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Old 11-08-2013, 18:33   #1 (permalink) Top
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Post Greece becoming new Kosovo as youth jobless hits 65%....

By Ambrose Evans-Pritchard

Greek youth unemployment has soared to a record 64.9pc as the country’s downward spiral continues almost unchecked.

The spirit of the Greek people has been broken. They’ve stopped demonstrating and are licking their wounds at home or leaving the country.”

Latest data from the Greek statistics agency showed the overall jobless rate rose to 27.6pc in May, despite a mass exodus of the best-educated young workers to the US, Australia, Britain and Germany.

The figure is likely to rise further as Athens lays off 15,000 public sector workers by the end of next month to comply with European Union-International Monetary Fund (EU-IMF) Troika demands.

“The manic attempt to keep Greece in the eurozone under conditions that are not sustainable is turning the country into a sort of Kosovo, an EU protectorate that produces little but surplus labour,”
said Prof Varoufakis.

EU economics chief Olli Rehn said Greek austerity was “difficult but necessary”, and should bear fruit in 2014.

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