Is Greece's Economy Really Improving? | Greek Economy | Econ

Greece's #economy has evolved over the years, from its rapid growth in the post-World War II period to the challenges it faced during the #Eurozone crisis and subsequent austerity measures. 📈 The factors driving Greece's economic resurgence include its pivotal role in global shipping and its strategic importance to the European Union's energy security. 🚢💡 #Greece is booming as one of Europe's fastest-growing #economies. 💥 The country's impressive turnaround is gaining recognition from credit ratings agencies, leading to upgrades in Greece's debt assessment and attracting big foreign investors. 💼 But are these improvements translating into a better situation for Greek families, individuals, and businesses? 🇬🇷 🤔
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[@econYT]

Support my research and projects: ko-fi.com/econyt Hi! Awesome people of the internet. -Comments and suggestions are welcome. -Please share videos with people who you think might enjoy this content. -Don't forget to subscribe for more economics content! You are awesome :)

[@user-lk4xm6vg1w]

How's the backlash? Did you read the comments? Maybe do a better research and reupload this piece of sh1t.

[@user-lk4xm6vg1w]

Only seeing this Not only u got 👎 Not only i won't subscribe But i 'll ban you from appearing in searches. Also i won't recommend you to anyone And sure i won't repost this piece of junk. You have nothinh to do with economy or news or reality.

[@stavrostsitsopoulos2727]

Back in 2006 while I was working as a junior application engineer in a small reseller company based in Athens I was getting 1400 euros gross (monthly). I left Greece to work in the UK and Ireland for the next decade, and my salary peaked at 3000 euros NET in Ireland (2017). Now back in Greece since 2020 my monthly salary is 1300 euros gross (working as an engineer instructor in a major public company)...with no signs of a meaningful increase. Today many people in Greece rely on the government's charity (fuel, electricity pass they call them) to sustain themselves. 40-50% of an individual's salary goes to rent and bills, foodstuff in supermarkets is more expensive than those sold in Germany, and in general disposable income simply doesn't exist. If you have an emergency such as a medical or car breakdown you need to borrow money from your parents, provided they have saved enough from their tiny pensions. The situation is still dire, the economic situation on the ground level doesn't reflect the numbers published by the government.

[@GeoffreyFirmin1]

I am pretty sure that the company you currently work for has more than triple its net profits since you left the country. Yet, they pay the exact same salaries. Why? Because Greek employees have zero negotiation skills and they just take whatever is given to them, which is always the lowest possible. I’ve seen it happening abroad too. Sad but true!

[@jimmyn7t]

​@GeoffreyFirmin1 No, it's actually cause the employees and the people of Greece are voting for the same government over and over. And 50+% of them dont even go to vote. So yeah, the salary situation, will continue this way cause half of the population denies to make a change.

[@MrPanos2000]

​@@GeoffreyFirmin1 Have fun being unemployed if you even suggest a raise

[@Jimmis_93]

​@@jimmyn7tHow is this relevant with the salary negotiation skills?

[@jimmyn7t]

@@Jimmis_93 it is not, I answered why the Greeks are getting the treatment they are getting. If you read it more thoroughly, and carefully, you would be able to understand what I mean. Simply put, (cause I don't know your if your level of English will still comprehend what I meant, I will clarify it further,) I said "No, it's not cause of that (the negotiations), it's cause of the Greeks themselves, and what they do every time they have to vote."

[@bernardheathaway9146]

It's a good video for someone who doesn't know the politics of Greece and is a fan of capitalism. Truth is, the owners of the shipping industry in Greece, are also the owners of the greatest sports teams, the owners of the energy production AND distribution and also the owners of the major TV stations. The fact that they do good, means the rest of Greece doesn't. So, it doesn't really work to say "Greek shipping good, greek economy good".

[@user-nq5ok7tn7u]

Εντωμεταξυ ολα αυτα που λες αφορούν απλα 3 εφοπλιστές και ιδιοκτήτες ομάδων που ακουγονται στις ειδήσεις, απο τους πάνω απο 70 μεγαλους Έλληνες εφοπλιστές. Τσακος, Αγγελικουση, Φραγκου, Μαρτινος, είναι ελάχιστα από τα ονοματα που δεν ακουγονται καν στην ελληνικη επικαιρότητα και λογικά δεν ξερεις. Οι κλάδος της ναυτιλίας και της ενεργειας είναι πολυ σημαντικοι για την Ελλάδα, σε οικονομικο επιπεδο, γεωπολιτικο, και σε επίπεδο υποδομων. Φυσικά βέβαια κανείς δεν αντιλέγει πως η ελληνόκτητη ναυτιλία θα μπορουσε να συνεισφέρει περισσότερα στην εθνική οικονομία, αλλά εκεί εισέρχεται ενα διεθνες πρόβλημα, αυτο των φορολογικων παραδείσων και των flag paradise.

[@konstantinoskor7267]

Exactly

[@phdimakopoulos543]

Precise !!!

[@KYRIOS_DRAGON]

I have travel almost all over the world and i can confirm that literally all countries are exactly like that.

[@Nevio857]

All I know is I need double the money I needed during the crisis to survive, and the salaries are the same

[@div92]

Salaries are not the same at all

[@STAM-ym1qu]

Yes they are lower if you take in count the inflation,rent,energy prices right now. Don't think of the salary as a number but as the amount of goods you can buy now vs back then. @@div92

[@TMPOUZI]

@@div92 Compared to the money you now need to survive, it's practically far worse. The average Greek is way poorer than 10 years ago

[@heliosophist334]

How about working a bit more then?

[@johnvartolomei9209]

​@@heliosophist334Greece leads in working hours in EU so I don't know what you are talking about.

[@antonios111]

As a Greek, living abroad since 2015, i can say, in my experience, going back to Greece every summer, the situation is not as optimistic and full of hope, as the government would like to make it out to be. Compared to the 2010’s, the poverty/homelessness isn’t as extreme, but as most Greeks do, the cafe talk is where you truly understand the systemic issues at play. Money is being invested in Greece, but the mass are not benefiting and i dont see that changing anytime soon. Taxes compared to wage are still too high, rent is becoming a joke in the cities, particularly Athens, Airbnb as a source of income, is a beacon of hope for many residents (including myself), but torturous for many others.

[@Jim89M]

as a Greek I can say that the recovery and the development exists only in the statistics. GPD goes up mainly because of the rising prices in real estate, where all the investment is made, incorporating semi illegal activities and cooking numbers in the books. for the average Greek, life quality and purchasing power goes down every year, Greece is a Mafia run state by the criminals who own the shipping industry, the media, the petroleum industry, the big construction project companies, football teams and the government itself. Those ship owners are shipping illegal Russian oil and drugs around the globe, and do not pay a single penny in taxes, as they use flags of convenience and laws made on their demand.

[@unfaithful.]

Unfortunately this happens in all the countries of the world, it is the so called shadow economy that rules the world.

[@BEDROSs]

evangelos marinakis wants to know your location

[@Jimmis_93]

​@@BEDROSs😂😂

[@kkmspm]

welcome to greece. this is the greek reality.

[@vangelissyr7088]

@Jim89M nope. you have about 18 bil earnings from tourism each year that is not from real estate, but what you said is a factor. cooked numbers is not such a thing. from a macro economy perspective greece is getting a lot better. what you can say it is that households have a problem with inflation that is correct. what you also said about oil etc is correct but purchasing power among eu27 is getting up. we were 26 and now we are 24. it's not a big thing but every statistic is getting better. unemployment rates, exports, debt to gdp. don't forget that we were on economic crisis followed by cov19 and 2 wars very close to us. things have improved a lot comparing to 2010s

[@duartesilva7907]

Seeing Greek economic woes reminds me so much of my own country: Portugal. Greece's fall was bigger, but both still share gigantic economic woes from the troika times.

[@user-nq5ok7tn7u]

Portugal recovered so faster though... I think that institutions had stronger foundations there, and I've heard that the crisis originated mainly from the huge private debt, in comparison to greece where the main problem was the public debt.

[@vladtheimpalerofd1rtypajee316]

Better than India

[@totallegend2480]

@@vladtheimpalerofd1rtypajee316 Not very hard

[@organicfreedom8721]

Why Troika visits Greece frequently then? Troika raped financially Greek people and they accepted it. No return of the stolen money from Greek people and PM Simitis is out of prison the person responsible for distorting economy statistics data

[@duartesilva7907]

@@user-nq5ok7tn7u No, the problem was public spending too. Portugal today has probably the biggest highway density in Europe because of this, but at the same we pay crazy tolls, we heavly disinvested on our railway network.. About Portugal recovering faster. I think the question basically resumes to the fact that 1) Portugal experienced a tourism boom post-crisis, while Greece was already quite known. Many foreigners started buying properties here as it was quite cheap still, opposed to Greece; 2) Portugal had higher levels of emigration, leading to less unemployment in general. Also, wages were quite lower here than in Greece (now they are closer, maybe Portuguese wages are even a tad higher); 3) tax incentives for foreigners to retire here or set up a startup here, leading to WebSummit being headquartered in Lisbon nowadays.

[@SPACECRUISER96]

Where do you see the economic comeback? I am Greek and I feel poorer than in 2012-2014 which supposed to be the worst days

[@ryangriffith5551]

Sounds like you need to get out more Mr. Socialist.

[@faidonc]

feel

[@pedromarques9267]

feel

[@enovationsgr]

@@faidonc Rent is AT LEAST double. Building a new house is 75% more expensive. Food and services are 50% more expensive. While wages are at best 25% higher.

[@greekandbulgariangamertv8633]

Σύμφωνο

[@gaarakabuto1]

The economic growth of Greece is an illusion. The same way the growth of Greece's economy was in the 90s and early 2000s with the primary difference being that in the 90s and 2000s is that back then we had industries even if small. First of all, all the data provided in the video is from the Pireus bank. Even though Pireus isn't like on these data, these data have a lot going on in the background and organisations like statistica and Eurostat do point out their doubts about the legitimacy of these data or the fact that they may be the result of other fallacies. Another thing to note is that being the 16th nation in growth in the EU is kind of laughable considering that we have 24 nations in total of which 4 of them have reached their peak and high growth is not possible due to their size. Compared to countries like Estonia, Poland, Slovenia or even Croatia and Bulgaria we are barely doing ok comparing everything Greece had obtained over the years in terms of infrastructure and tools. Shipping came countless times into the discussion if this video. The shipping industry is completely detouched from the greek economy just because the shipping industry is greater than Greece's whole economy and with a lot more influence. Keep in mind that the only reason the Greek fleet is so high is because of taxes and benefits that the government offers to ship owners. Ship owners help greek government to manufacture their numbers and the Greek government gives them unique benefits. At the end of the day we don't produce shipping ships anymore nor we have any shipping ship sailing with the Greek flag, figure out why... Now getting back to the actual growth. The current government is a corporative one, they seek to become a great tax heaven or a hub for companies to establish on like Ireland. The difference between Ireland and Greece is that we don't have what Ireland has for these companies, but what we do have is a very deep and sophisticated corrupted system that allows great benefits at a small price. Keep in mind the primary goal of the current party was bringing investors in Greece, yet we have the slowest corporational internet in the EU and the worst distribution system, not to mention the tragically bad bureaucratic chores you have to go through to establish any kind of company **unless** ... We are building another bubble and Europe is maintaining it the same way they did in the 2008 crisis. If they don't step in things will go down once again, the only difference is that now it's not on the housing market exclusively but in oil refinery and shipping, on golden visas, on bad infrastructure projects and the housing market on top of it.

[@user-nq5ok7tn7u]

Did you even see the video? First of all only 2 graphs out of more than 10 are from Piraeus Bank, others are from world bank, IMF, Eurostat etc. I don't know what video were you watching. About shipping, your first argument contradicts the second one. You argue that greek governments are offering low taxes and benefits to the ship owners, while ship owners are helping greek governments manufacture the economic figures (how? By offering greek governments specialised accountants? By reporting more shipping capacity than they really have?). Your next argument though is that there is no greek ship sailing under the greek flag, figure out why... (Why?) These two arguments, while no evidence backed, they also clearly contradict each other. If greek governments offer ship owners so many tax benefits and many moreas you say, it doesn't make any sense why greek ships wouldn't sail under the greek flag. If Greece was a shipping tax haven as you claim, all ships would sail under the greek flag. Except from the logical false in your reasoning, data also does not provide any evidence backing your case, on the contrary, both of your claims seem to be invalid. First, Greece is not a tax haven, nor a shipping flag paradise. If it was, there wouldn't be so many greek ships under Panama, Palau, Malta etc flags, nor would many of the greek shipping groups headquarters located in other countries, especially UK, Ireland and USA. However, your claim of "not any shipping under greek flag" is also fallacious. Lloyd's list reports that Greece has the 9th strongest flag in terms of total capacity (35m) (2022). For example Aggelikousi who is the biggest greek ship owner has almost all her ship registered in Greece. Of course this is not the case for all greek shipowners, the majority of which still prefer to register their ships under cheapest flags. Governments in Greece are actually trying to get shipowners to invest in Greece, and it is working partially. Taxes and benefits are still not as competitive as in other countries. This shows that Greek governments are not controlled by ship interests (if they were, then all shipowners would have back in greece) and that there are many greek ships under the Greek flag (meaning that they contribute in national economy), although steps have to be made by governments to attract even more. Also another point that i wanted to mention is the historical ignorance of your argument that "the only reason that greek fleet is the largest in the world is because of the benefits greek governments offer". This couldn't be more detached from reality and historically incorrect. Greece is a naval power since it's independence and even before that. Most (if not all) of the shipowners back then, were operating and making their fortunes abroad (Egypt, Russia etc.). This trend continued in the 20th century, with Onasis and Livanos, two of the richest Greeks operating almost exclusively abroad. On the contrary , we have the example of Stratis Andeadis, a ship and bank owner, to whom greek government was not only hostile, but decided to seize almost his entire fortune. So greek merchant shipping tradition goes far beyond greek governments and control.

[@user-nq5ok7tn7u]

I won't even try to get into a discussion about your last points, as they seem to be politically and not fact driven, including conspiracy theories narratives. Greece is not a tax haven, while bureaucratic obstacles are being lifted and certain types of companies can now be established via online platforms in 20 minutes. The internet part is true, and i would add the slow judicial system as counter incentives for foreign investments. I don't know what you mean with "the wort distribution system".

[@gaarakabuto1]

@@user-nq5ok7tn7u I don't think you understand a lot about greek politics. With what flag you sail has nothing to do with where you company is of shipyard is settled. The shipyard or the accounting department of the company is where you admit your taxes and profits etc. the flag of sail has to do with international maritime laws and a very very simple Google search can get you everything I mentioned. On the contrary countries like Norway and Finland who make shipping ships both are sailing with their own respective flags and they are pretty easy to investigate on what exactly they are shipping. The Greek ships are a mess in that regard and somehow most of them are specifically choosing flags that covering up of the load is easy. We do not even sail with marshal island's flag that they do require a fair amount of transparency at least in the case of the products transferring. Then again go read the Eurostat studies instead of asking me what the problems are with the numbers of the Greek data. The benefits the Greek government offers is not just tax related but also turning a blind eye on tax evasion and most importantly illegal activity. We currently have two legal cases in European courts, the first one is the Greek mafia case and the second one is Noor one case. Both are related to a Greek Ship owner. In both cases the Greek court disclosed the case and made sure for his name to get cleared while in the European court his name is still on the files. That's the benefits the Greek government offers, or more specifically of that nature. Guess where those money are going, not in the Greek budget. Yet that specific individual may offer a charitable contribution towards the current government. Those money are going to be contributing in the national budget. Those money are not tax money, they are money for further covering up a long case of illegal activities. Even the EU benefits from that. Greece is the only country that has set just SOME sanctions on Russians and those that are not set are those related to oil. In Greece we have a respectable oil refinery industry. Nothing fancy, but in comparison with anything else we have (excluding shipping companies) it is something. A lot of the oil we refine and send to Europe is sold as Greek oil. Greece has no such oil potential, which means we rebrand Russian oil to sell it in the EU. The EU is aware of that of course. But of course it is not just oil that we import from Russia. All of the above are recorded public information from various sources, of some unfortunately being independent journalists. The reason I say unfortunately is because one of the main journalists that got the necessary proof for the European court to take the Noor one case, he is now dead five feet under and his assassination is a closed case. His family is still demanding justice. Also would you mind taking a look at the most simple case of Onassis. Because the way Onassis got to the point he was is strongly controversial and contradicting. Initially he just bought old ships that were made for the war at very low prices. Pretty fast though he also got access to national capitals that the documents aren't public and the deals are questioned on the legal aspect. Of course the past is the past and we were not the only country in Europe doing such businesses back then the point is that we still do these right now.

[@gaarakabuto1]

@@user-nq5ok7tn7u bro fuck off accusing me of being politically driven. I work on an institute and I do report data regarding meteorological data. I see my data getting touched before they are uploaded under my name and if I make any complaint the response is "you can leave or go to court". Also fuck you about the conspiracies. We rank last alongside Hungary in media transparency and trustworthyness. We have dead witnesses in all the cases I mentioned and you accuse me of being a conspiracy theorist. If you want to throw everything under the rug once again, go on PLEASE be my guest. We did it once, it did wonders for us, we got in the EU as one of the fastest growing countries and everything was rainbows and sunshine just like now, somehow nowadays we are put next to all the post soviet countries in 90% of the statistics. I guess you can also call me a liar for that because I can't upload images of statistics and you are to lazy to take a look by yourself on any public paper that goes through deeper on the Greek economy. Sciencedirect may be free for the most part but KZbin goes brrrrr am I right? I mean hey everything is perfect and we soon will have flying cars so why worry. Just forget about the accusations of many economists about the flawed ways we calculate our inflation, TV hasn't reported anything thus everything is fine, at the end of the day what do those Singaporian economists know, when we had democracy they were eating walnuts am I right? If everyone says we are doing fine why should we trust them not? Also let's forget that the people that say everything is fine at the same people that initially declined any questions regarding Qatar gate for example... *EVERYTHING IS JUST FINE AND WE ARE GETTING BACK TO BEING THE ALFACHADS OF EUROPE*

[@user-nq5ok7tn7u]

@@gaarakabuto1 i have a degree in international and European economics and completing my master in Policy economics, so let me know a little something about economics and politics. You are not answering to any of my arguments though, where i point out the inconsistencies of your reasoning. It's funny that you mentioned in your previous comment that there are no ships under the greek flag, while now you are arguing that shipping flag has nothing to do with anything and is completely irrelevant with the economy. Of course it has nothing to do with the birthplace of the ship. But even if the hq of a shipping company are abroad, the company has to pay taxes to register a ship under a certain flag. In fact, is is calculated that shipping contributed 14 billions to greek gdp on average (for years 18-2021), or 8% of the gdp. Of course that number should be higher, an indication that still many shipowners prefer doing business abroad. Shipyards are a hole different story, which has a lot to do with the deindustrialization of greece. Greek shipyards reopened recently, not without reactions from the opposition parties. I am aware of the Greek statistics scandal of 00s, while i fail to understand the correlation between greek statistics and shipowners... So i get that your hole argument is based on one controversial person that may or may not have close relationship with this or maybe also the previous governments. Who may be a drug dealer and a smuggler. Who may be involved in mafia cases. But if prosecutors and attorneys cannot prove that, neither can i or you. This doesn't mean that it would come as a surprise if they do eventually. But again, your arguments are contradicting, you say that no greek shipowners are located in greece or register their ships under the greek flag thus contributing nothing in Greek's economy, while on the other hand you argue that greek governments do them favours, gives them benefits and operate as a criminal's asylum. It cannot give them benefits if they are located abroad. Choose one. Surely shady deals are made from the greek shipowners, either they are based abroad or in Greece. Onassis is a typical example of this when he was buying American ships or when he was making deals with arabians about oil. But these things and many more were not even related to greece and greek governments. They surly had good relationship with the dictatorship, however things changed dramatically after it's fall, and the state began to nationalise industries and place obstacles to capitalists and shipowners. So again, the rise of greek merchant shipping isn't attributed to the benefits that the greek state provides, nor to the asylum of international criminals. Greek merchant shipping is dominating for over a thousand years, with the most greek shipowners thriving abroad, and having little to do with Greece. Now about greek export of petroleum products, I don't think that it is any kind of secret that greece is refining oil that isn't extracted in it's territory. It is transported via ships and recently built pipelines adn it doesn't come only from Russia but from Azerbaijan through Turkey, Israel, USA (who invest in LNG receiving and refining infrastructure) etc. I don't think that is "rebranded" as Greek or that there is any secret involved.

[@Pan472]

It can be summarised as following: macroeconomically, ues, we are doing better and pretty good actually, as the debt-to-GDP ratio is quickly shrinking, we are way more reliable in terms of fiscal balances, we're out in the markets, the stock exchange is performing ideally etc. But microeconomically, aka, in society's economics, we are still struggling. Things have only very slightly improved, but even this is counteracted by the exponentially rising cost of living, which is quickly depriving us of much of our available income... And I have to add the following: the government hasn't done anything to combat it, while it provedly has now the resources and of course the deposits of will to do so.

[@jimakisspd]

Urban legend: The debt is not shrinking. It's simply being replaced by central government debt. The government takes loans from the public insurances and services instead of loans from foreign creditors. And in 10 years our central government debt increased from 0 to almost reaching Japan. So no, we suck on all levels and what we are living in is just a bubble.

[@Pan472]

@@jimakisspd No... The government debt is indeed falling. You can't go from 210% to almost 150% in just three years just like that. It needs actual funds to repay it. And no, it cannot possibly be done by transfers. It's dozens of billions, and it would be immediately visible. And especially for a country like us, if they found out, they'd make sure we went bankrupt again. And you confuse household debt with government debt. Household debt in Greece was never big to begin with. The government fucked us over with its policies and we pay their broken belongings. We never owed anything as much as the State. As for the State and from who is it borrowing, it's well known that it now borrows once again from the markets, aka from private foreign investors.

[@SpartanLeonidas1821]

@@jimakisspdYou are a Liar! 🤡

[@user-bu1vc3bl1c]

The issue is that you seperate the two, inflation is what is making the debt-gdp ratio better and is also making the actual household income plummet, so its not actual growth just the consequence of high inflation

[@vasilisconstantinides4476]

I think things have to improve macro-economically first before they improve micro. This is an inevitable for any emerging nation. Κουράγιο

[@Byzantios1]

The situation is still abysmal. Jobs are hard to come by and mostly low-level, service industry positions.

[@greekandbulgariangamertv8633]

As a greek (I didn’t end the vid) I say that Greece is in a stagnant to slow decline honestly I live in Thessaloniki the second biggest city in Greece and there are a lot of problems poverty shit school system and a lot more I don’t see the growth that the statistics say and I think a lot of other Greeks will agree

[@MrThePsychologist]

ελα ρε σειρα

[@noterrormanagement]

Τα ιδια στην πατρα. Αργοπεθαινει η πολη. Σε λιγο δεν θα δουλευει τιποτα. Παλι καλα που εχουμε και το πανεπιστιμιο αλλιως θα ειμασταν χωριο εδω περα.

[@greekandbulgariangamertv8633]

@@MrThePsychologist ναι το ξέρω μπο δεν λεω και κάτι σπουδεω και βλέπω όλη η Έλληνες στα κομεντς λένε το ίδιο

[@bellosjt]

Εμπεριστατωμενη εκφραση...πρεπει να διεπρεψες στις πανελλαδικες

[@heavyaccept]

Agree, every time I go back to Thessaloniki, I don't see something better...

[@alexpazaitis]

That's an impressively shallow analysis of abstract macro-indicators that show no more about the Greek economy than a bowl of Tzatziki splashed on a blackboard. Greece is improving only as a financial product and mass-tourism resort. Both are highly extractive activities that contribute next to nothing to the real economy. The so-called investments are almost exclusively on financialized real estate and luxury resorts. Shipping is also infamous for not paying any taxes to the Greek state -by a royal decree since Greek had a king- and the ships are all sailing under third-country flags. The only contribution of shipowners to the Greek economy is the money they pay to corrupt journalists in the media they own, and the employment opportunities for local drug dealers and hitmen. Global financial institutions, investment banks and rating houses were at the core of the events that created the 2007 collapse. How are we still looking at their indices to evaluate an economy?

[@multiicore_]

shipping has contributed to debt service payments of 140 billion. Cut the crap.

[@alexpazaitis]

@@multiicore_please, elaborate :)

[@phdimakopoulos543]

Exactly to the point !!!

[@Dimitrios_Efthymiadis]

Without deep (and unpopular) structural remorfm, both in terms of developing a comprehensive layout for strategic public investment and improving state capacity, as well as towards developing an institutional framework that is conducive to the operation of a free market economy, the situation in Greece will not improve. These kinds of reforms require a political will that is still absent in the country and this is very much a reflection of the fact that, in spite of the crisis, the mentality of the average Greek about the relationship of the state and the economy has not changed.

[@dr.drakeramore2740]

Σωστά Δημήτρη. Καλή συνέχεια

[@georgegeorgantas753]

Well said. It seems like Greeks learned nothing from the crisis.

[@stefanosspanopoulos2134]

The fact that you are the only one in the comments that writes down what has to be done, shows that, most probably, it will never be done.

[@Pan472]

What "structural reforms" exactly? The population is still overtaxed, and now the small percentages that could only avoid the VAT can't even do that anymore, as the government has imposed transactions exclusively with credit or debit cards and imposes hefty fines on whoever doesn't have a POS terminal. Then, they close down businesses either for days or permanently accompanied with enormous fines if they don't cut a receipt. A mere receipt, not even a grave financial offence. What needs to change is our political class. Because **they** are the ones who are still buying real estate through off shores, Russian oligarch style, and that in their entirety. Not the population. Our political class needs to be reformed, not us. Their mentality has to be changed, because they are the ones who are still robbing the population dry. "The average Greek"? Που βαίνεις ρε Παπαλάμπρο; Ο μέσος πολίτης που δεν μπορεί πλέον να κάνει μια συναλλαγή χωρίς πρόστιμο και που όλες σχεδόν γίνονται μέσω καρτών; Σοβαρά;

[@MrThePsychologist]

Is Greece’s Great Economic Comeback an Illusion? *YES*

[@igeorgoudi]

Economics may(?) be better, but is way of living for the average Greek better? I can tell you as a Greek during the crisis I was able to buy a lot more products than now.

[@arkm7]

Yes, because you probably had a job. Don’t forget about the hundred thousands of people that didn’t during the crisis and do, now. Also, the job market is much better now with employees fearing less being sacked vs 10yrs ago.

[@igeorgoudi]

@@arkm7 I was a university student and the product value was less than the prices we have now.

[@arkm7]

@@igeorgoudi I am sure about that, but is it better to pay for a coffee 1.5€, have zero income and rely on your parents for “hartziliki” or for a coffee to cost 2.5€ and you make 780€ per month? It’s as simple as that. Same for young families were it was common for only one parent to work, whereas now probably both do. Yes they pay extra for baby formula, school etc, but their total income has >doubled.

[@igeorgoudi]

@@arkm7 do you live in Greece? Do you get paid in Greece? If not, i can tell you I am Greek I live in Greece and it looks like it has doubled but the prices have risen so much that no matter how much money you make it is not enough. Btw, the salary is 850 for most, the rent is not less than 300-500 euros ( i am not talkig about renting a house for a family, i am talking about a flat for one person) , the electricity is the highest in Europe when it comes to price and honestly paing 3 euros for a 1lt milk is really bad. Gas as well. When 2012 hit Greece the maxiumu price was 1,49 now it is 2,50. And I was not relying on my parents for pocket money, i was paying rent myself. Don't believe at the news that claim Greece has a financial miracle when most of us struggle really.

[@arkm7]

@@igeorgoudi I live and get paid in Greece. The prices you state are an exaggeration. 3€ for 1lt of milk is only for the super premium ones. Regular Cow’s milk is 1.6€. Gas is 1.8-1.9€/lt, unless you like to pay for super premium gas. If you want to feel bad for yourself and your country, go ahead. But the macroeconomic factors say otherwise. I am not claiming Greece is a financial miracle, but the economic climate is much better vs 10yrs ago, opportunities are much more but of course it has a long way to go still. Plain and simple.

[@ioakeimtheodoridis8280]

one misconseption about greek shipping and greek shipowners. greek shipowners have nothing to do with greece. 80% of the ships owned by greeks are registered in a foreign flag (panama, algeria, malta because these flags have lower taxes) meaning that greece basically gets nothing by that. it is just the ethnicity of the owners that are greek.

[@theofilosdimas6677]

The only reason that our GDP is growing is that energy suppliers are making huge profits while the government is't doing shit to ensure living standards.

[@hafilip8393]

820 Euro per month is the average salary in Athens and the rent is 500 for a small apartment and iam not even put one of the most electricity in Europe and taxes and and and.... But anyway you have to work all day to give you that money, better to be unemployed

[@TMPOUZI]

most small private bussineses in Greece evade taxes to survive. If it wasn't for the black market Greece would have people dying on the streets

[@user-tv4oi2xv6b]

sadly this economic growth doesnt really translate to greeks being more wealthy. most greeks have a harder time going by right now than the previus years due to rising costs in basic needs such as food and energy. This growth applies only for people who are already welthy and will only widen the wealth gap

[@KingGeorgeX]

As a Greek living in Athens, short answer to the question: 100% illusion.

[@aungmyintoo4635]

You are too pessimistic..you still have a beautiful country on earth, have you ever heard Congo or India? You should be thankful to God.

[@KingGeorgeX]

@@aungmyintoo4635 I'm pragmatic actually. Have you ever lived in Greece as a permanent resident? The subject of the video is about the economic situation in Greece, so allow me to have first-hand knowledge. The matter examined here isn't about Greece's culture, rich history or natural beauty that are unquestionable.

[@TMPOUZI]

@@aungmyintoo4635 Greece is heaven for tourist , but hell for Greeks. I dare you to come, find a job and try to live here for 2 years. Probably you'll quit in less than that

[@npatch]

@@aungmyintoo4635God has nothing to do with it. South East Asia also has beautiful places, but doesn't have the strongest economies. India, as an exception, is in the top5 largest economies in the world yet it doesn't reflect the majority of its people not one bit. Imagine you calling India out for poverty yet it's one of the highest economies in the world. Just shows how much disparity there is between economy and quality of life/cost of living/salaries etc for the citizens.

[@lokesh303101]

Greece 🇬🇷 needs to be focused on Additive Manufacturing for Boosting the Employment and increase trade volumes within the Eurozone 🇪🇺 and share significant GDP ratio in Continental Europe.

[@TMPOUZI]

all your suggestions would bring a big improvement for sure, but the governments, local and foreign will not ever allow that for obvious reasons. Greece has become a poor protectorate country

[@nikvret9544]

As a Greek i can say, crisis brought many taxes to us, now at least we can find a job easier but cost of living and taxes evaporates the salary. Hard to save money.

[@TMPOUZI]

Saving money in Greece is simply a joke, unless one is corrupt and a fraud

[@diroredota]

The only thing that changed through these years is that now we are used to being poor, at the begining of the crisis we were in a shock. Only the rich are doing good in Greece, majority of the population mainly survive thanks to the savings/property of their parents during the good decades of 90 and 00.

[@mrRobotX_x]

So, Greece's been through a lot with its economy. Thank You!

[@ViLLaPar0s]

It goes pretty well, taking into account that we live in difficult times (war in Urkraine, middle east in turmoil and constant war-climate with Turkey) . Greece of 2010 has nothing to do with 2024. The biggest reform is the digitalization of public sector, it really made much faster and more efficient any transaction with the greek authorities. The greek economy will boost more, under the reform of military industry, which is focusing on high technology products with the participation of local software companies and re-organisation of shipbuilding and aerospace industry.

[@CMR10500]

Man, you are out of touch…where are these industries you are describing ? Greece has none of the above. Most of such things are imported, like what software companies ? Do you have any grasp of the situation ? Greece has a production problem, almost all of its sectors are services…and the greater percentage of them require just low level employees…The digitalization of the public sector still has a very long way to go…it will require the replacement of the senior staff in order to be completed since they do not have the education to utilize such a systems and mainly the public sector is manned by older people. Also the situation around the balkans and in the greater area has never been stable and Greece was doing better, so the situation regarding the latest conflicts are not something new to the area, like you say “the constant climate between Turkey” which was also worse compared to to now…

[@TMPOUZI]

I have many friens in public sector, they stay years there in a 6month contract by doing nothing. No I lied, the permanent staff use them to clock in their cards for fake overtime or regular time. With digitalization everything that needs actual proccesing by the public sector has created enormous delays, more than ever What military industry, we import even the screws. You are joking I think

[@michaelpenzikis1234]

Thank you. Most fair and accurate concise depiction of the last 15-16 years of the Greek economic journey. Well done.

[@nicolass155]

As a greek, i find it disingenous to compare the economy of today to just before the financial crisis, that was built on massive & unsustainable deficits& borrowing.

[@vmoses1979]

When an economy is deemed to have recovered from a financial crisis - it does have to go beyond its previous peak. Your comment would be akin to saying the USA is still successful where (hypothetically) it didn't go above the 2007 pre financial crisis gdp peak. You're just making excuses.

[@user-nq5ok7tn7u]

​@@vmoses1979i agree with both comments, of course and it is outrageous that 15 years after the original hit we are still in lower nominal gdp level than in 2009, but i think what nicolas is trying to say is that we cannot consider pre-2009 as "normal" times, or good times of prosperity , since this prosperity was built in the thinnest of foundations, namely huge borrowing. One should not consider a fake image of prosperity as target, but a new, sustainable way of economic growth.

[@kingtryfon5702]

@@vmoses1979 not really greece suffered multiple crisis so when we say greece has recovered we talk about the 2015 times reaching pre 2007 levels might happen in 2027

[@jimakisspd]

@@kingtryfon5702 It won't happen, that's for sure.

[@jimakisspd]

'', i find it disingenous to compare the economy of today to just before the financial crisis, that was built on massive & unsustainable deficits& borrowing.'' LOL you actually think that today there is no borrowing. Until the end of 2022 Greece had the greatest deficits and Greece still survives through borrowing.

[@georgerj2419]

The reality on the ground is very different. The income inequality is very high. Most of the people live hand to mouth.

[@unafacciaunarazza]

The numbers lie indeed. We have very low salaries compared to developing economies (23.000€ says in the video? I don't make as much in 3 years for example) and all products costs similar if not more as Germany who is economical advanced. Scratch that, you can find cheaper products in Germany than in Greece and Germany has double the salaries.... The truth is that the Euro might have brought some benefits but it crippled our households economy. 1 chewing gum pre-euro was like 5 drachmas something of the sort of 2 eurocents, when Euro was adopted it became 10 eurocents which is like 34 drachmas and today it is about 50 eurocents. Sure prices in gas/oil/fuel gone up and that drove products to be expensive as well but our salaries were reduced massively. I could understand if I see in my salary let's say "we keep you 300euros out of 1000 for the dept" but NOPE. I lose 300 for nothing! Just the owner of the company pockets the money. The company doesn't sell any less products, the price of the product doesn't go down. Just my salary and I want to stress this out, I lose a portion of my salary to nothing! That portion doesn't go to payout the dept. Last and not least, the "basic salary" as many other things is being implemented wrong. It is supposed to be a failure net, that if you are new at workforce and unskilled etc you can start with it BUT as Greek job owners always do, it doesn't matter how many degrees you have, it doesn't matter how many years of experience you have, they just bring you the paper of the basic salary. If you like it, you sign it. If you do not like, you die of starvation. Simply. Personally I am in a good job that doesn't pay me basic salary but now that the basic salary is going to increase, they do not want to talk about increasing my salary at all so I am in the process of looking elsewhere. Why work somewhere for basic salary but have all the responsibilities of the chief of my field? No point. For basic salary I can offer basic services as well. Fair right? So in this process of looking for new job, in the same field, in every single interview I had was always the same "we offer basic salary". For how long? Indefinitely. I can understand that as new in a company I can start with a lower salary but I need to know for how long am I going to be new and when I can ask a proper salary. The next economic bubble that is going to burst (and I hope soon) is rents. FFS! I used to rent in my area an apartment for about 300euros per month, now they ask 650 for the same thing! Try to live with 700euros salary and 650 euros rent. No electricity, no water, no food, no telecoms. Do not trust those numbers. The numbers might look good but the society is perhaps worse than the start of the eurocrisis era. I am sorry to burst your bubbles guys and girls and anything in-between but this is the truth and the truth is what the facts are.

[@npatch]

A friend of mine visited Norway in Xmas and told me two things mainly. He paid for 2 burgers and 2 drinks 45euros which seems to be normal there and that the cost of things in super markets is pretty much the same as in Greece. Also the other day another friend of mine who lives in London visited his family and jokingly called us out for not telling him to bring groceries from the UK because it’d be cheaper. Prices are going up on everything apart from salaries.

[@occupyscience-9479]

when they say Greece is doing good, ask "for whom?" Greece has been the target for an economic reform that realigns the country to the colonialist standard. In recent decades, the political system had been overtaken by two parties that played with the economy. Back in the '80 we had an industry (house appliances, textiles, ...) Struggling with low productivity (based on low investment of a peripheral country and a small market), there was a constant trend to devaluate the local currency. When, by political decision Greece was accepted in the eurozone, this had to come with hiding a 30bn USD debt into a goldman sachs 10 year bond. The bond was due in the 2010 decade. So everybody in the "smart money" knew what was the predicament. Nobody in Greece asks the question why the global crisis was in 2008 and the Greek crisis two years later? No the situation is not getting better for the working class. It is not getting better also for those in debt. Many loose their house. The investments are mainly in properties and not in productive activities. With the Syriza government, which was (namely) left leaning, the media system was scrutinising every decision and every law. Now the media (the oligarchs) are with the government and every criticism is suppressed. people turn their backs on politics believing that "nothing changes". We are living in a fake democracy and a half failed country. (so say also the EU parliament).

[@christakischristodoulou9026]

Excellent economics,he knows Very well the reality better than Same Greek economic 😮

[@CaptainRein]

Good day. I am from Greece. The reality of the most families is not so good. In fact is in lower level that in 2010-2011. As per my personal opinion this happen because Troika and our Governmenatl members during the eco crisis humilated and destroyed the small-midle families busines. How an economy could be come healthier for the comon people is based on turism and services factors? Unlucky for us, the most population, some governmenatl persons undertaken the most important eco factors for theirs selfs together with few ''serious'' businesmen and comit global interests. They destroyed also the families cultors.

[@mikepapa7303]

Although it is common practice to compare economy's pre-crisis figures with the post-crisis in this case is more less biased. Thats because Greece's figures before 2008 were not picturing its real economic power and potential. In other words we were consuming more and we were making less. So if there is a positive effect from crisis is that greece has finally met its real economic standars and it is way more "honest" towards anyone in economic terms

[@jimakisspd]

'' In other words we were consuming more and we were making less'' That's even more accurate now compared to back then. Back then there were still some services and businesses, after the austerities of the memorandums the government simply shares allowances for everything to consume for inflation.

[@kostman_]

Very nice video. I’d like to point out that in theory the Greek crisis lasted 10 years not 8 (2008-2018) when the memorandums expired. Practically Greece is still in economic crisis since he haven’t fully recovered yet

[@TheAristotelis7]

Actually that is not correct. The crisis technically stopped in 2016,because it doesn't depend on the memorandum but on macroeconomic factors: gdp growth and the balance sheet of the country. 2017 was the first year with a positive gdp growth and positive balance sheet, so this year is the first year after the crisis. Thus, 2016 is when the crisis technically stopped.

[@tejasbansal5780]

Interesting, could you please make a video on Argentina and Milei next?

[@tonylarsan2682]

You just described the current situation and some metrics, you didn't show if things are REALLY improving. What are the metrics for REAL improvement?

[@tsepzz4742]

As a Greek I can say that things are bad. The only way to go is upwards, which is happening at a very slow rate. Things could be much better

[@eladentopistevo]

Plain and simple. THIS ^^^^ period.

[@TMPOUZI]

Yeah good luck doing better with the oligarchies of fuel, energy, food and public sector having highjacked Greece. The only way the average Greek manages to get by month after month is by circulating plenty of black money in this corrupt market

[@dexteralso-4-]

How it goes slow if your economy runs double and triple times faster than other countries of eu? Stop crying!

[@arisspyrou1163]

Greece's most serious problem for the decades to come is demographics. The population is shrinking rapidly!

[@tomorrowneverdies567]

So? Iceland has a population of 300k and it is wealthier than Germany, which it has 84 million inhabitants inside it. So Ssmaller population does not necessarily mean that GDP per capita will decrease.

[@arisspyrou1163]

@tomorrowneverdies567 is the GDP the only indicator of a happy nation? You also need to understand greece's neighbourhood. Greece is bleeding economically in buying weapons as big muslim neighbour is constantly threatening... who is threatening Island?

[@tomorrowneverdies567]

@@arisspyrou1163 But what is so different, if Greece has 10 million inhabitants and Turkey 90, and if Greece has 300k inhabitants, and Turkey 90? Isn't 10 to 90 already small enough for you? And apart from this, why would Turkey attack Greece? And also, Turkey is not muslim. Turkey is a mostly atheistic country.

[@npatch]

@@tomorrowneverdies567 Turkiye has freedom of religion and is defined as a secular state but that doesn’t equate atheism. If anything more than 90% of its population is Muslim. If they weren’t they wouldn’t have endangered the unesco designation for hagia sophia by switching it from a museum back to a mosque by allowing people to destroy it by taking crumbs from its walls bc it holy.

[@tomorrowneverdies567]

@@npatch But how do/can you know that 90% of the population of Turkey are muslims? It was not the population of Turkey that turned Hagia Sofia to a mosque. It was the turkish government which did that.

[@eradens932]

NOTES: Shiping: a lot of them dont realy pay taxes cause they moved port. Unemployment: artificially low numbers, high resicle rate, most hire people for 6 months Living Expences: ....depresing...

[@butchilassomething3384]

I don't think this is an illusion but I think most of this economic growth will only succeed if it brings enough jobs for all the engineers and research degree holders that left Greece for a country that they could find a job with. Most Greeks I know outside of Greece are fully willing to return to Greece even for a lower wage if it means that they can get a stable job and life within their field as most Greeks are culturally bound to Greece on a sentimental level. But this is only if the investments last for long enough and are large enough so that people will once again start remigrating into Greece. This can only succeed if the people currently in Greece are willing to struggle through this and I cannot blame them if they are unwilling as they got hit with both the currently global economic decline in combination with the naturally struggles that are caused by the economic move New Democracy is making to make Greece more appealing.

[@christosserenidis9558]

From a statistical and fact presenting perspective this is the most accurate video about the Greek crisis in yt. The fiigures about the economy recession are 100% correct and the time frame as well. In all other videos there are minor to huge mistakes in that part. The content of the video describing the general situation in pretty accurate as well

[@JannyLuits]

Considering the shaky economy, I'm keen to know best, how people split their pay, how much of it goes into savings, spendings or investments. I’d be retiring/working much less in 5 years, and sometimes earn up to $160K per year, but nothing to show for it yet.

[@Joebiladen159.]

​ bravo! the whole markt has gone berserk now, almost not possible to outperform without expert guidance.. think your adviser would get on the phone with a newcomer? i'm in dire need of proper portfolio allocation ?

[@Joebiladen159.]

She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.

[@user-ds5kv7bu5j]

I discuss with my friends from univeristy if there is any reason to stay in Greece after graduation. Do you know what is the conclusion of this discussion every single time? "Apart from the good weather and the fact that our families live here, there are zero reasons to make us STAY". Especially in expanding fields like computer engineering, where you can find salaries 2-4 times bigger abroad. As a junior that is.

[@chriszavos]

Greece's economy is indeed thriving after a long period of uncertainty. Real estate, investments, highly-skilled and educated staff, those involved in tourism and transfers are finally getting what they deserve. However, those with very low qualifications, those who are disabled or pensioners are living a very poor life and it's definitely going to be worse and worse.

[@katerinamakrogamvraki3683]

Yes

[@eaglesnetwork3750]

yes

[@rontirisleonidas]

as a Greek i cant say that Greece's economy is getting better because the average salary is 820 euros and prices have been raised to God

[@billyr3238]

It's a lie that Greece's economy has improved. Simply don't forget that after 2032 the debt repayment will increase to 25 billion Euros at least annualy. Now we pay 7 billion annually for our debt and still struggle. That means more lending to repay our debt and it is simply a vicious circle.

[@EnellGmz]

If you need to pay rent then it is almost impossible to live with the minimum wage or slightly above... One home with 1 bedroom costs 350€ and the minimum wage is 650€... I get 800€ and live with my parents... At 26 years old....

[@oathkeepersapphirelands]

Totally

[@Aioloss6006]

Its true we live it

[@georgep1358]

its only tourism that is keeping Greece afloat but what is the government doing to improve tourism ?are there really facilities for tourists .....public toilets good transportation the local bus depo dates back to 1950 ( Ktel ) well run hotels ...... facilities at beaches,,,only if you go to the paid beaches otherwise facilities do not exist here in Greece ...the list goes on

[@InTimeTraveller]

The Greek shipping industry is one of the worst offenders in the Greek economy. The ship owners pay literally zero taxes to Greece by law and they have enough money to bribe enough politicians so that this never changes. Most of the crew onboard these cargo ships are foreigners as well, so there is very little economic benefit on the ground in Greece from the large fleet of the shipowners. There is a bit of economic activity related to shipping with the few fleet management companies that have offices in Greece and from the 3 big ports in Athens, Patras and Thessaloniki but those ports are also foreigned owned now so any money made there leaves Greece. The biggest impact of the Greek shipping industry (i.e. a few rich guys owning large fleets) is just the charity programs that some of them may establish (funding e.g. some cultural activities, scholarships, etc.). So I don't know where you got these figures of the shipping economic impact or how they were calculated but it doesn't seem to match the reality on the ground.

[@erkayberkant1828]

The GDP of Greece has still not reached the Level before 2008 crisis. So at least 16 years are wasted. And before the Crisis the situation in Greece was also not that shiny.

[@nightgirlgreece]

The gdp per capita of Greece is 24,5k to be accurate( close to 25k)

[@Trophonius]

Most economic analyzes about Greece's economic crisis they do not take into account a serious factor , that is called : Geopolitics ( economy and geopolitics, is directly Greek words either and not by "coincidence". I say that for a specific realistic reason, especially about economy...Those who created econony it is not possible to not know much about economy or not be good at that "sport". Some of the first coins in the world was created in Greece. In reality if we take consideration the larger scale of things the first coin, and economy to a larger scale. This deep experience and avant guard of Greeks in economy coninued until the Byzantine Cosmopolis - that was very rich, an economical superpower of the time, the first international market in the world with the first exchange system in the world like that of USA dollar, the way we mean that today. Most people don't know that this system originally comes from the Greek Byzantium. They were like the first capitalists "liberals" of the world. And then even throught the Ottoman empire) Most economic analyzes do this only when they refer to countries like China or the USA, as if the smaller countries in terms of economic power do not also play on the geopolitical chessboard. And anyone who thinks or doesn't take into account geopolitics, as if geopolitics has nothing to do with the economy of a country then he doesn't know much about geopolitics and at that sense not much about economy either So let's talk about real economics. That is, the one that takes into account the most important factor and is called: geopolitics and balances of more global powers. From that perspective, Greece does not have a good economy for one reason and only, and the rest follow from that naturally as an a cause and effect phenomena (corruption in the political system etc.) . Greece's politics from 1821 "independence" onwards with minor exceptions and periods, is not independent or it is controlled by foreign powers and interests, (basically from North Europe and Germany - it is simply called geopolitics ) and economics are formed with such competitive conditions that are not healthy or in favour for a country like Greece. Today, when capitalism has divorced from the political control of societies or from the societies to a large extent, and tends to be denationalized we are talking about International Markets, but this does not mean that yet the centers of the international markets again there are not in specific countries. They can shift between this centers of power but yet they are moving more between this centers. The general shape of things does not change much in its core : it is an exogenous factor from a society that largely determines things. As for the economic recovery in Greece, it does exist, it is real, but it happened in the middle of other global crises and this recovery is not very very evident in the everyday economy. On the other hand, to what extent this recovery after this economic crisis that denationalized Greece's economy to a large extent and let some of the minds and younger generations to migrate, different things which was equivalent to a kind of national disaster, will benefit the Greek people and nation, and nation - state themselves and not those who will come or came here to invest in Greece, and "buy" it or has already buy it a significant part of it, is somewhat in question and can be tricky and misleading.

[@Trophonius]

The most certain thing, however, according to the data so far, is that things are changing that way or the other in Greece , and Greece will change its status significantly in the coming years. So much so that most people won't believe it. There is a great emergence tendency of Greece that exist simultaneously with opposite forces. And the one is not not connected to the other, but it is more like the two sides of the same coin

[@panagiotis7946]

Οι λαοι της ανατολης ειχαν περισοτερο νομισματα χρυσα η αργυρα διατηρησης περιουσιας.Στις αρχαιες ελληνικες πολεις κρατη συμβαινει κατι κοσμογονικο,τα νομισματα των πολεων κρατων,ανταλασοντε μεταξυ τους σε ισοτιμιες,αυτο γινονταν απο τους ιερους ναους η απο ιδιωτες που ειναι και οι πρωτοι τραπεζιτες. Ακριβως επειδη ειχαμε ανεξατητα πολεις-κρατη Κορινθο,Αιγινα,Αθηνα,Αργος,Θηβα,Εφεσος,Χαλκιδα,κ.λ.π ιδιας ομογενειας,για αυτο τον λογο ηταν αναγνωρισμενα και ανταλαξημα τα νομισματα τους.Αυτο δεν μπορουσε να γινη φυσικα σε ενα αλλο συστημα διακηβερνησηςπ.χ στους Λυδους η Φρυγους διοτι δεν μπορει να υπαρχη ανταλαγη ισοτιμιας. Επισης υπηρχαν οι επιταγες μεταξυ των διαφορων ναων ανα την επικρατεια, ωστε να μην μεταφερετε χρημα απο τους εμπορους σε φυσικη μορφη.Επισης εχουμε τα πρωτα χρηματοοικονομικα δικαιωματα,τα λεγωμενα option σημερα,που ηταν η συνηθη μεθοδος κατασκευης και εμποριας πλοιων στην αρχαια Αθηνα ,Αιγινα,Κορινθο κ.λ.π.Τα πρωτα φανς,διαχειρησης περιουσιων, καθως και οι ασφαλειες των ναυλων,τετοιοι διαχειρηστες ηταν ο σοφιστης Αντισθενης η ο Πασιων.Αλλα το κυριοτερο ολων ειναι οτι ολα αυτα διεποντε και απο αντιστοιχη νομοθεσια που μπορουσες να προβης σε αγωγες στα δικαστηρια.Ενας τετοιος δικηγορος ηταν ο Λυσιας οπου στα εργα του περγραφωντε τετοιες οικονομικες διαφορες.Ειναι ολα απο την αρχαια Ελλαδα οχι το Βυζαντιο.Το Βυζαντιο ηταν ανατολητες φοροεισπρακτορε με την βια ,δεν μπορουσαν να ακολουθησουν την Βενετια και Γενουα στις τραπεζικες καινοτομιες για αυτο και παραχωρουσαν εμπορικα προνομοια και ειχαν τις καταθεσεις στις τραπεζες Μετιση.

[@Trophonius]

​​@@panagiotis7946Συμφωνώ στα περισσότερα που λέτε, ακριβώς σε αυτό αναφέρομαι όταν λέω ότι "δημιούργησαν την πρώτη οικονομία" κλπ. Πλην δεν συμφωνώ για το Βυζάντιο. Το ρωμαϊκό σύστημα συνέχισαν οι Έλληνες Βυζαντινοί που μάλιστα το εξέλιξαν ακολουθοντας το αρχαιοελληνικό σύστημα, αρχές και ιδέες (υπάρχουν πηγές και έρευνες για αυτά πλέον, που όλοι οι δυτικοί αποσιωπούσαν μέχρι τώρα, αλλά δεκάδες πλέον μελέτες ξεφυτρώνουν που δείχνουν ποια είναι η αλήθεια). Δεν γνωρίζετε πολλά για το οικονομικό σύστημα στο Ελληνικό Βυζάντιο, το οποίο είναι πιο εξελιγμένο ίσως ακόμη και από τους αρχαίους Έλληνες (σε μερικα εννοώ). Όλα τα άλλα είναι δυτική προπαγάνδα. Διαβάστε πχ - ένα παράδειγμα λέω - το βιβλίο της Αγγελικής Λάιου (ίσως η πιο κορυφαία μελετητής της οικονομίας του Βυζαντίου παγκοσμίως, αν και υπάρχουν και σε άλλους συγγραφείς κάποια πολύ σημαντικά στοιχεία που ίσως διαφεύγουν της Λάιου) "Το Βυζάντιο διδάσκει οικονομία" για να μάθετε την αλήθεια πέρα από την δυτική προπαγάνδα 12θειστων (και όχι ελλήνων παγανιστών) και άλλων. Οι Βυζαντινοί είναι από τους πρώτους καπιταλιστές και το σύστημα τους ήταν έτη φωτός πιο μπροστά σε πολλά πράγματα από τους τότε δυτικούς αλλά ακόμη και από το σημερινό, αλλά σε μερικά ακόμη και από τους αρχαίους (και για αυτό και ελάχιστοι δούλοι υπάρχουν στο Βυζάντιο, και αυτοί στην περιφέρεια της αυτοκρατορίας, οι Έλληνες Βυζαντινοί είναι οι πρώτοι που κατεργησαν την δουλεία και όχι οι "δυτικοί". ). Οι Λατίνοι από τους Βυζαντινούς τα πήραν όλα, και ούτε έχουν κάποιο ανώτερο σύστημα από το Βυζάντιο εκείνη την εποχή, δεν πήγανε στους αρχαίους ναούς , βλέπανε τις κολόνες και ξαφνικά "φωτιστικάν". Στους βυζαντινούς τα είδαν, αυτοί τους τα έμαθαν ,όπως οι Βυζαντινοί τους έδωσαν και την συντριπτική πλειοψηφία των αρχαίων ελληνικών κειμένων. Λόγω του Βυζαντίου έγινε και η Αναγέννηση και στους βυζαντινούς στηρίζετε όταν τους έδωσαν τα αρχαιοελληνικά κείμενα και τους δίδαξαν την αρχαία Ελλάδα. Οι Βυζαντινοί δεν είχανε ανάγκη από κάποια Αναγέννηση διότι δεν είχαν υποταχτεί ή διαβρωθεί απο βαρβαρικά φύλα (αυτό έγινε πολύ αργότερα), δεν είχε σπάσει η πολιτισμική αλυσίδα και σύνδεση με την αρχαία Ελλάδα. Δεν είχανε κάποια ανάγκη για "Αναγέννηση". Είναι άλλο θέμα εάν είχανε και διατηρούσαν ακόμη ως επίσημη θρησκεία την μονοθεϊστική θρησκεία και ο οποίος συντηρητισμός μπορεί να απορρέει από αυτό (και στην "Δύση" το ίδιο συνέβαινε) και άλλα τέτοια. Αυτά τα στοιχεία όμως έχουν υπερτινιστει και έχει αποκρυφτεί μια άλλη όψη άγνωστη του Βυζαντίου που είναι άκρως αρχαιοελληνιζουσα. Δεν έχει γίνει μεγαλύτερη ίσως ιστορική προπαγάνδα στον πλανήτη από αυτή για το Βυζάντιο (και αυτός σας το λέει κάποιος αρχαίολατρης και παγανιστής). Και υπάρχουν συγκεκριμένοι πολλοί σοβαροί λόγοι που έχει γίνει αυτή η μονόπλευρη απίστευτη προπαγάνδα.

[@Trophonius]

​@@panagiotis7946Αυτά περί Βυζαντίου που το αντιμετωπίζουν κάποιοι δυτικοί σαν κάποιο "εξωτικό" "μεσο- ανατολίτικο" "σκοταδιστικό" μη ελληνικό πολιτισμό, είναι μονόπλευρες μπούρδες στα πεντάγωνο όχι απλά στο τετράγωνο. Δεν κοιτάνε τα χάλια τους με τον Μεσαίωνα που είχαν (ο οποίος δεν υπάρχει ως τέτοιος στο Βυζάντιο ακριβώς διότι διατηρεί μια φυσική και όχι τεχνητή, ελληνική συνέχεια και συνέχεια με την μεσογειακή παράδοση, έστω και σαν υπόβαθρο)

[@Trophonius]

​​​@@panagiotis7946Όλη η λεγόμενη " Γενιά του 30" αυτό προσπάθησε να καταδείξει, την συνέχεια του Ελληνισμού και της Ελληνικότητας ακόμη και μέσα στο Βυζάντιο ακόμη και.μεσα στην Τουρκοκρατία, και να αντικρούσει την μονόπλευρη δυτική προπαγάνδα περί τάχα ασυνέχειας του Ελληνισμού. Ο ίδιος ο νομπελίστας μας ποιητής ο Οδυσσέας Ελύτης καταδεικνύει αυτή την συνέχεια, και όλα αυτά και μέσα από την ποίηση του αλλά και τα δοκίμια του. Τα βάζουν κάτω από το χαλακι όλα αυτά σήμερα. Η αντιμετώπιση του Βυζαντίου ως κάτι πλήρως "έξω - ελληνικό" είναι ανθελληνική ιδεολογική προκατάληψη, είτε γνωσιολογικα κενά και λάθη που έχει η Δύση επειδή δεν είναι φυσικά συνδεδεμένη όπως οι Έλληνες με τον τόπο τους και τις παραδόσεις του, και για άλλους πολλούς λόγους , ή προπαγάνδα και πολύ επικίνδυνη για την χώρα μας και τους Έλληνες. Άκρως επικίνδυνη και ανθελληνική(κατά και της ίδιας της αρχαία Ελλάδας εννοούμε και της Ευρώπης ακόμη και του Ευρωπαϊκού πνεύματος )

[@D4OPD4OPD4OP]

How can an economy prosper while the same debt that led to the crisis of 2008 is now 400 billion dolars, considerably more than than in 2008. Crisis is not over, here in Greece, dont forget that Greece was at the A+ rating in 2007-2008 and we all know how that went.

[@TheRealTopGunZ]

Yes.

[@andrewchron]

The greek shipping industry has almost all ships registered offshore , with a fraction of it (taxes, etc..) being paid back to greece , and even less on greek workers who are extremely underpaid compared to the billions the companies earn. Yeah , on paper it may sound like money is being circulated , but in reality the shipping industry is keeping all the money to itself

[@georgep1358]

The cost of living is far too high even the rents are over priced and the average salary of between 800 to 1500 if you lucky is not enough for a single person to survive .

[@nenapappas]

The average salary is 900 € or less and the expenses are massive , so I guess we are still miserable

[@thebloodyblackman]

I'm Greek ! Bravooo ! Super well done , accurate to the bone

[@nocomment2152]

Iq radikiou

[@heliosophist334]

That sun in the infographic at 2:00 should trigger PTSD for any greek above the age of 30 🤣

[@ephilippos]

Go Greece

[@ghost.trainer_ili]

Greece must develop the agriculture system and shoul invest in their own rich natural resources, but other eu countries won't allow it

[@gilberttello08]

👌👌👌

[@faidonsol]

Next Cyprus economy please 🙏 🇨🇾

[@nikosiderakis7105]

Cyprus listened to Troika and they got out of the crisis very fast, but Greece didn't.

[@limarismenos]

Ah yes, Greece. A country that went from having its own industry where it produced consumer products, chemicals and even vehicles and its people were prospering, to becoming a balkan banana Republic where the only future for its young people is becoming a server at a hotel or restaurant and for older people the only solution is emigration while the elite have become even more powerful and richer owning more property and paying less taxes while the common plebs have to live on ever shrinking salaries and being unable to even support and even create their own families. A country that was proud and had so much potential that became a failed state and a balkan Puerto Rico where it is forced to cede its sovereignty of its own islands to Turkey just to buy 6 month periods of political peace and quiet because its political class is so corrupt it will not even reinforce the country's national security in favour of giving out subsidies to people in order to buy off the electorate just to stay in power.

[@khushaljeevan1990]

🙏🙏

[@user-bf9vp4hl9l]

Το επιπεδο των αγγλικων μου μου επετρεψε να καταλαβω σε γενικες γραμμες, αλλα δεν ειδα καμμια αναφορα στο οτι οι εφοπλιστες χαιρουν ιδιαιτερων προνομιων (ειδικα σε θεματα φορολογιας) αλλα και οτι κατεχουν σχεδον το συνολο εημερωσης ( τηλεοπτικα καναλια, εφημεριδες κ.α.π). Συν το οτι καποιοι εχουν και συγγενικες σχεσεις ακομα και με τον πρωθυπουργο.

[@stephanosgreco2602]

It always takes many years of economic change before it reaches the public. The benchmarks show a stable recovery and increase in both service and manufacturing industries. The braindrain needs to be reversed by creating jobs for people with acceptable wages, in order to prevent the middle class from leaving.

[@wlfrm]

GDP is a misleading measurement that does not reflect the lower-middle class financial reality. I live and work in Athens for 20 years now and I've never been in such dire straits before. The price for rent, electricity and the basic necessities has over-doubled during the last years while the so-called investments do not benefit the majority of the locals. The advice "work more" is obviously of no use. I often think that the story of my generation is/will be "I was just working endlessly". Good luck.

[@DoctorGravity642]

3:36 My hometown 🤓

[@captainzeppos]

Αν πιστέψετε τα πρόβατα της Δεξιάς, τότε όλα πάνε καλά. Στην πραγματικότητα σχεδόν όλα τα σημαντικά πράγματα είναι χειρότερα σε σχέση με 5-6 χρόνια πριν.

[@rst4641]

Now, I am not Greek, but I know Greece since 1974 after the fall of the Greek Junta. Back then I was a young and not rich tourist (sleeping bag and hitch-hiking) from Central Europe. Greece was very different those days compared to now. It was very poor and very cheap (about 50% cheaper than Central Europe). Maybe I am not an average European, material things are not so important to me, perhaps this was the reason why I fell in love with Greece. Its people were much warmer than they are today. Well, mass tourism is spoiling people's attitudes and behaviour everywhere. I liked the simplicity (also due to the climate) of life a lot and I like swimming the most. After getting married to a Greek woman in 86 I moved over to Greece, where we still live today. Life in Greece depends on your job. If you are a doctor, a lawyer or a civil engineer you probably have no reason to complain. Even as a public servant - of course you won't become a millionaire - life is quite okay. I remember food (vegetables and fruit) prices in Athens at the weekly markets: 100 drx. Before closing they dropped even to 50 drx. (about 15 Cents). Before 2002 (introduction of the Euro) there existed many small businesses (clothes, shoes, etc.) in the country and they did very well, because imported goods were very expensive then. Young Greeks don't know this at all. Imported cars were very, very expensive, that's why there were many very old cars on the roads. When I moved to Greece in 87 I was able to bring in an new car (I did not have to pay consumer taxes in my home-country so the new car was very cheap) and I was a bit of ashamed with my fancy new car. Drivers stared at me thinking I must be a very rich guy, what I wasn't at all. In 2002 many things changed: Ordinary people could get cheap bank-credits, I remember banks were offering credit for cars, vacation and most importantly for housing constructions. Many touristic facilities were built then with cheap money, people bought European products they could afford now. For Greek products this was deadly. Many small producers had to close their businesses, cause they couldn't compete the foreign quality. Greeks were hungry for foreign products. And of course like everywhere else prices climbed up and do so since then. Now, wages in the private sector didn't change so much and of course unemployment was going up. In my opinion Greece was not ready to handle the challenges of the new currency and mostly not being able anymore to act independently in currency issues. So the Euro had positive (for the middle-class) and negative consequences (for the poor). Nevertheless, Greece has a better infrastructure (roads, airport) now, and the living standard is much higher for some - but not for all . Some things could be better though: An education system which does not depends so much on whether you are from a rich or poor family, higher wages in the private sector, less corruption and bureaucracy and politicians who really do care for the majority of people and the wellbeing of the country.

[@othonaszografos2734]

You missed the part of the huge inequalities that these kind of growth brought upon the greek People.

[@namrhoncus]

Greece reminds me a lot Portugal in economy.

[@TMPOUZI]

Similar situation but way more corrupt than in Portugal, that's why crisis hit Greece harder

[@keiththoma2559]

Has Greece made bureaucratic reforms? From what I understand Greece had a lot of restrictive rules that hurt economic growth in particular having closed professions which limited number of people working in sectors which seems like complete absurdity

[@user-nq5ok7tn7u]

Many of the bureaucratic obstacles have been overcome and greece is becoming a more economic friendly environment, however effort still has to be made in order to make the country easy to do business in.

[@SB-ath]

No bureaucratic reforms have been made and the new democracy doesnt seem to have the political will to do so, although they displayed a will for reform before the 2019 election. Greece ranks dead last in the ease of doing business index in the eu(78 at the last time i checked) due to the fact that even if the governing party seems to be pro business,it hasn't even started to change the tax and judiciary landscapes of the country. The tax system is a progressive one, with a high regard of "indirect" taxes (noone knows what that even means) and the judicial system is battled with corruption and is so slow that cases even take 30 or so years to be resolved. Except from these matters, there is also 1) the huge problem with corruption(many home grown big "enterpreneurs" are hugely dependant on goverment money and illegal activities and politician have interests on many of those conglomerates), which makes the competition unjust, 2) the fact that the mitsotakis cabinet is huge on social benefits (every week a new one is being presented), which raises inflation, and makes many greeks to not even try to get low wage jobs and 3) the technological developments in greece are very slow(a very slow internet, maybe the worst in europe and a slow technological intergration of state-owned enterprices like municipal services). If you are to compare a country in the eu with greece its portugal. However there is a huge difference there: the political landscape. In greece no party, from the communist party to the greek solution advocates for economic liberalism. In fact, no party since 1981(if my facts are straight), with presence in the parliament has advocated for free market reforms. So there a huge political gap in greek politics that rarely is being talked about in greek media. In contrast, in portugal there are three parties i reckon with free market reforms in their program ( social democratic, initiatiativa liberal and chega) with presence in the parliament. This gap in greek politics is what makes me extremely pessimistic about the future of my country.

[@ArnavTHR]

Such high quality content at such low subs You deserve way more

[@johnl.7754]

Hopefully this comment helps

[@ragegamer465]

Guys what you hear in this video is far from the average everyday Greek citizen , I have my family there and I really do know how the Greek economy is doing . Only truth

[@alexb.1372]

Before i see the video ,the answers is yes ...

[@BasketballJunkie1324]

7/10 households in Greece make income that only lasts them 19 of the month's 30 days . Recent study. But some youtube people will try to convince you that Greek economy is doing well.... It's like you are getting paid. There is something really sinister about this.

[@superKOEImania]

rapid growth was a natural outcome after huge economic crisis and the lockdown, not an outcome of austerity. Debt to gdp ratio improved because of inflation. Greek bonds having a better rating because ECB guarantees they will buy them if Greece can't repay debtors. The situation is about politics of EU and geopolitics of NATO more so than greek economic sustainability

[@michaelvassilopanagos4462]

Inflation eats debt * Shipping industry is not related to Greek Economy, ship owners use foreign flags

[@Mirrorverse1949]

I am not gonna watch a 13 minutes video explaining to me either if my country does good or not on the economy point of view. And, sincerely, I suggest to all the watchers to do so. Statement based on an american news video i scrolled yesterday, i believe, of a host stating that "Greece has been "cured" from the economy problems which was facing all these years. The fact is this. I work my ass off 40 hours/week just to get 666 euros/month. Rent 300, groceries 200, metro tickets 28, bills 150, gas 50... At this point i am down on 62 euros. My list goes on, so as my debt every month. And i do not have a child. Unfortunately, i lost this right years ago when another prime minister of Greece was yelling "There is money. Lots of millions of money". So the question now is: "Is Greece's Economy Really Improving?"

[@yannisb2178]

This video is completely misleading. Greek economy doesn't grow. It recovers. GDP hasn't reached pre-pandemic levels. You say unemployment has fallen but then you talk about brain drain. Brain drain is the reason why unemployment has fallen in Greece. Also Greece is a developing country. It's completely nonsense to compare it with a developed country such as Germany. It's sustained growth vs catch up growth. If you compare Greece's growth with similar countries such as Latvia, Bulgaria etc you'll see that Greece is falling behind. About job opportunities, Microsoft is creating data centre. There are no real job on a data centre other than some IT guys for maintenance. The legislation around employment is not democratic at all and people choose to leave Greece rather than stay and work with no right. That's there are a lot of vacancies but no people to fill them with. Cost of living in Greece is the highest in EU while wages are the lowest. All in all Greece is in a worse state that it was in 2015 because even though they economy grows (very slowly) people struggle to make ends meet

[@chsimit]

Greek shipping pays no taxes to Greece. There is no productive investment in industry, not even shipyards, just real estate deals.

[@davisoaresalves5179]

I think that after years of a depressed economy. Greece has low prices, like assets and labour whichs attracts investors. Not to mention that it has underutilized capacity. Starting from a low base, thus the growth.

[@kkmspm]

poverty in greece rised a lot on 2008 and keeps rising. :( just poverty for the most of the people.....

[@godtable]

We lived in an economic babble for many years, (before my time, unfortunately) then we had a basically bankrupt economy shrinking as nobody was lending us more money. Now the started lending money again, backed up by the EU. Small businesses the majority of businesses in Greece are closing like there is no tomorrow, the Media and the Justice systems are in the back pocket of the Government (Allegedly). And The only Businesses thriving like crazy are the Energy sector, the banks, the Loan -spars and some infrastructure companies, Who have friends in the government (Allegedly). The shipping industry is not much different, but they barely contribute any taxes at all so, there is that.(Allegedly). Too many people died to bring these kinds of things to light, newspapers are writing about haunted ships now, because there is no way it's something else going on (Allegedly). There is a party going on and we aren't in it. Allegedly

[@Turricani]

The GDP is growing, unemployment is decreasing, while Debt/GDP and Credit Ratings are both improving... additionally, the Greek stock-market is performing like a rocket in recent years... however, inflation is the real problem for the local population... inflation is eating the average wages and the purchasing power of the people... that explains a lot the pessimism of the Greeks in the comments below

[@zackgravity7284]

now only if italy and spain can follow their example

Yea

[@fsn8516]

In eight years, as it will end in 2032 and enter in 2033, Greece will be faced with a problem that goes back to its memorandum past: the public debt will suddenly be burdened with an amount of 25 billion euro. 25 billion euros, or 8% of GDP, which the country will then have, as the interest on loans from 2013, which were frozen for almost two decades as part of debt relief arrangements with its European creditors, will be added to it. This means that in the coming years, after 2032, the country will pay higher interest rates to repay this new debt, while its debt servicing costs will also be burdened by the transition from the low interest rates of official sector loans (1.5%) to those of the market, to which it is already increasingly resorting.

[@TMPOUZI]

Not really, it's all in papers. Trust me I'm Greek, vast majority suffers big time

[@rackhir100]

I have to say that i am really annoyed by the superficiality of this video. Using a few cherry picked metrics to describe an economy as a whole is really misleading. First of all, recieving investment ranks is a political decision and has little to do with the economy. The economy bouncing back from covid along with the severe inflation is driving the Gdp up and it will normallize along with it. You call an economy successful when it's gdp is up while the average household has half the wealth it did in 2012? Or is it successful when minimum pay is 660 euro for the last 15 years while the cost of life has doubled? Should i mention all assets have been sold to private invenstors? Do your research first.

[@PotatoGodzilla]

New big companies open small branches in Greece because greeks get paid smaller salaries than any other country, it's called outsourcing and it's a joke. Cost of living is sky high with greeks need to pay up to 60%-70% of their salary only for rent making it impossible to live, in 2017 rent was 30%-40% of the average salary for better homes. If the economy is booming (which is not) greeks don't see none of it. A lot of greeks moved back with their parents and have to do different jobs of what their degree is because there are none.

[@juniperp8650]

I managed to watch this inaccuracy for only a minute. Had to stop once I heard "limited natural resources". Seriously? Seriously??

[@benchoflemons398]

Greece never had austerity on a per capita basis, Germany did but not Greece or Italy.

[@user-vu9sd6lx1o]

That analyzation expresses us as a nation pretty well !..👏🇬🇷