HUFFINGTON POST / AP: …The jobless rate rose from 27 percent in April and 23.8 percent in May last year. Young people were by far the worst affected, with unemployment among job-seekers aged 15 to 24 standing at 64.9 percent.
Greece has been depending on funds from international rescue loans since May 2010, after years of profligate spending and fiscal mismanagement left it with a massive budget deficit.
In return, successive governments have imposed stringent austerity measures, including tax hikes and salary and pension cuts that have caused the economy to contract. The country is currently in the sixth year of a deep recession… (more)
EDITOR: Despite the outcries of most reputable economists, Germany and France insisted on the austerity for Greece, assuming that unemployment of much of the population somehow would lead to the fiscal strength to repay debt. MADNESS for Greece. Just as Republican benighted opposition to a ‘jobs bill’ has delayed our own recovery.
