Greek Unemployment Hits Record High
It's 26.8%, and much higher for younger workers
By Newser Editors and Wire Services
Posted Jan 10, 2013 1:58 PM CST
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)

(Newser) – 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.

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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".
$2963277
Jan 10, 2013 3:34 PM CST
Another example of how right wing policies (in this case austerity) are harmful to a country.