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After 6 Years Of Austerity, 36% Of Greeks In Poverty

Tyler Durden's picture




 

Via KeepTalkingGreece.com,

Thousands of austerity measures, dramatic cuts in incomes, incredible hikes in taxes. Five and a half years in deep recession. Three bailout agreements. And where do Greeks stand now?

On top of the Eurozone when it comes to poverty. More than one out of three Greeks, that is “36% of the Greek population is at risk of poverty and social exclusion,” the EUROSTAT found out - the highest rate within the Euro Zone.

The EUROSTAT data were released on the occasion of International Day for the Eradication of Poverty which is ‘celebrated’ yearly on October 17th.

What means poverty? Not enough food on the table, no adequate warm home in winter, difficulties to cover basic needs and pay utilities and health care, just to name a few.

Oh and here is the Statistics we love: also the inability to afford to pay for one week annual holiday away from home.

According to European union “directives’ poor is an individual or a family with available income of less than 500 euro per month. It can be 480 euro or Zero Euro.

The detailed EUROSTAT poverty data for the entire EU is here.

The rate of Greeks at risk of poverty and social exclusion was at 30% and 33% in the last two years. No surprise, it increased.

*  *  *

Still with the economic "boom" we are told to expedct from the flood of refugees (and Germany's pressure  on the Greeks to take more refugees), we are sure this will all end well...

 

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Sat, 10/17/2015 - 12:17 | 6679361 JustObserving
JustObserving's picture

The US is not far behind.

Greek debt per taxpayer is $65,000

US debt per taxpayer is over $1,720,000 per Kotlikoff

US is Greece on steroids

Sat, 10/17/2015 - 12:18 | 6679367 BullyBearish
BullyBearish's picture

The "garchs" stole it all...here and there

Sat, 10/17/2015 - 14:32 | 6679638 COSMOS
COSMOS's picture

Dont worry the Germans will get there real soon.   Greece just keep passing those illegals through, revenge is sweet.

Sweden Is Close To Collapse

"Sweden is fast approaching a complete collapse. More and more municipalities are raising the alarm that if the migrants keep coming at this pace, the government can no longer guarantee normal service to its citizens. In addition, ominous statements from government officials have left Swedes in fear of what tomorrow may bring. If the migrant wave keeps coming, in 10-15 years, Swedes will be a minority in their own country."

This is a long article and worth reading at Gatestone institute dot org

This goes for every Western Nation. We are under siege.

The real war in this country is not between Democrats or Republicans, Liberals or Conservatives it is between Globalist and Nationalist on both sides of the aisle. When the People wake up to this fact the country will survive and flourish but only if it is done before the Traitors in Washington and the media toss our Constitution into the Congressional Lie Bury’s Dumpster.

"A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murderer is less to fear. The traitor is the plague."
Marcus Tullius Cicero
Roman Statesman, Philosopher and Orator
Attributed. 58 BC, Speech in the Roman Senate

Sat, 10/17/2015 - 16:40 | 6680001 crashguru
crashguru's picture

The traitor is the plague

Agreed, that would be the last 5 Greek presidents.

Sat, 10/17/2015 - 20:35 | 6680644 Thick Willy
Thick Willy's picture

Stop feeding, clothing, housing, watering, and providing medical care for the Africans in Sweden and they will ALL freeze to death in the first winter.  It's that easy.

All the whites in Sweden just go on vacation for 8 months of winter.  Come back in June and reinhabit their native lands.

Literally that easy.

Sat, 10/17/2015 - 12:19 | 6679370 Fahque Imuhnutjahb
Fahque Imuhnutjahb's picture

If Greece just hangs in there, I'm sure there'll be a Golden Dawn.

Sat, 10/17/2015 - 12:23 | 6679379 JustObserving
JustObserving's picture

More like a Golden shower - the oligarchs pissing on the poor

Economist Tells Congress: U.S. May Be in ‘Worse Fiscal Shape’ Than Greece

The U.S. has a $210 trillion “fiscal gap” and “may well be in worse fiscal shape than any developed country, including Greece,” Boston University economist Laurence Kotlikoff told members of the Senate Budget Committee in written and oral testimony on Feb. 25.

“The first point I want to get across is that our nation is broke,” Kotlikoff testified. “Our nation’s broke, and it’s not broke in 75 years or 50 years or 25 years or 10 years. It’s broke today.

http://cnsnews.com/news/article/barbara-hollingsworth/economist-tells-co...

Sat, 10/17/2015 - 12:29 | 6679398 Fahque Imuhnutjahb
Fahque Imuhnutjahb's picture

 

http://www.theguardian.com/commentisfree/2015/sep/21/eu-refugee-crisis-g...

 

Subject a people to depredations , compounded by forced acceptance of foreigners, and your brewing a recipe for genocidal

rage.  These "policy makers" seem to be intentionally pushing everything to the brink.  I can only conclude that they are

perpetuating disaster in order to implement some NWO agenda, or financially capitalize, but most likely both.

Sat, 10/17/2015 - 12:38 | 6679421 TBT or not TBT
TBT or not TBT's picture

The Greek FSA voted for free stuff and easy times.   The Gods of The Copybook Headings, bitchez.   

Sat, 10/17/2015 - 12:51 | 6679454 Fahque Imuhnutjahb
Fahque Imuhnutjahb's picture

 

 

That is true.  But , conveniently, the Greek oligarchs made out well, as did many Western multi-nationals.

http://www.truth-out.org/news/item/26112-an-economic-hit-man-speaks-out-...

I'm not suggesting that the common folk in Greece should be considered blameless, far from it, but an objective perspective

of what took place there is needed.  The oligarchs want us to blame each other for their avaristic financial engineering.

Like here in the states.  The whole "Ownership Society" meme was just a pretense for an orchestrated take down of the pension funds.

Just Kabuki theatre for a huge transfer of wealth from the lower classes up.

Sat, 10/17/2015 - 13:07 | 6679494 TBT or not TBT
TBT or not TBT's picture

You think the Community Reinvestment Act and later Fannie and Freddies pumping up the bad debt bubblelicious prices was an oligarch scam more so than a it was a Democrat do-gooding unintended consequences clusterfuck?   I think the black congressional conference was a sincere pack of true believers, and they provided the immovable block that kept it going.   Frank and Dodd, of course, could be imagined to have been two faced, but there was huge support from FSA representatives.  

Sat, 10/17/2015 - 13:24 | 6679542 Money Counterfeiter
Money Counterfeiter's picture

When will these lazy fucks shut up and work?

Sat, 10/17/2015 - 13:28 | 6679551 Fahque Imuhnutjahb
Fahque Imuhnutjahb's picture

 

 

I think the people who actually pull the levers of power, who are apolitical in all things other than finance, used these programs

to co opt a system of mortgage bundlers, investment banks, rating agencies, regulatory agencies, and starry eyed muppets to:

1. rob the pension funds across the nation, 2. perpetuate a taxpayer subsidized bailout of themselves, 3. use those proceeds to

buy up the very assets they set up for the muppets to default on, 4.  sell back those assets to the very taxpayers who gave them

the money to buy up the distressed assets, and at a handsome profit.  The only analogy that comes to mind, crass though it maybe,

is being forcibly sodomized, then being punched in the face for getting them dirty, and being ordered to fellate them clean.

 

Sat, 10/17/2015 - 15:37 | 6679872 TBT or not TBT
TBT or not TBT's picture

So a tiny number of evil bastards used 300 miilion purely innocent victims.  They just borrowed the money and bought the assets and voted in demagogues, which was all to the greatest good. 

Sat, 10/17/2015 - 16:39 | 6680000 Fahque Imuhnutjahb
Fahque Imuhnutjahb's picture

 

 

Something like that.  A tiny number of evil bastards co opted starry-eyed do gooders'

social programs to greatly enrich themselves by subverting the system to their desires. 

Sat, 10/17/2015 - 18:00 | 6680256 TBT or not TBT
TBT or not TBT's picture

Was Michael Burry one of these?  He figured out the debt should be bet against.  Did not create it. 

Sat, 10/17/2015 - 22:46 | 6680916 Fahque Imuhnutjahb
Fahque Imuhnutjahb's picture

 

 

Not familiar with him.  But John Paulson collaborated with the Squid to construct Abucus as a muppet fleecing

vehicle.  He made money pawning trash off on pension funds, then made cash off of the credit default swap

bets he made against his own creation.  But at least he works for his money.

Sat, 10/17/2015 - 12:40 | 6679427 shovelhead
shovelhead's picture

There's that ubiquitous 'genocidal' again.

What race are we wiping out this time?

Sat, 10/17/2015 - 12:59 | 6679471 Fahque Imuhnutjahb
Fahque Imuhnutjahb's picture

 

 

I'm figuring the economic pie in Greece isn't large enough for it's own people, much less scores of refugees of a

differing culture, religion, language, etc...  In my mind this is setting the stage for (Group A killing Group B).

I used genocidal to replace what is in parentheses above.  Nothing more, nothing less.

Sat, 10/17/2015 - 12:59 | 6679478 Mr. Frosty
Mr. Frosty's picture

The ones invading

Sat, 10/17/2015 - 13:20 | 6679522 The Greek horse
The Greek horse's picture

Exactly Fahque! i have been saying that to my family who lives in Greece for a LOOOONG time now.. Keep posting you are smart.. They have to wake up and Golden dawn is like Mr. Putin does NOT take shit from any Banksters!! 

Sat, 10/17/2015 - 13:21 | 6679531 Money Counterfeiter
Money Counterfeiter's picture

More welfare needed!  Print more money!

Sat, 10/17/2015 - 12:21 | 6679377 algol_dog
algol_dog's picture

Don't they have EBT cards?

Sat, 10/17/2015 - 12:21 | 6679376 Anopheles
Anopheles's picture

The Greeks have gotten exactly what they voted for the last couple decades. 

 

 

Sat, 10/17/2015 - 13:01 | 6679483 Bay of Pigs
Bay of Pigs's picture

Yet you're the guy who blast people for owning gold. How do you think the average Greek living in poverty now would have felt about hedging some fiat for physical gold over the last ten or fifteen years?

Your name fits you in Greek, "useless".

https://en.wikipedia.org/wiki/Anopheles

Sat, 10/17/2015 - 12:23 | 6679381 TuPhat
TuPhat's picture

So what is the point?  The greek government should spend more money on social programs?  That's what caused all this in the first place.  There will be many more tears and hardships in Greece and the rest of Europe.  Then it will come to the US as well.  They ate too many free lunches and now it's time to pay up.  It will be worse in the US because when the gravy train grinds to a halt there will be a lot of violence.  Old people like me aren't likely to make it through the mess but I hope I can help my grandkids.

Sat, 10/17/2015 - 12:42 | 6679432 HenryHall
HenryHall's picture

No, what caused it in the first place was criminals who worked with Goldman Sachs to cook the books and borrow zillions to place in unsound "investments" that they could rake huge profits from and then disappear with the loot. Much money wasted so they could line their pockets dishonestly and leave the people with the bill.

Not so very different from wars that profit only the banksters and the armament menufacturers. Lenin had the solution to that.

Sat, 10/17/2015 - 13:17 | 6679521 TBT or not TBT
TBT or not TBT's picture

Greek FSA politicians indeed contracted with a private bank to fake their way into the Euro.  They wanted those low interest rates so they could borrow more to buy up FSA and public sector worker/pensioner votes with.   They got what they wanted.  

Sat, 10/17/2015 - 12:26 | 6679390 Jstanley011
Jstanley011's picture

Why does ZH use the socialistic buzz word "austerity"? What we're talking about, literally, is that the people of Greece have been forced to live within their means. And as a result, they're poor.

Well, necessity is the mother of invention so get to work. Or go die in a ditch. Either way, so what?

The same applies to the United Zombie Land of Soviet Socialist Republics, formerly known as the United States. When Mr. Market forces bankruptcy here, it's going to be epic on a worldwide scale. And not in a good way.

Sat, 10/17/2015 - 13:30 | 6679423 Fahque Imuhnutjahb
Fahque Imuhnutjahb's picture

 

 

Considering how here in the States some are more equal than others, I have a feeling the bankruptcies won't be

meted out proportionally, much like in '08.  There are chosen winners and inconsequential losers.  Much the same

in Greece.  The oligarchs cut deals with the World Bank, IMF, and Goldman, thereby feathering their nests; all the while

dodging their share of the taxes, leaving those to the plebes, and in so doing, they shit in the plebes' nests.

Sat, 10/17/2015 - 13:45 | 6679595 tmosley
tmosley's picture

That is true in a vacuum, but in this case, they are also having their wealth redistributed away via ECB money printing. The capital that should be paying salaries is instead being shifted into financial assets held by bankers and old people.  You can see that in the figures, where only 21% of elderly Greeks are in poverty, not what you would expect of a collapsing society. Normally it is the young that survive, and the old who wither and die.

Sat, 10/17/2015 - 16:46 | 6680014 Fahque Imuhnutjahb
Fahque Imuhnutjahb's picture

Those old folks may not be setting pretty if Schauble and Co. decide they need some recompense.

Sat, 10/17/2015 - 12:31 | 6679405 shovelhead
shovelhead's picture

Social exclusion?

"You so po dat dog won't even play wit you."

Sat, 10/17/2015 - 18:15 | 6680293 Oldrepublic
Oldrepublic's picture

The term social exclusion is used by the welfare bureaucracy in Europe.

Sat, 10/17/2015 - 12:32 | 6679411 SDShack
SDShack's picture

I've said for years, the intent is to create the New Feudal World Order. Everyday we see articles showing it being implemented piece by piece.

Sat, 10/17/2015 - 12:51 | 6679453 Teh Finn
Teh Finn's picture

Clearly they need to confiscate,by threat of mortal force, more from the haves to keep some for themselves, then distribute more than a pittance to the "poor."

Sat, 10/17/2015 - 13:20 | 6679528 Infinite QE
Infinite QE's picture

Our mission is not complete until ALL goyim in Greece are in poverty and serving us as their masters as we buy their assets for pennies.

- Elders of Zion

Sat, 10/17/2015 - 13:20 | 6679529 surf0766
surf0766's picture

After 50 years of socialism the country is finally seeing the end result.

 

 

Sat, 10/17/2015 - 13:26 | 6679546 yogibear
yogibear's picture

Banksters are rich though.

Sat, 10/17/2015 - 13:27 | 6679550 schatzi
schatzi's picture

Since when is spending way more than the state gains as taxes, being called austere? The Greeks are still running large deficits. Same as in the UK and their so-called austerity programme which is run on an impressive budget deficit. Got to wonder what they'd call a balanced budget? The great famine?

Sat, 10/17/2015 - 13:38 | 6679578 MoonSun
MoonSun's picture

In spite of all those problems, austerity is a necessary evil.

A deleveraging economy always resolves in the end with all or any of the following: austerity, currency devaluation (savings confiscation) or by increasing productivity. There is no other way out.

Sat, 10/17/2015 - 13:46 | 6679597 GernB
GernB's picture

Prosperity is more directly related to production. Scarcity is the result of not producing enough. Abundance and cheap goods the result of producing a lot. Austerity just cuts back demand to meet low levels of production. If you want prosperity you really need more people producing things people really need or want. Chronic high employment and early retirement ages are as much the problem as not being austere enough.

Sat, 10/17/2015 - 17:24 | 6680098 Tursas
Tursas's picture

There is nothing to confiscate when there are no savings! Just get out from Euro and U will prosper!

Sat, 10/17/2015 - 14:05 | 6679639 Joebloinvestor
Joebloinvestor's picture

The EU can kiss off any economic recovery.

Sat, 10/17/2015 - 14:57 | 6679770 madjakk
madjakk's picture

""Thousands of austerity measures, dramatic cuts in incomes, incredible hikes in taxes. Five and a half years in deep recession. Three bailout agreements. And where do Greeks stand now?""

 

They stand with a HUGE cognitive dissonant, incoherent belief that allows them to believe that they can stay in the Eurozone AND not have to pay back their EU creditors despite their having spent an INSANE amount of "other peoples money" to sustain their lifestyles and government largesse over the years.

Gee.....can you say EPIC KEYNESIAN FAIL?...boy and girls?

Sat, 10/17/2015 - 15:09 | 6679793 Peterus
Peterus's picture

After 30 year of unrestrained pillage Greece was put into extremely high debt. By that time nearly half of it's population was dependant on hand-outs or public "jobs" - deep into servitude. When the pork starts to run out - it's going to be trouble. 6 years of mediocre austerity is not nearly enough. They need a reset (destroy current structures, rebuild healthy). But they can't reset with all those dependant parasite-people. So they will do half-assed measures, repeal half-assed measures, etc until collapse.

Sat, 10/17/2015 - 17:22 | 6680095 Tursas
Tursas's picture

Its time for pitch forks!

Sat, 10/17/2015 - 16:37 | 6679994 giggler321
giggler321's picture

EUROSTAT => UK, no data - come on are we in or out?

Sat, 10/17/2015 - 17:20 | 6680094 Tursas
Tursas's picture

Skould get/be out if U are smart!

Sat, 10/17/2015 - 17:42 | 6680201 silent one
silent one's picture

Slavery IS the objective of Austerity

Sat, 10/17/2015 - 19:38 | 6680506 Justin Case
Justin Case's picture

As Bush would say "Mission Accomplished"

Sat, 10/17/2015 - 21:28 | 6680770 Lookout Mountain
Lookout Mountain's picture

Ain't seen nuttin yet. Give the bankers a few more years of extractions.

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