Greece: youth unemployment reaches a grim record of 64.2%

Overall February unemployment at 27%, against 21.9% in 2012

09 May, 16:31

    May Day protests in central Athens May Day protests in central Athens

    (by Patrizio Nissirio) (ANSAmed) - ROME, MAY 9 - While Greek Finance Minister Yannis Stournaras assures that ''Greece is on the right path'' and that recovery and new jobs are just around the corner in 2014, data released today paints a grim picture of a crisis-ridden and unemployment-battered country teetering on the verge of social catastrophe. This is especially true for the 15-24 age bracket, where February unemployment reached a whopping 64.2%, up from 54.1% in the same period in 2012 - the highest rate since national statistics institute Elstat started compiling youth unemployment data in 2006.

    Overall unemployment reached 27% in February 2013, up from 21.9% in the same period last year, with 245,021 jobs lost (+22.8%) over February 2012 and 11,663 jobs lost since January 2013, according to Elstat.

    ''Greece is on the right path, but we still have a lot of work to do'', Stournaras told Net public TV. ''We wanted better results on the tax evasion front, but let's not forget that since we took office, over 250 people have gone to jail and two billion euros of real estate have been seized, bringing 400 million euros in cash into state coffers. But the hard part is still to come''.

    Going on to forecast economic recovery and a drop in unemployment in 2014, the minister also ruled out new austerity measures, as long as Greece respects its commitments to its international partners.

    ''If we enact promised reforms, we won't need new measures.

    They would be needed if we didn't respect the agreements we made'', Stournaras said. (ANSAmed).

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