November 22, 2012

Greece Needs Growth, Not Austerity

Meghir, Bloomberg

AP Photo

Greece’s economy and society are imploding.

Gross domestic product has declined more than 20 percent since 2008. The unemployment rate has tripled, and now stands at 25 percent, with joblessness among youth at twice that level. Crime is on the rise, as are racist incidents, and ideologies of the extreme right and left are gaining significant support.

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TAGGED: Eurozone, Greece

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