The Hellenic Radio (ERA): News in English, 08-07-06

The Hellenic Radio (ERA): News in English Directory - Previous Article - Next Article

From: The Hellenic Radio (ERA) <www.ert.gr/>

CONTENTS

[01] Greek Households Hit by High Cost of Living

Sources: ΝΕΤ, To Vima tis Kyriakis

Greek households are being hit by the high cost of living and loans. As per a research of the Athens University of Econonics carried in To Vima newspaper, the finances of six out of ten Greeks have deteriorated in a year, while only 8.3% believe they have improved. As per a Kappa Research carried in the same newspaper, 72.2% of the civilians consider the high cost of living the most important problem for Greece, while 55.65% hold the ND (Conservatives) and PASOK (Socialists) responsible for this situation. Meanwhile, the OPEC president forecast that oil will trade over $US146 per barrel per barrel in the coming week due the depreciation of the dollar. At the same time, European Commission President Hose Manuel Barroso has asked from European governments to take measures in support of small and medium size brackets.

Discouraging Forecasts

Most of the interviewees appear pessimistic over their finances in the future, as about 60% believe that their finances will deteriorate even more in the coming 12 months, while only one out of ten believes that it will improve.

At the same time, four out of ten Greeks are facing difficulty in meeting their basic needs, contrary to 20% whose income is sufficient to meet their daily needs.

In parallel, four out of ten expect a 5% rise in products, while over half of those asked expect a 1-4% rise.

Youths below 29 years old are more pessimistic, while mainly high school graduates between 30 and 44 believe that unemployment will rise.

As per latest Eurostat data, unemployment in the eurozone remained at 7.2% in May compared to April, with over 11 million eurozone citizens looking for a job.

The National Statistical Service is expected to make official announcements on inflation on Monday.

Translated by John Crystallidis

The Hellenic Radio (ERA): News in English Directory - Previous Article - Next Article