The Greek economy is spiralling out of control. It is in a caught up in negativity and there will be no easy way back to economic stability. Financial bail outs for Greece are vital yet they are self destructive. The way money is being handled in Europe lately is undermining its worth. We are now running a serious risk of devaluing our assets.
Today Greece has received more bad economic news. Firstly there are the unemployment figures. Greece has had record high levels of unemployment for some time now. If you thought these figures could not get worse then you were mistaken. In July 2012 the level of unemployment in Greece rose to 25.1% from 24.8% More than a quarter of the working age population of Greece have no job and few prospects for the foreseeable future. As we all know the devil makes work for idle hands and such high levels of unemployment will lead to trouble.
Here are some of the shocking statistics:
Reporting on these latest shocking figures some in the media have stated that more people in Germany want Greece to stay in the EU than want the country to leave. Perhaps more to the point should be what the Greek people want. They are being treat as the whipping nation of the EU and sooner or later they will have had enough. What have they got to lose from an exit?
Germany and other EU countries of course will have a lot to lose should Greece exit the Eurozone. The best bet would surely be scrapping the EU and starting again from scratch. Somethings break and are not able to be repaired. Fact. Sometimes it is time for a more modern model.
Rubbing salt into the debt wound of Greece Coca Cola Hellenic has announced today that it is moving its operations from Greece to Switzerland. CCH was Greece's largest bottling company and its exit from Greece will herald more job cuts. Some have claimed however that this will have a limited impact on the Greek economy. CCH have said that plants will still operate as normal in Greece and ot is more about the company and its tax burden.
It will however be another psychological blow to Greeks and their economy.