As written CNNMoney.com, Wednesday (07/08/2015), many newspapers in the country who call Greece has entered a depression, not a recession. GDP has dropped 25 percent in the last six years. The unemployment rate rose from 10 percent in 2010 to 25 percent in March. One of the two 25-year-old residents do not have jobs.
There are many people who opt out option of Greece. As many as three percent of the population of Greece has embarked on the road since 2010.
Those who survive and work face significant pay cuts. Many businesses went bankrupt. A total of 60 companies every day this year out of business.
A resident there, Konstantinos Papageorgiou, forced to work temporarily because they do not have a steady job since graduating from college two years ago. He lived with his parents who had retired. "Many people who are not as lucky as me, have a family who helps (finance)," said Papageorgiou.
The Greek pension system is a major source of long debate to get a bailout for many years. The state budgeted pension funds greater than other EU countries.
Pension payments have been cut by 60 percent to 830 euros every month for the last five years. According to EU data, 12 percent of the Greek pensioners were in poverty. This figure is far from the average rat European countries, such as Finland that only 19 per cent and Austria by 16 percent.
The Greek government has always insisted in the negotiations with the EU to prioritize pensions and salaries of state employees before paying its debt to the International Monetary Fund (IMF), when the country was short of money.
Many banks have been closed and the government limits the number of withdrawals. The retirees who do not have a debit card trouble taking his money. These conditions create chaos. Until finally on Wednesday, some banks are open but the maximum cash withdrawal only 120 euros per customer.
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