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Only a Few Greeks Are Happy With Their Life

greeks not happyAccording to a report from the Organization for Economic Cooperation and Development (OECD) on Well-Being, Greek households have been greatly affected by the economic crisis. The report that estimates the toll of the economic crisis was released to the public today.
The research indicates that a total of 11 criteria were used to measure well-being and Greece was above the average of the other 34 countries-members of the OECD in just three: health, balance between personal life and work, and personal security.
The below average criteria were: education and skills, income and wealth, taking part in public matters, jobs and wages, social connections, housing , subjective well-being and environmental quality.
The OECD report notes that Greece recorded a cumulative decline between 2007 and 2011, in real household income by 23%, which was the highest among the countries of the Organization.
The report mentions that the greatest impact of the crisis on the citizens’ well-being was the result of the decrease in employment and the difficulty in finding employment. The employment rate fell by 10% from 2007 to 2012, long-term unemployment increased by 10 percentage points.
The percentage of Greeks who are very satisfied with their lives decreased from 59% in 2007 to 34% in 2011, the lowest rate in the OECD.
During the crisis the confidence of the Greeks in the institutions and the way democracy works was reduced. The percentage of Greeks who trust the government declined from 38% to 13% between 2007 and 2012.
According to the Wall Street Journal, the OECD report found that the countries with the highest well-being rate are Switzerland, Scandinavian countries, Britain, Australia, Canada and New Zealand. Greece and Estonia are the only countries in the Eurozone with low well-being rate, along with Turkey, Brazil and Mexico.

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