The jobs to be lost concern 60,000 employers and 100,000 employees in the sector, ESEE expects. Given the data for a 6.2 percent fall in household consumption in 2011 and the Eurostat forecast for a further decline by 4.3 percent this year, ESEE warns that soon Greece will be in a condition of absolute poverty.
With 60,000 enterprises having shut down since the start of the crisis to date, their number is set to double by the end of this year, ESEE estimates.
Sixty thousand Greek shops are expected close this year because of the crisis. Think of it. And: “soon Greece will be in a condition of absolute poverty.”
Andrew Stuttaford, citing the Financial Times, quotes Greek political leaders warning that the country faces social unrest of the sort Europe hasn’t seen in decades.