Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Greek Unemployment Hits Record High

It's 26.8%, and much higher for younger workers

By the Associated Press

Posted Jan 10, 2013 1:58 PM CST

(AP) – Unemployment in Greece has climbed even higher, reaching 26.8% in October, according to figures released today, while another lawmaker abandoned the coalition government over a Swiss Bank account scandal. The Statistical Authority said unemployment increased from 26.2% in September 2012, and marked a significant jump from the 19.7% of October 2011. Young Greeks are the worst affected, with 56.6% of those aged between 15 and 24 out of work.

Meanwhile, Socialist lawmaker Christos Aidonis quit the seven-month-old coalition government today and declared himself an independent, protesting at the lack of action taken to investigate people on a list of Greeks with Swiss banks accounts for potential tax fraud. His action reduces the number of lawmakers backing the government in the 300-member parliament to 163, and means that continued support from all three parties in the coalition—the conservative New Democracy, Socialist PASOK, and Democratic Left—is now required to keep the government afloat.

A homeless man sits on an old sofa on a pedestrian street in the northern port city of Thessaloniki , Greece, Jan. 7, 2013.
A homeless man sits on an old sofa on a pedestrian street in the northern port city of Thessaloniki , Greece, Jan. 7, 2013.   (AP Photo/Nikolas Giakoumidis)
Construction workers install natural gas pipes in the northern port city of Thessaloniki, Greece, Jan. 9, 2013.
Construction workers install natural gas pipes in the northern port city of Thessaloniki, Greece, Jan. 9, 2013.   (Nikolas Giakoumidis)
« Prev« Prev | Next »Next » Slideshow
My TakeCLICK BELOW TO VOTE
26%
3%
44%
4%
13%
9%
To report an error on this story, notify our editors.
COMMENTS
Showing 3 of 18 comments
reallybig
Jan 10, 2013 6:29 PM CST
Geithner "solved" the Greek debt crisis the last time he advised the EU on how to solve the EU debt crisis. --- Geithner used the same method of him and Obama counting pennies from a jar, and after another 24 hours everybody gave up. --- The penny jar has been sealed for another Obama and moron to try to count them. -------- REALLY
guvner
Jan 10, 2013 3:46 PM CST
Right...as if the other 73.2% actually "work".
duxburian
Jan 10, 2013 3:34 PM CST
Another example of how right wing policies (in this case austerity) are harmful to a country.

Copyright 2013 Newser, LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

 

NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   BuzzFeed   |   Cracked   |   Timelines   |   POPSUGAR Tech   |   Business Insider   |   HuffPost Entertainment   |   NewsOne