Greece’s main private sector workers union GSEE said in a report on Sept. 5 that three years of austerity measures have cost its members 37 billion euros ($48.5 billion) euros and will push a record unemployment rate of 27.6 percent to 31.5 percent.
The estimate includes pay cuts and tax hikes imposed by the government on the orders of international lenders to write down the country’s staggering $390 billion debt.
The report claimed austerity has been a flat-out failure although the government said by squeezing workers it’s getting closer to economic stability and recovery. GSEE said the Greek welfare state is being turned into a charity state and called for the reduced minimum wage to be increased again.
See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!
