Crisis Makes Greece 3d Poorest In E.U.



povertyOnce a rising economic power in the Balkans, a crushing economic crisis has stripped Greece of much of its wealth and pushed to ahead of only neighbors Romania and Bulgaria among the poorest countries in the European Union.

Greece is one of the poorest countries in the EU according to a research published today by a German think-tank. The country is third only to Bulgaria and Romania which are poorer. Some 20 percent of Greeks are living below the poverty level now.

According to these statistics the poorest countries in the 27 countries of the EU are mainly the Easter Europeans with the Scandinavian, Luxembourg and Netherlands being the richest. Greece ranked 14th among the 15 pre-2004 EU members.

According to IW, Institute of German Economy, Greece ranks third in poverty measured by four different ways; official poverty, which includes those who earn less than 60% of the average income, estimated poverty based on a person’s own estimation of his/hers own economic situation, the percentage of people living in extreme poverty and the real disposable income of a family.

 

According to researchers, poverty is a big problem in Latvia as well. Scientists proposed series of reforms to protect labor as a mean to reverse the trend of impoverishment. They also proposed supporting social groups which are in great danger of impoverishment such as single parents. Since 2008, when the economic crisis began, unemployment rose from 7.5% to 27% and poverty rose from 20% to 40% with another 20% being on the edge of the official poverty rate which is estimated as 60% of the average income.


13 COMMENTS

  1. The “solution” to increase the standard of living according to the left is flood our country with unskilled third world illegals with no chance of integrating while our leftists riot for handouts from rich people.

    Taking money out of one pocket and sticking it in the other will clearly fix our non-existent industry and technology sector. Just whine about banks, politicians, EU, Germans, fascism, rich people and anyone but ourselves. Our leftists promise there is “more money”. If we vote for them they promise our check in the mail. (see what a good job the communists in Cyprus did to fix everything these last few years)

    Work? Who needs to do that.

  2. More incredible fraud and criminality brought to Greece by the EU Commission and
    IMF!
    The Euro Zone is finished and dying by it’s own disgraceful, ignorant corrupt EU Leaders!

  3. Alex… It sounds like English you’re talking, but no one understands a word you’re saying. If we throw you a stick, will you go away?

  4. Hahahahhahahha. Im rich. I got ma Maya’s US pension in ma pocket & desperate Greek women are jumping in ma bed!

  5. I wish to correct Spyros Kouvoussis in his article regarding “Once a rising economic power in the Balkans”…Greece was never a rising economic power not just in the Balkans but in the entire world…Politicians and their parasites has ruined its economy, bankrupt the country and looted it’s wealth which lead people to commit suicide while others left the country seeking a better live…Greece is a country for the corrupt, the crooks and the criminals only…Greece was never and will never be a rising economy simply because we have corrupt politicians…

  6. The Euro Zone is not finished, but Greece is finished. And rightly so. After decades to self-destruction with corruption, nepotism, tax-evalsion, inefficiency, elite-malfuntion and so on. But then, Greece has been famous for blaming their problems on others since they became a Roman province.

  7. I agree that those awful hidious polititians and their parasites destroyed Greece and shockingly no one stopped them. The polititians are disgusting, vulgar greedy snakes who couldn’t care a less about Athens or her people. The people are suffering and for what? It should be those theiving polititians who stole 100’s of millions if not billions who should be thrown in jail and fed dog food for the rest of their lives. One thing I disagree with is that yes Greece will one day be a power house and rising economy. Maybe not for the foreseeable future but once this awful older generation clears off and the Greeks educated abroad return things will change. The Athenians are too dumb to understand it any other way, these people don’t want to change. It’s up to the Greeks returning from abroad to make the future bright.

  8. I disagree, you can’t blame a nation because their idiot greedy disgusting poltitians have destroyed them. The Greek government are thugs who deserve this but the country itself doesn’t. Billions is being invested into Greece now and not from the Eurozone but from the Chinese, Qater etc. So hopefully the younger generation will have the sense to move forward and not 100 years backwards like the older genertions.

  9. I agree with you but the well educated Greeks who live abroad will never go back…Yes they love the country same as I do but will never return…Η ελλάδα σκοτωνει τα παιδιά της…Do you understand Greek, if not I will translate this to you…Greece kills it’s children…Greece was never interested in investing in its professionals…Greece was never interested in new infrastructures…Greece has never been interested in changes to its failed system…The new government with our politicians are not interested in implementing changes from fear of losing votes, power and finding themselves without a job…Our politicians are very good in the bla…bla…bla only…Greece is a country for the crooks, the corrupt and the criminals and it will change if our 300 pigs are sent home for good…

  10. Vigilantes will rise . As marquis d la fayet told :Insucretion is the most sacred and most idesposible of duties