Jobless: 60% of Young Greeks

Unemployment_Greece1According to the latest Eurostat figures, Greece’s rates of unemployment remain the highest in Europe. More precisely, Greece comes first with unemployment at 27.9 percent followed by Spain with 26.2 percent.

Unfortunately, for one more time the figures show that unemployment mainly hits the young under 24 years old. According to Eurostat data, unemployment reaches 61.5 percent among the young.

In all the 28 countries of the European Union, unemployment remained stable at 10.9 percent in September, despite the optimism for a gradual exit from the financial crisis. The unemployment percentage in the Eurozone also stayed unchanged at 12 percent. In total, it is estimated that the unemployed in the EU reached 26.6 million citizens and in the Eurozone 19.2 million citizens.


  1. Under SYRIZA/GD you will do so much better. You will get rid of the memorandum and you will no longer be under EU rules. Oh boy you are going to do just great. Wait– you will have to go back to the drahma. Try buying a car or gas with the drahma or anything else. According to the world bank the drahma will devaluate by 50%.—and then you will be begging for the EU to return and give you money.

  2. speculation and fear mongering. inflation is a much more easier situation to control than deflation and high unemployment. Greeks are having a real easy time right now buying cars, gas, and anything else right?

    being anti ND/PASOK doesn’t make one XA/Syriza

    the negative effects of the drachma will be short lived, and much more so than this 5 year slow motion trainwreck that was caused by and exacerbated by ND/PASOK. Lowering the value of the currency is a one time thing. The long term benefits outweigh those we are seeing now under the anti-growth EU regiment which has rigged the game. The alternative is for the EU to become a true monetary union, which EU won’t consider.

    the EU will be begging for us to stay in the EU as their banks go bankrupt overnight with a Grexit and they can no longer use Greece as the pass through conduit vehicle for the indirect bank bailouts (85% of the greek bailout goes to foreign banks) and will have to resort to a stigmatizing direct bank bailout. Greece has all the leverage. It’s unfortunate they have a bunch of cowardly corrupt germanotsoliades in government.

    Or, more simply:

    1. Default.
    2. Leave Euro.
    3. Print money.
    4. Monetize debt.
    5. Devalue currency.
    6. Regain competitiveness.
    7. Economic recovery.

  3. Having 60% unemployment in a country like Greece is just wrong…
    There really is something wrong with this.. What is really sad is that not one politician is standing up to change the environment or operating conditions in Greece and the way the system works…..Someone needs to offer some sort of hope to our youth…

  4. You know nothing about economics do you. Deflation within the country is much easier on the people. The fact that Greeks can’t deflate from within is causing unemployment as they lack the competitive edge. Why do you think the Germans won’t let Greece leave?
    The only ones who benefit with keeping the Euro are those who transfer their money outside of Greece. They will feel it. Exports will be cheaper as well. Tourist get more bang for their buck as well.
    Look at Turkey…they main beneficiary of the Euro because it is outside of the zone.

  5. I agree but I think the Greeks should keep their currency at par with say Silver or Gold as a standard to add value.