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In Greek economy’s vicious cycle, workers lose most

In Greek economy’s vicious cycle, workers lose most
John Psaropoulos
May 28, 2018


Athens, Greece – Out of money and out of time, Alexandros Mnimatidis is a product of his generation. He cannot afford to attend the robotics degree programme he enrolled in because he also needs to work and contribute to his parents’ household budget.

But without that degree, it’ll be difficult for him to rise above the retail work he now does for $4.78 an hour.

“At the present rate,” he says, “it’ll take me another 10 years to graduate. I’ll be 35, and at that age, it’ll be really difficult to find a job in my area of expertise.”

If he fails to obtain a university education, Mnimatidis may eventually join the ranks of Greece’s working poor – people who cannot improve their socioeconomic position, no matter how hard they work.

During the eight-year depression that cost Greece a quarter of its economy, workers paid the highest price, absorbing much of the impact of economic reforms that raised Greek competitiveness.

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