Via Instapundit: Two years after an international bailout that was supposed to lead to an economic revival, conditions here have only worsened and life for Greeks has become one of constant misery.
The economy is stagnant, unemployment hovers around 25% and is twice as high for young adults, taxes are rising, and wages are falling. Half of Greek homeowners can’t make their mortgage payments and another quarter can’t afford their property taxes, according to the Bank of Greece.
“All these years, I've heard dozens of promises from the current and the previous governments on creating new jobs and bettering conditions in the country, but I never believed anything of what I heard,” said Nikos Theodoridis, 57, who became homeless during the economic crisis that began in 2007.
“Homelessness and the crisis are still here, despite all that politicians are saying,” said Theodoridis, who makes a paltry living hawking magazines on the street.
On July 5, 2015, voters soundly rejected the terms of a proposed bailout with international lenders because the plan demanded too much austerity. Yet, Prime Minister Alexis Tsipras and his left-wing Syriza Party ignored the referendum results and signed a third bailout deal that would provide nearly $100 billion in loans the country desperately needed to avoid collapse.
The economy is stagnant, unemployment hovers around 25% and is twice as high for young adults, taxes are rising, and wages are falling. Half of Greek homeowners can’t make their mortgage payments and another quarter can’t afford their property taxes, according to the Bank of Greece.
“All these years, I've heard dozens of promises from the current and the previous governments on creating new jobs and bettering conditions in the country, but I never believed anything of what I heard,” said Nikos Theodoridis, 57, who became homeless during the economic crisis that began in 2007.
“Homelessness and the crisis are still here, despite all that politicians are saying,” said Theodoridis, who makes a paltry living hawking magazines on the street.
On July 5, 2015, voters soundly rejected the terms of a proposed bailout with international lenders because the plan demanded too much austerity. Yet, Prime Minister Alexis Tsipras and his left-wing Syriza Party ignored the referendum results and signed a third bailout deal that would provide nearly $100 billion in loans the country desperately needed to avoid collapse.
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2 comments:
Grasshopper, meet Socialism.
How many times does I TOLD YOU SO become a cautionary tale that people actually listen to?
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