Soaring inflation is hitting living standards across the developed world.
And it is largely being driven by a rise in energy prices.
In Greece, electricity prices alone trebled last year, and the government is spending more than $2bn subsidising energy costs for households, businesses and farmers. But some people still have to choose between eating and paying their power bills.
Greek incomes were battered by an eight-year depression following the 2008 global financial crisis and they still have not recovered.
Al Jazeera’s John Psaropoulos reports from Athens.
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#Greece #GreeceInflation #GreeceEconomy
Awesome 👍
First 🥇,… Hiper inflation is worldwide.
Now this is a debt trap country😂😂😂 This country will NEVER pay off it’s debt.. Shouldn’t even be a country
Η χειραγώγηση των μετοχών στην αγορά ενέργειας θα βγάλει όλους τους φτωχούς Ευρωπαίους στο δρόμο, αυτός είναι ο στόχος της ΕΕ
les manipulations boursière sur le marché de l’énergie mettra tous les européens pauvres a la rue , c’est l’objectif de L’UE
imagane this country withour eu they become like africa hahahahha TRTRTR
@Lumièrd nope moron who want to live geece just go athens looks like indian city full dirty
@Lumièrd I’m from a small Northern European country u can only pay these wages and pensions because of the 3 bailouts and the ECB bond buying programme of the 19 countries that use the Euro currency only 1 Greece hasn’t reached investment grade after 15 years and 3 bailouts and a youth unemployment in Greece of 47.8% and 1 million Greeks gone many fir life to the US Australia Canada UK Germany Netherlands Austria Denmark Sweden etc Greece spends 18% of its GDP on pensions the EU average is around 4% Greece 26 billion euros of exports 46 billion of imports every year a balance of payments deficit of 20 billion euros a year, 40 years of EU membership and 20 years of Euro currency membership this is what u have elections next year more handouts more government public sector jobs equals votes borrowed money, tax cuts everywhere Enfia Property tax cut ,income tax cut VAT cut and corporation tax cut coming up next year before the elections but not spending cuts in fact spending increase on defence metro rail tunnels in Athens and Thessaloniki,an undersea road tunnel(no costings) with a 200% debt GDP ratio tell me why Greece should be allowed to remain in the Euro currency ?u can stay in the EU and NATO but not the EURO CURRENCY u can leave temporarily then rejoin 10 years later after u regained ur competitiveness and done the institutional reforms then u can rejoin at EMU2 and all ur debts will be written off all of them and u can stay in the EU and the EU will show solidarity by giving u Greece a 90% discount on imported fuel and medicines until u get back on ur feet which u will within 2 or 3 years fully sounds good to me ur not like Argentina Ukraine and Turkey who are not in the EU or Euro ,Greece will remain an EU member state but in the New Drachma devalued by 30 to 50% and all the debt written off Greece will boom Tourism Agriculture Shipping and Manufacturing Greek products and the real estate sector will all boom and foreign investors will pour their money into Greece as everything will be cheaper and Greece has a large diaspora round the world they will return with their money and invest in everything not just Tourismand I would even give Greece a permanent seat at the ECB in Frankfurt what’s not to like Tourism will go from 30 million tourists to 100 million tourists in the summer time and Greeks will stop buying expensive imports and will buy Greek products including agricultural products and farmers will boom
Why you Turks have so much hate for the Greeks?
@Konstantinos Chrysomallis I’m not Turkish I’m from Northern Europe no Turkish family I dont care about Turkey nor Greve read my comments again corrupt nation New Drachma get it ?
@Woo Hoo Ha Ha TURKISH TROLL…
But Greeks invented inflation and electricity…
It’s stll the beginning.,.
Thanks EU for your policy to stop the Greek lignite and alienate Russia and the cheap gas…bunch of incompetent white collars. Plus the Greek nat gas south of Crete is forcefully disputed by Turkey while EU whistles indifferently. This nat gas resource could provide for Greece and the rest of EU but EU commision bent to Erdogan.
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Biden did that
Sad fact is, its pretty obvious we are headed for hyperinflation. I think stores better have tight security because when people can’t afford to feed their families, things might get ugly.
My local supermarket have started selling their meat joints and steaks in hard plastic security tagged casings here……l kid you not. These are dicey times we live in.
Sad 🥺
Small stores wont be able to afford security and big stores better have a whole team of security per store or else it is going to be just waste of money.
@Mitchel Good for you.
This next 20 years is gonna be really really ugly.
The wife and I retired and we will have an extra 20 K a year for fun spending and giving away to starving dogs and people.
But if it gets to Hyperinflation we will dump the expensive house for cheap rentals in our north community of Elliot Lake Canada and have a big nest egg for fun and food.
@Robstark Unfortunately, you have to have money to begin with to invest in these things. What is there for those who have no disposable income to speak of?
Wow. Those Greeks have been through a lot, more than a lot of the rest of us. They deserve much better. Many well wishes for them and their families. 😁
No they are bums
To us who push life without rich parents 💔 no strong background May God provide for us
God only cares about the rich and powerful
@Desdicado Dog Greece is a corrupt parasite nation freeloading off 18 other eurozone countries they need to reform aggressively in the euro currency or leave it
Dear Greeks, dont worry, we going to join your club, already in progress, from Malaysia.
Malaysia is a paradise compared to the Corrupt Zorbas 🤭
But isn’t Malaysia is doing quite well
@Woo Hoo Ha Ha Malaysia is Corrupt too idiot, look up the corrupt index!
The government is subsidizing energy costs? They pull the money from citizens to do that, don’t they?
Yes. It’s all a sick joke. Wait for the central bank digital currencies where the 1984 government will then exist in real life
They can print money to do that, which is what causes the inflation
It will get worse before it gets better.
Prepare yourself. Prepare your family. End unfettered immigration. Blame the globalists.
Why not get solar is that not viable there?
Putin put Europe on notice, no gas for you!
Smart man, taking care of his own country first
Why should Russia give gas to Europe?
They will become economically strong and build more military to attack Russia
No gas for Europe
Greeting to Greece from Russia 🇷🇺🇬🇷
They can join the Russian Rouble we Eurozone members have had enough
We don’t need your greetings; your ‘president’ is about to start a World War in Ukraine.
I live in Greece. The prices here are out of control, especially Petrol, Diesel, Natural Gas, and Electricity doubling and tripling. The high fuel prices lead to increased prices in all products in the supply chain because diesel is used to run the trucks and ships.
The government is stubborn not to decrease taxes on fuel, not even a cent, making the fuel prices here the 5th most expensive in the EU while the average Greek is earning around 1000 eur per month.
Government officials are saying that poor people do not have cars, and therefore, they don’t want to help the ‘rich’ who own a car, even though a used car can be bought for 2k or less.
@globe trotter Eventually yes, now traveling only on foot and for food: pasta, milk and onions. Like the ancient folks. Maybe spare the apartment and find a decent cave for shelter.
@Giorg189 this is a worldwide problem. It’s the same in my country. I no longer go out of the house if unecessary since gas is so expensive and only eat once a day because the prices of meat and vegetables are so expensive in my country. Great for losing weight as well. Maybe this is what the govt wants… To solve the obesity epidemic. 🤦
Same in America
In California prices are really high
here in Australia the Price of Petrol has also gone up. Much of the costs are taxes.
I thought a country can burrow and print currency to prosperity, whats this inflation?
Why doesn’t Hindus give them money since they support them so much.
Because Greece isn’t Muslim country but if it was it was gonna be a big enemy for the hindustan
@Abdulmalik issah wat, why would hindus give a muslim country money lol gibberish
@Jacob Lee you don’t understand plz read carefully
Already here or coming to the United States soon… as planned. 💉🐑🤑☠🤡
Tell them they living in Marxist prosperity zone ! Don’t complain..
“The Greek Miracle” seems like a distant mirage.
Mirage 2000s with cheap borrowed money from the international banks backed by the boyz from Goldman Sachs😂
Freedom week starts February 21st
A call to world citizens to take a week off work against all mandates, social segregation, vaxports, and WEF.
Time to become vegan. Get Food from the forest
Sell everything to China.
Do not like sleeping lest you get impoverished;
keep your eyes open, and you will have plenty of bread.
Greek should exploit its own Gas in Egean Sea and sell a lil part with High Prices to Turkey 😂
Unfortunately, there’s no gas or oil in Greek seas 😪, at least not yet proven to exist any amount.
@Giorg189 then you are clearly not aware of the latest seismic surveys done in last couple of years ,🤭
what happened to free energy ?
.. global electric grid telecom corporations don’t want it .. it’s best tool to control masses & eliminate poor
Nothing in life is free. It’s only borrowed temporarily
if greeks struggle imagine what arabs in mieddle east must goin throught But you wont show this to us ofc
@Razaq Razaq Qatar is a small peninsulla. Doesnt represent the whole mieddle east.
@Razaq Razaq and check how much is the avarage greek salary.
@Sacred Squadron stfu nobody is happy about the situation stop bringing up other countries this about Greece 😒
lmao dude what are you talking about
al jazeera especially talks about economic difficulties in the middle east. stop with your diva complex
@zinf You should stfu, we are 1st world european country we have nothing to do with Mieddle East.
Dont compare us with them.
If you want to make propaganda look at the rest of the balkans.
Lunatic brainwashed clown,
You try to compare a country with 1500 euro MONTHLY salary to your trash contintrent.
Go look your own selfs, and if you believe that Greece is like that then do come to Greece. Much better.
There so much more trash economies in Europe but you chose to report on Greece? yes because you are fake 2015 propaganda
It’s all Biden’s fault. If he hadn’t shut down American economy America would have been growing food instead we’re in lockdown and people are going to starve all over the world. He knows what he’s doing he’s trying to depopulate the planet. That’s why he gives money to Planned Parenthood Eugenics Corporation killing 300 baby’s daily
Thank you all for your support
Love from Greece 🇬🇷
New Drachma devalued by 30 to 50% and write off all Greek debt and u Greeks can remain in the EU as a member state there is ur solidarity
Love Turkey
@Salahudeen Turkey cheaper
@Salahudeen turgay
Welcome to the great reset these banskers /elites like Klaus Swab said you will own nothing and be happy, but yet these elites laugh at you and yours,
Our governments did this worldwide
Only Zorbas in the Eurozone forget about the world
The Greeks have been living on borrowed money for years , reality and the bill has now arrived !
2 Timothy 3:1 But mark this: there will be terrible times in the last days. Lord Jesus Christ is coming soon 🙏🏼❤️🕊Repent, believe in the Gospel, Be Born Again
Qatar very bad county low skilles workers one month salary 300 dollar only .especially asian workers, poor salary under 250 dollar month poor human rights
Remember- the pandemic is the sole cause of hyperinflation. It isn’t anyone’s fault except for Donald Trump.
Wait till the end of the year… Massive recession on the way! It’s the government fault for printing so much money! Invest in gold, silver and bitcoin. Hedge against inflation
Maybe if Germany’s wasn’t tryna force us to take in migrants and steal our money
My heart goes out to these people 🌎🥺🌸
Typical commie they are bums and overweight
acttualy if u live in 1 room with ur parents and pay 100$ rent cause of house or appartment , u can still live with 400$ 3 ppl , is this a joke?
1000 euros pension a month I’m from a Northern EU country of 5 million people the welfare rates are 200 euros a week 800 a month our Debt to GDP ratio is 58% Greeces 200% Unemployment in my country 5% youth Unemployment 12% Greece unemployment 14%(should be higher due to ECB buying their bonds and the 3 bailouts and massive internal consumption massive imports double the amount then they export every year this is not sustainable) 52% of Greeces entire population live on a single monthly pension,pension spending in Greece is 18% of GDP the EU average is 4% more public sector workers to be hired in the next 18 months elections coming up in Greece next year off course 🙄the usual stuff 🙄 anyway the Metro continues to be built in Athens (no cost benefit analysis with borrowed money) plus the new Metro Line in Thessaloniki (borrowed money) Metro Line 4 in Athens makes no difference to this woman and her mother nor would it to me if i was 1 of the 1 million Greeks who have left in the last 10 years of 1 of the 47% of Youth Unemployed and working in the black economy even with a University Degree ,Greece has no minister for public expenditure and reform,no ministry for public expenditure and reform and no public spending code for large infrastructure projects in my country any infrastructure project over 100 million euros must have a cost benefit analysis done on it and pass through a number of qualifications before it gets the go ahead ,Greek people owe 110 billion euros in tax arrears to their finance ministry that’s half of Greeces entire GDP and more the entire GDP of some EU member states like Croatia with its entire GDP of only 60 billion euros a year ,show some honesty in ur Daily lives ur politicians and parties (all of them)wont help u,I cant wait for interest rates to rise in the next 5 years in the eurozone starting next year go on NEW DEMOCRACY election next year loads of goodies to be handed out for votes tax cuts spending increases right across the board once the election is over there will be no more goodies until the next election 🤭
A Qatar based channel with special relationships with turkey, tries to slander the image of Greece. Whatever it happens, they are our problems not yours especially when it happens for political reasons.
Well the reporter is Greek well Greek family reform Greece or New Drachma North European taxpayer here
The great reset
More reason to cut parliaments in half and pay the remaining half, half.
Politician’s are a waste of money and never feel the economic pinch. Despite their eloquence, inflation, crime, war, drugs and theft fron state coffers, continues unabated
They speak for themselves and look after themselves in all countries around the world, with very few exceptions
They are unapproachable, condescending, flock thinkers, socialites, many are alcoholics, many are unsuitably qualified, or without any education and when they leave their post, they are unemployable
Down and out and away with politicians
I think it’ll depend on the county and position. Higher government/politician salaries are correlated with less bribery in a country.
I don’t want to pay them more either, but paying them less pushes them towards corruption.
@Jacob Lee if you give them a high salaries, they live beyond their means and steal anyway
Because we see this all the time, pay them half…because they’re going to steal anyway
And if you cut their numbers in half, you will automatically reduce the theft volume by 50%.
With fewer politicians, you can also monitor them more effectively
When one politician does the work of two people, their productivity level will increase or they will lose their job
You can pay 1/4 of their would be salary when they step down, based on sheer performance. With the last quarter 5 years aftee they have stepped down just in case something nasty reveals itself after they’ve stepped down
This measure will also keep them on their toes
Preppers
New Drachma devalued by 50% get out the printing presses asap and I mean literally Opa Opa
Hayat Tahrir Al Sham equals Al Jazeera equals Qatar equals give Greece a loan ,Greeks: Its a loan Its a loan Its a loan 🤭 no repayment dont worry equals more mosques
Fight Back before it is too late!
Greece: the bankrupt country – and we all know who owns Greece – but we are not allowed to speak their names since it is forbidden by YouTube… sapienti sat.
And yet they fine pensioners €100 every month for not being vaccinated.
No paying your utilities. Your BF told you to.
I thought only Turks suffer from inflation
All counties do you idiot!
Nice they share I helped my mum before she died, in UK we have some free community centres can drop in for free drink, eat not sure if have it in Greece, you may have friends in UK, problem here food, electricity, gas, petrol risen a lot
Electricity price up. Price of solar panels not much changed.
No one in Greece to work the number?
The government has thought about that, they tax very heavily the energy a private person can produce with solar. You need 20 years just to break even.
@Giorg189 indeed a strange Government. Instead of encouraging its citizens to invest into a sector that obviously required investment the Government is strangling private sector initiative by heavy taxes.
dangerous
Turkey, US and now in Greece?!
God save these people.
Hope this inflation ends.
Pillow over the face Job that will help with the inflation 😂 speaking of inflation the money saved will help her to deflate her neck and waist 😂 OPA OPA
It’s everywhere. Even here in Australia, Petrol costs are High, Energy costs are high. I just make ends meet!
So situation of Greece and Turkey is almost same
Turkey is way worse!
Democracy is wrong … People need to get back to the education … And then think about voting… Or stop democracy… Governments are living like kings and queens under the name of democracy because people are too busy and illiterate to notice the mistakes … Prepare for communism , a natural reaction of humanity (mainly low classes) to solve hunger problems…
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Thanks to the Green energy!
Im from Greece and Its sad. Many elderly people are forced to steal food from supermarkets. And many other people cant pay electricity bills
Right so what do u expect the other 18 Eurozone countries to do for Greece?just tell us what we can do for you?honestly we are almost 15 years on from the 2008 financial crisis,how does the new Metro line 4 in Athens help this woman and her mother?Metro Line 1 is going to moved from overground(which it currently is) to underground why?is it necessary?another few billion wasted yeah,Greece loses 6 billion euros every year from VAT evasion(Sales Tax evasion) imagine what do could do for this woman (she doesn’t have a mortgage) she owns her own property in in Northern European I have a mortgage kids to feed we have a family budget we must live within our means as a family and country itself (6 billion Euros of that VAT is spent across the border in Bulgaria and in Turkey (Edirne) why? Bulgaria and Turkey have their own currencies and they are cheaper then Greece and less taxed,now if u Greeks want lower property taxes lower income tax lower sales tax and lower corporation tax u Greeks will have to offset all those tax cuts with spending cuts (Pensions and Public Sector jobs and salaries) because u cannot borrow more money or use the bailout money or the ECB printing press to pay for it do u understand ?there is an election coming in Greece next year more handouts and massive tax cuts and spending increases in return for votes all political parties do it in Greece at reelection time ALL PARTIES the only solution is the New Drachma devalued by 30 to 50%
How can Greece have an inflation?
It uses the Euro as it’s currency, which means that all European countries are facing inflation, its not Greece alone
The black horse of the apocalypse is still riding
Come to a city near you. The great reset is what these globalist want.
Unfortunately we have the worst government in Europe. Inflation hit 25 year record high. Many people struggle afford food, pay their bills
one day, Greece will rise again!
Nuclear is the answer
Bottom-line is that inflation is actually above 10% whilst interest rates is sub 2%. Cash is still trash.
You need to invest in order to protect your hard-earned funds from inflation. You need to invest now because your money is more valuable today than it will be in a year.
The time value of money means today $10,000 is worth more than it will be in the future. Investing in the stock market is the surest way of protecting your money from inflation and the best way to build wealth. The U.S stock market is the world’s biggest wealth creator which always outperforms most economic realities in the long term.
Don’t attempt to time the market. Focus on every use case behind a token. Consult with a knowledgeable Investment-Adviser who knows the intricacies of the market most especially if you are a newbie to avoid getting burnt. Continuous ROI is better than 40% pump in one day and 90% dump the next week. I still think cryptocurrency is a tool that hedges over inflation. Marissa Saponare is an adviser i have worked with for years, you can look her up
thank you helen, i found Marissa’s page
🙏🏻
The plandemic in action