What a Depression looks like (Greek style)

Greek Economic Riot - Photo by Ggia

The country’s GDP has shrunk by 25% in six years. Unemployment skyrocketed from 10% in 2010 to 25% in March. The young are hit the worst, with one in two under the age of 25 without a job.

For many, leaving the country seems to be the only option — 3% of the population has left since 2010.

Those who are lucky enough to still have a job have seen their salaries slashed. Greece has experienced the largest fall in real wages across developed countries since 2008.

These conditions have brought many businesses to their knees. Nearly 60 companies have closed each day this year. The historical center of Athens is now full of abandoned shops.

(Read the rest of the story here…)

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