

Btw - here unemployment is something like 12-13% and it is supposed to grow, but it's always been something like this as many people work illegaly and take unemployment benefits from country such as health care.

saint2
Oct 13th, 2012, 09:56 PM
Every time I think Nobel Comitee can't get any dumber, they manage to proove me wrong. Obama for starting wars, Gore for polluting the air, UN for being most corrupted organisation on earth, and now EU for ruining countries...

BTW- what excatly EU means ? Brussel Beurocrats ? Or "we the people" ? Can I, as EU citizen, and Peace Nobel Prize Winner, have my share of this prize ?

C. Drone
Oct 14th, 2012, 10:34 AM
Socialism does not work.

there is no unemployment* in real socialism, so your logic pretty much fail.



*on paper

Sammo
Oct 14th, 2012, 11:45 AM
Good socialism works, take a look at Scandinavia.

Londoner
Oct 14th, 2012, 03:48 PM
They're all capitalist too?

Norwegians would say no.

PhilePhile
Oct 14th, 2012, 05:39 PM
George Gilder on why socialism always fails

SvWbjpcy9jI


He, http://en.wikipedia.org/wiki/George_Gilder , reminds me of a popular short story by Shirley Jackson.

"It wasn't fair" (@ 2:32 (http://www.youtube.com/watch?v=PMhV3fwx5Sg&feature=player_detailpage#t=149s))

PMhV3fwx5Sg

saint2
Oct 14th, 2012, 06:55 PM
Good socialism works, take a look at Scandinavia.

Scandinavia is propably most free market oriented place in Europe. But its cold there and you can;t buy a beer in a normal shop. Not a good place to live.
Been there, don't recomend it.