Greek Economy's Comeback Offers Lessons The U.S. Must Learn

[@tomzamp8547]

If Mitsotaki continues to sell off the country to the US I won’t be surprised if the Greek economy gets rated at AAA+++++++. Meanwhile the people are living with miserable government handouts, over 1 million people have fled and continue to flee the country ( the reason unemployment has gone down), Imports on agricultural products has topped leading to inflation, not surprised corruption and bureaucracy rule. Infrastructure is collapsing and hospitals have never been worse conditions are worse then third world countries.

[@Adedorusss]

Roads. Highways are not owned by the state in Greece and they are in good condition. This is not related to the current government. Even During the crisis the roads were OK. Hospitals. Just 2 weeks ago my father got his cataract removed in a public Hospitals for free. Population. Right now some 20 out of 50 european countries have declining populations. Greece has 10, 45 million people now from a peak of 10,9 million. Just hear what mr Forbes has to say... Today Fitch also upgraded Greece...

[@tomzamp8547]

@@Adedorusss what does all this have to do with what I mentioned before. Hospitals in Greece are a nightmare understaffed, poor salaries for healthcare workers, and all buildings are in dreadful condition. The roads in the cities are dangerous the highways even though some what new but under maintained and we have bridges collapsing or roads sinking because of bad construction

[@nikkay82]

@@tomzamp8547 well said my friend

[@Adedorusss]

@@tomzamp8547 Despite the bridge that collapsed and Despite the bad impression you have about Greek Hospitals, the situation gets better and better. Yes Greece is not Norway. Greek minimum wage is Just the 9th higher in the EU, out of 27 countries, not the first. But in 2015 the country was close to become Venezuela and now has a stable government, rising salaries and fast decreasing debt. This is a marvelous achievement in such short time. This is not just the opinion of foreign analysts. It is the way the Greek people see the situation. Otherwise, why the voted massively in favor of the current government just some months ago? And why the opposition halved its power?

[@tomzamp8547]

@@Adedorusss I lived there for over 15 years Greece today is at its worse it has ever been. The only difference from the previous government is that this one is supported by corrupt media which all media is owned by the corrupt oligarchs who control Greece . This government is all show. When a government has to give out handouts to help its citizens to make it through the month something is not right but on the other hand taxes you as a business 10% before hand for the money you will make for sure a problem exists. Not to mention tekmiria that’s fken crazy and that’s why I left. My dear friend nothing ever changes in Greece I was 15 when I first heard patience for a better Greece. I’m 60 today and Greece has never been worse

[@larryhardee1914]

Thirty years ago Canada was like Greece of fifteen years ago. Times change when you change your politics.

[@Pontiki1977]

As a born and raised Greek, living my 5th decade in this banana republic, i thank you. For your lies and propaganda, made me laugh. As a Greek, a true son of Aristophanes, one of the original comedians, i consider people like you, people that make other people laugh, extremely valuable. Thank you. Now i will go and google pics of Feta cheese, cause we only eat now, "white cheap feta look a like cheese"!!! It is cheap, but it tastes so bad, even my chicken won't touch it. Yes, my chicken are ILLEGAL according to EU laws. But we do need to eat protein too mister Forbes who knows absolutely nothing about the current state of Greece and the Greeks..

[@nenapapa]

As a Greek citizen I can assure you, we are still broke

[@stathispap8291]

We are much much better than year 2013

[@Ptolemy336VV]

Yeah, luckily Greeks are very uninsightful to the actual growth Greece has made. Keep sitting in the Kafenion with a Elliniko kafe and tell how your personal (ME ME ME) situation is the center point of the universe for how bad or good Greece is doing. But. IF you educate yourself from beyond your own personal position (which most Greeks do with a similar reaction to yours) and more from a countries profile, then you know Greece is well on track on climbing out of it's past economic woes. For example. Greece is reducing it's debt from 210% in 2018 to 150% in 2024. Which is the biggest reduction of any nation in the modern era. This doesn't mean 0. But with the projected growth, and the EU's promise of every nation reducing it's debt to like below 70% per nation, Greece will continue to lower it's debt. There will be a day 10 years from now where Greece may already have a debt below 100%. Which is incredible. Secondly. Greece is becoming a energy hub for South and central Europe. Not just through gas and energy pipelines from Israel and other places, but also Greece is making a green energy transition which is roughly in the middle of Europe's push for green energy transition. It's doing well. thirdly. Greece is checking it's own gas and oil resources and is projected to have huge deposits that could sustain Europe for decades. I know this is becoming less important for the next 30 years, but nobody knows if dependency of gas and oil will truly be 0. It may not need to be 0%. But by then Greece has perhaps for many decades to come exports in these regards 4th. Greece is 80% mountainous. Greece likely has many rare earth minerals. It is said Greece has many untapped sources and 28 out of 32 rare earth minerals inside it's geography. For example they have found huge deposits of a mineral I forgot the name of out of my head in the Peloponnese this year. It's a important mineral for future technologies. This is in pursuit of getting independence from China. And much more is to be expected from Greece 5th. Greece is making lots of reforms in many fields that are meant for technological growth. Tourism still does well and grows rapidly still and is projected to expand to lesser known destinations in Greece, not just for summer, and shoulder seasons, but also for winter and Spring Let just these points get to you and reflect on the steps already taken and steps that are already planned. Greece has connected the islands to eachother in the last decade, created infrastructure that connects all regions throughout the lands (highways and tunnels), Greece has yet to spend the bulk of the money from the EU for Greece 2.0. And there are so many other foreign investments that are being attracted to Greece. Now. It's always that not everyone feels such growths right away, but it's like losing weight. The days you focus on losing weight, you hardly see any results. But that is because first your body is using up excess energy, and then it will start to transform itself, and only after weeks you will start to truly see the results of all the labor that you have to put in to get to lower your fat. This is exactly how it metaphorically works on a country scale as well. It's all the labor you put in in all these recent years, that will set the tone for the future, and one has to keep stimulating it to keep growing like that. And im sure that Greece is very capable. Greece will do well

[@teyrncousland7152]

@@Ptolemy336VVBruh things in Greece are worse. I had to move out of the country to find a job. What are you talking about?

[@Ptolemy336VV]

​@@teyrncousland7152 I know and I realise that this has been especially the case for 2008-2016 for a group of Greek people. However things are changing and Greece has reduced its unemployment from 27% to 9.4% Jan 2024 statistics. A massive reduction. In a moment it will surpass Italy and Sweden. Spain is the one with the highest unemployment of 11.6% or so. But YOU personally is always the reference point for Greece, and this is the level of lack of being educated about where Greece stands as a nation. And I know this also from real life. I have been to Greece 50+ times since 2011. Spoken to countless Greeks. I have heard their opinions every single year. Extremely uneducated people. These people literally don't investigate one bit, and all they can think of is that because they themselves see nothing changing (a biased uneducated person who doesn;t investigate anything), doesnt mean the state isn't changing as a whole. And PS. I am absolutely not a hater. I love Greece profoundly. And I love Greeks truly. But the 1 thing Greeks are incompetent at, is investigating where the country actually stands. Only few Greeks have actually done the reserach. The rest is drinking Kafe with blablabla nonsense. Just because you personally have your story has literally no meaning to what is happening on the state. No. You don't get to have Dutch, Nordic, Swiss income just like that, but Greece is growing, is reducing it's debts and is closing the gap with North Western nations. Since 2016 till today 8 years later immense changes have happened. And 10 years from now Greece is compared to today yet again in a whole different state. I 100% believe that based on where I know Greece stands today and the growth it made. This trajectory is deemed to bear continued fruit.

[@teyrncousland7152]

@@Ptolemy336VV We have a saying about this: ‘Το ακούω βερεσέ’. Meaning that all of these facts and information are pointless to me and the average Greek person so long as we don’t have Dutch, German etc wages or at least the situation doesn’t improve for us. Talk to me again when “Greece’s standing” actually provides any benefits to the Greek people.

[@haveagoodday2405]

bravo to Greece!

[@dogussahin]

Greek economy came back but the average greek person’s buying power is reduced. Noone talks that part

[@Adedorusss]

Minimum salary from 500 something euro to 910... Inflation was just 10% in 2022 and 4% in 2023. Of course many more things remain to be done..

[@Ptolemy336VV]

Yeah, but have you maybe forgotten to mention that the whole world faced Corona? inflation? Russian war into Ukraine? And so forth? Im not sure. But if you ask anyone with an IQ higher than 15, will just barely be able to have some form of speech, and yet will be able to tell you this.

[@pavloskaisseris7587]

Is the same in every country when the country is doing well, not everyone benefits unfortunately 😕

[@fatboi6917]

very insightful!

[@Mario.alsanchez117]

Look a ray of light!

[@ommanipadmehung3014]

They aren't conservatives they are liberals in the traditional sense.

[@sakhiweshezi]

This Steve Forbes looks like a very important man...

[@sunking5892]

You have to be a fool to compare US which has the reserve currency of the world to Greece that can't print Euros and is too small to leave the Eurozone. Forbes was telling us about the end of the USD in 2009. Guess they just keep getting it wrong.

[@rumanzidiogene-w7w]

madam opray winefred back meeting irigentrie washington dc ????

[@metaphysicalArtist]

Rating Agency Rating Outlook Last Update Action Standard & Poor's BBB- positive 22 Apr 2024 outlook upgrade Moody's Ba1 - 18 Sep 2023 rating upgrade Fitch Ratings BBB- - 1 Dec 2023 rating upgrade DBRS BBB - 11 Sep 2023 rating upgrade

[@xhi4xhi432]

Why are you lying. Greece is going downhill, in full decay.

[@Adedorusss]

Kyriakos Mitsotakis saved the country. It is hard to believe that: Greece has investment level again Economy grew 8% during the last 4 years despite the pandemic. Greece¨s economy is growing faster than most EU countries. The debt is down to 160something% from 210% of the GDP AND IT IS PROJECTED TO BE 148% IN 2024 !!! The minimum salary is 900 euros, almost doubled since the crisis and a little higher than before the crisis. Now Greece has the very same GDP per capita in euros with the year 2009 And at the same time Mitsotakis strengthened the Greek army enormously.

[@tomzamp8547]

Get off the drugs

[@Adedorusss]

@@tomzamp8547 If you doubt something i said, let me know.

[@greenlime8726]

GDP per capita isn't nearly as high as it was in 2009, Greece isn't prgected to reach it even by 2029 Yes, some good things has been done and Greece is definitely better off today but the country is still broken and people still suffer Those countris that were much poorer than Greece before the crisis are now or richer or almost as rich and continue to grow at much faster rate than Greece does(even Baltics that neighbour with the country at war and eager to invade them grow faster than Greece)

[@Adedorusss]

@@greenlime8726 Sorry, i have to insist. 1. "Baltics are growing faster.." No. Greece's Growth in 2023 was 2,5% while: Latvia 0,5% Lithuania -0,2% Estonia -2,3% Lets include the 2 poorest EU COUNTRIES and usually fastest growing ones: Romania 2,2% Bulgaria 1,7% Source statista real GDP growth 2023 2. "People are suffering" IN 2023 we had a 27% increase in buying new cars and during the Greek Easter of 2024 the biggest exodus from Athens for holidays for the last 20 years. For me the crisis story has come to an end. To sum up, yes the crisis was a huge disaster. We would have the same GDP per capita with France now if this event never had happened. But on the other hand, Greece now is on the right path reclaiming fast the lost ground 3. The inflation of May has just released. Greece: 2,3% / EU average 2,6% 4. I said above the minimum wage is 900 euros. We had a new increase a month ago. New minimum wage in Greece 970 euros gross. It is the 10th biggest in EU i think. Some countries countries with lower m. salary than Greece: Cyprus 940 Portugal 956 Estonia 820 Lithuania 920 Latvia 700 No need to continue.. 5. I said above "Greece has now the very same GDP per capita with 2009 in Euros" I heard this phrase form a current Greek minister and i immediately search about it because i deeply impressed. Guess what, he was right. Around 25.000 euros in 2009 the very same now, mid2024. If you speak Greek search for it : news paper Ναυτεμπορική 5/October /2023 6. "The Baltic's are growing even though they are under constant threat" I wish to them the best. To built their defense and protect EU. However what do you know about Greece and its military capabilities, expenses and threats? Let me inform you that even the military power of some really big EU counties seem to be like drafts in comparison with Greece's military. Did you knoe that Greece has the 10th biggest submarine fleet on Earth? USA has 68 Greece has 11. Did you Know that Greece has the biggest tank fleet in EU? To be exact, all the other eu countries combined have a number close to what Greece has alone. No need to continue, just make your own search if you do not believe me.

[@rumanzidiogene-w7w]

president secuirite internation this word back washington dc meeting irigentrie

[@rumanzidiogene-w7w]

madam opray ??????

[@rumanzidiogene-w7w]

perezida hollwud this word back washington dc meeting irigentrie

[@timoleonhatoudis8947]

how fake is all this!!! who try to convince?

[@mihadalzayat6957]

The greek economy came back because their tourist industry is predatory.

[@Pan472]

The tourist industry makes less than 20 bln, aka, less than 9% of our GDP in nominal terms, and less than 5% in purchasing power parity terms.

[@athlitikosomateioanth4567]

The argument that Greece has only tourist industry because that is what most tourists see ONLY is simply stupid. In Greece, there are people working in ANY profession just like in all countries. The most important industry of Greece is shipping, as Greece is the biggest global power in merchantise fleet in the world, even surpassing Germany and US combined.

[@tomzamp8547]

Not even the tourist industry has not recovered. Greece is not even capable to produce fruit juice most is imported from South America frozen

[@Ελλάδα-ω3θ]

Tourism in Greece corresponds to only 8% of its annual GDP/ Stop this terrible propaganda. We are really tired of saying the same thing every time.