The Rather Pathetic Economy Of Greece

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#Greece #Economy #Greek

[@ganglmichael6314]

The pantheon is in Rome, the Parthenon is in Athens

[@bitter_truth8646]

Both are Greek names though

[@ommanipadmehung3014]

Pantheon is a greek concept - the pantheon of gods

[@Pan472]

Well, that on its own is an indicator of not taking this video seriously.

[@supermavro6072]

There many historical ruins in greece, and our economy is the biggest one.

[@nicolaskrinis7614]

Nothing is "Roman", it is all Greek. Even the alphabet of the Romans is from an alphabet used in Kimi, whose people migrated to other nearby lands.

[@Stankful]

Greece, you can not take our spot as a poorest country yet.. Greetings from Bulgaria.

[@gg2324]

Jokes on you, as a turk we're not even in europe

[@tsubadaikhan6332]

*Argentina enters the chat...

[@Pan472]

Well, we're behind Romania, Croatia, Hungary and Poland, so...

[@user-um9qe8yz4m]

We are trying hard...😀Greetings from Greece!

[@supermavro6072]

the poorest is bossnia

[@thanosandnobill3789]

Pantheon is in Rome not Greece and Slovakia was never Soviet. Who the f did the research for this video? An AI? As for the analysis itself has the depth of a tiktok video.

[@sifridbassoon]

Oh please! Slovakia wasn't even independent until it broke from Czechoslovakia. And Czechoslovakia most definitely WAS Soviet until the collapse of the Soviet Union.

[@NYAndreas]

While Czechoslovakia was not part of the USSR, it was a Soviet puppet state between 1948 and 1989. The USSR kept the country under its thumb and did not hesitate to invade Czechoslovakia in 1968, in order to stop liberalization efforts after Prague spring.

[@AnastasiosMiller]

Slovakia was a puppet state of the USSR, this means that it was ruled from the Soviet Union. As for the pantheon, it was bloody greek. Even the word "pantheon" comes for the greek and the Roman gods are greek words with Roman name, like Mars is Ares and Jupiter is Zeus! Did you even searched before commenting?

[@SnowWhiteArches]

it was never soviet because it was not a part of SOVIET UNION. it was controlled and kinda "colonised" by it but it was never part of it! it's like saying that todays Belarus is in fact Russia@@sifridbassoon

[@LMB222]

That's a detail not really relevant to the subject matter.

[@Pan472]

There's one serious inaccuracy, for which an article from 14 years ago was cited: tax evasion in Greece isn't nearly as big as it once was. Only about 10% of the population at most tax evades, because most don't even belong in categories of the workforce that can tax avoid to begin with. The Tax Authority will literally shut down your business if you don't have a POS terminal and won't cut a single receipt, either permanently or for a week. As for the pensions and salaries, no, they're far too low for the current cost of living which is disproportionately high for the income. Just buying food has become significantly harder, especially certain commodities such as dairy products. Decreasing salaries and pensions would make things much worse. For the GDP per capita, you literally cut down five other countries from the graph for the EU, which are poorer. With the difference being quite sizeable. We're not the poorest at all. This video is full of inaccuracies it's livid. We have a lot of troubles, but what you're mentioning are outdated ones, dating to the crisis. The Greek economy faces significantly different problems at the moment.

[@stratos9212]

Φίλε μου ποιες είναι οι ανακρίβειες? Το μόνο που δεν ξέρω που αναφέρει είναι περι ζόμπι εταιριών. Σε ολα τα υπόλοιπα είναι μέσα ο τύπος

[@Pan472]

@@stratos9212 Μόνο που δεν είναι μέσα. Οι συντάξεις και οι μισθοί είναι υπερβολικά υψηλοί; Η φοροδιαφυγή που σου κλείνουν το μαγαζί αν δεν έχεις POS ή εάν δεν κόβεις μια απόδειξη, και που οι περισσότεροι πληρώνουν σχεδόν όλες τις συναλλαγές τους με κάρτα; Για το εισόδημα όπου στο γράφημα στην αρχή του βίντεο έκανε crop 5 άλλες χώρες που ήταν πιο κάτω από εμάς; Οι εταιρείες ζόμπι τον μάραναν... Που οι περισσότερες έχουν χρεοκοπήσει. Φίλε, άσε καλύτερα, είσαι εκτός πραγματικότητας. Η ελληνική οικονομία αντιμετωπίζει πολύ διαφορετικά προβλήματα, και αυτά σχετίζονται με το κόστος διαβίωσης και την ακρίβεια σχεδόν εξ ολοκλήρου.

[@Pan472]

​​@@stratos9212η φοροδιαφυγή πλέον είναι κυριολεκτικά ανύπαρκτη. Πλέον αν δεν έχεις POS ή αν δεν κόβεις αποδείξεις, θα σου κλείσουν την επιχείρηση. Οι συντάξεις και οι μισθοί ΔΕΝ είναι υψηλότεροι από αυτό που πρέπει και λόγω της ακρίβειας το ξέρεις πολύ καλά ότι λέει βλακείες ο τύπος. Μετά παρέθεσε ένα γράφημα όπου έκοψε άλλες 5 χώρες της Ένωσης που είναι πολύ φτωχότερες από εμάς (Πολωνία, Ουγγαρία, Ρουμανία, Βουλγαρία, Κροατία). Σε τι ήταν ακριβής;

[@Phosphoreus]

It’s a video this channel has made numerous times in the past 10 years

[@athlitikosomateioanth4567]

@@Phosphoreus still nowadays it is outdated as the data have changed.

[@PontifexMaximus11439]

Η ανάλυση είναι από τα Lidl. Ό,τι θέλει ο καθένας λέει.

[@pablogomesoliveira2677]

όπως τα λες φίλε

[@nikos7g7r7awp2]

True 😂

[@StySiddhi]

Greece is not the poorest country of the Eurozone ! Its GDP / capita is c.a. US$ 23,000 for 2023, whereas it is c.a. US$ 20,000 for Croatia ! Revise your data as it casts a doubt on the rest of what you say !

[@UNr34]

I'm guessing these are slightly older figures, Croatia only joined the eurozone I think last year. Anyway does it really matter if it's the first poorest, or second poorest and almost tied with a country that had a war in the 90s?

[@Phosphoreus]

Yes it does matter, but thanks for asking

[@Pan472]

Not only Croatia. Bulgaria has a GDP per capita of 16.000$. Romania has 18.000$. Hungary 21.000$. Poland at 22.000$. Slovakia is similar to us. This guy uses wildly inaccurate data.

[@StySiddhi]

@@Pan472 These countries are not part of the Eurozone, do not have the Euro as their national currency. I had checked as he spoke of the "poorest of the Eurozone".

[@domenstrmsek5625]

@@Pan472 Greece declined from 30.000 to 23.000$ .Your comparisons are ashamed for Greece because it was better than a country like Estonia, Cyprus and Slovenia, and just as rich as Spain.

[@sk00pidis]

Bro, I live in Greece, and I really struggle to understand how these charts and numbers are sourced. This country is going to suffer heavily on by the next election cycle. It is a wonderland for the rich tourist and bussinessmen , especially the real estate ones. The Greeks are being priced out of life here, slowly and painfully.

[@Guilherme-nc5li]

Same in Portugal. The south needs to wake up

[@sophiewanlin8612]

French here, we're always the "poor" of someone's else. Here in France, rich foreigners (Emirate, Qataris, Chinese, etc) are buying houses like hell and French people can't afford to live in the city. They go to the suburbs. And what will I do myself? For retirement, I'll buy somewhere in Greece, Portugal or Spain where life is cheaper. Etsi einai h zwh, kamia isorropia ston kosmo. antimetwpiste to!

[@namelesswarrior4760]

shows like this and Simon Whistler's shows are only catered for Americans. So, they can just lies, cos Americans will just lap up like simple jacks.

[@skp8748]

​@@sophiewanlin8612it's called neoliberalism

[@baronvonjo1929]

Same thing here in the USA. I'm amazed the stats say we are doing well when everyone I know of all ages isn't except the few older folks who had very successful careers. I've tried getting my foot in the door for several entry level jobs but nothing and based off social media it seems common not getting hired despite the abundance of job openings. And then good luck finding a job that pays over 40k when houses cost 200k. This country is going down hill.

[@panoskoutelas9542]

Some data are true but some other data are outdated or inaccurate. In any case I found the video a bit biased. The real reason why we voted for Syriza, twice, was because we wanted change, we wanted to end corruption, we wanted justice, regardless the economic management. Nothing happened. Now we voted twice for Mitsotakis, although his party is directly responsible for the bankruptcy in the first place, because there is no alternative and the financial elite along with the media have plummeted our democratic values.

[@christianchellis9057]

Why do the most beautiful places have the worse economies?

[@OPMDK]

Incentive, not much of one when 6 months of the year isn’t inundated with ice and snow

[@okman9684]

Its the cycle of civilization As the Roman says Bad times make strong men, Strong men bring Good times, Good times make Weak men, Weak men bring Bad times

[@seanlander9321]

Dunno, but Australians would disagree 😏

[@KRS-ro6oi]

Norway disagree!

[@jdjphotographynl]

Because those beautiful places mostly bank on tourism and not much (if anything) else, it's that lack of diversification that bites them in the end.

[@geokon3]

You hit the nail on the head. Most Greeks don't know it, but the problem with zombie companies is real and its really unhealthy for the economy. Something must be done to increase productivity in this country

[@NickSteffen]

Yea, I always wonder how much this is a cause or symptom (most things are both to varying degrees) On one hand the video is right, absorbing capital from the market into unprofitable businesses is terrible, but on the other hand, a decent portion are probably unprofitable because the economy is terrible and they are given capital to keep their workers employed (and buying things). If they went out of business consumers would have even less money and it would make the economy even worse and turn non-zombies into zombies in the short term at least. It’s a chicken and the egg problem. Once you have zombies it’s not simple to get rid of them.

[@strix4614]

Αρχιδια, μπερδεύτηκε απτά μαγειρεμένα στατιστικά όπως οι άλλοτε ημέτεροι.

[@Pan472]

No offense... But are zombie companies, most of which are now already defunct, the problem, or the cost of living that has decreased the purchase power parity of Greeks and are now endangering all other possible positive developments?

[@geokon3]

@@Pan472 The increase in the cost of living has only emphasized the problem that already exists in the laws and the way things are done in Greece. There are a lot of companies that don't pay their electricity/suppliers/employees, some or all of them, and they can simply get away with it because pursuing legal action is too complicated/cost prohibitive. Positive developments are hindered by the laws that favor small companies and prevent them from growing because of the cost that entails, so most of the economy is run from small companies that can't benefit from economies of scale. Some positive steps have been taken from the current government, but let's take them with a grain of salt and see where this is going

[@Pan472]

@@geokon3 You literally sound like a government paid troll. Whatever you said doesn't correspond at all to reality. Bigger companies and multinationals are the ones not paying A DIME to the state. Half of the lost tax revenue is from multinational companies and domestic companies employing more than 500 people. Aka, a very small portion of all businesses in the country. Greece has barely more small businesses and share of economic activity than other EU member states. The problem isn't small businesses. But the state. Which regulates nothing correctly or more accurately, as it should have regulated it. You're telling me it can't impose real fines and sanctions against multinationals who sell the exact same brands of powdered milk for babies in Greece in much higher prices than all other EU member states. You're telling me that FrieslandCompania can sell the exact same powdered milk for 9€ in Sweden, and for 26€ in Greece uncontrolled, and it's the Greek citizens' fault?

[@NikolaiPavlov..]

Fake news pensions? Dude my mother taking 400$ pension are you kidding me at 67 year old

[@Rasarel]

Average pension in Greece in 2009: 1350 EUR That's like the highest in the world 😅 some doctors and lawyers have 2000-3000 EUR pension a month😂 of course some people have only 400 but many have way too much

[@spellplague]

@@Rasarel 2009 was 15 ago try to find fresh sources and figures lol

[@Rasarel]

@@spellplague what do you mean? Topic is why Greece suffered financial crisis. That was before 2009 not now... Logic

[@spellplague]

@@Rasarel We are aware that they suffered crisis (along the entire planet following US crisis) I believe the vid is related to the current situation rather than the past

[@Rasarel]

@@spellplague I lived in Greece for 7 years and one from each eight families has been taking pension of an already 20 years ago deceased grandfather....

[@vitoanania6042]

of course the debt was the main cause but you overlooked the unbalance brought to adopt the Euro (a currency too strong for their economy) and the detrimental long-term effect of cutting public spending for education healthcare and production stimulus. untargeted austerity is considered to have been a mistake even by important European politicians

[@UNr34]

He did say that pensions suck up a disproportionate amount of the budget that could be used on other more productive things.

[@Pan472]

​@@UNr34Except he used very, very outdated data. They really don't anymore. And whatever level they're on isn't enough due to the risen cost of living.

[@UNr34]

@@Pan472 Then you need to fix the cost of living. Greece is way too expensive than what it can support. It has similar GDP per capita to the poorest eastern European countries but the prices are close to the European average

[@Pan472]

@@UNr34 Well, our GDP per capita is still much higher than most Eastern European countries (despite him citing a graph cutting a further 5 countries from the graph that were significantly lower than us). The prices here aren't in the EU's average. But higher than that in many many products. Especially in hardware, equipment, and half of all edible goods.

[@user-nq5ok7tn7u]

​@@UNr34 thats true, im a greek living in Netherlands and prices are the same while avg salaries here are 3 times higher

[@dougpatterson7494]

I hope Greece makes it through their economic struggles. Lower taxes but a greater proportion of people and companies paying them will certainly help. Also public spending like pension expenses Need to be scaled back.

[@djgeorgetsagkadopoulos]

That portion of the video is quite misleading. Greece pays a big proportion of it's GDP on pensions, yes, but the individual pensions are not high to cut them even more. It's a strange situation, where a lot of younger, highly educated people that could work and therefore support the pension system have left the country during the crisis (brain drain), and now Greece has been left with a mass older population that needs to be supported financially. Greece pays small pensions to a lot of people, not big pensions to a few people. Generally speaking, the video was misleading in other areas as well. Half trues, half lies to be honest. Like if someone was not bothered to do the research. Greece lost almost 2 generations of highly educated workers due to the crisis. This makes not only financing the pension system a hard problem, but also has a huge impact on the economy growth onto the future. The "high skilled" young people that could create new jobs, invest in new technologies, take risks e.t.c. are no longer present in the work force. IF (and only if) the economy is able to grow somewhat acceptably until the next generation (children born in the middle of the crisis) makes it to their productive age, only then Greece can hope that it can have an increased rate of growth again, and solve it's remaining problems.

[@georgios_5342]

​@@djgeorgetsagkadopoulos A solution to this would be if the EU agreed to a shared pensions fund, so Greeks who work in Germany can pay a part of their taxes to help their country of origin

[@tomzamp8547]

Nothing ever changes in Greece corruption and bureaucracy rule and always will

[@nihil_hd1598]

@@georgios_5342 Why should they do it? If greeks are using German infrastructure they should pay german taxes

[@dougpatterson7494]

@@georgios_5342 I agree with this. If not a European wide pension system still require expats to pay into the pension system of their home country.

[@costasyiannourakos6963]

Your facts are far from substantiated in terms of reality. Greek pensions are hardly enough to survive for the majority of people.

[@youcantata]

Greece needs new modern industry other than tourism or shipping industry, like EV car or robotics or renewable energy or health care.

[@espanner97]

It has. Drones and new defence products have been developed in Greece.

[@vask3863]

Greece until the early 90's had a huge industry sector. Most of those companies went bankrupt or went to former eastern Bloc and China (cheaper labor cost). Since the last couple of years, they are slowly coming back. One of the biggest battery producers in Europe is building a factory in Greece.

[@user-nq5ok7tn7u]

​@@espanner97 that's true, defence industry was literally destroyed but it is building up again, and since we do have huge defence bugdet this sector could become a true asset for greek Economy

[@Pan472]

Except it does. We do construct drones now, and the shipbuilding industry is being revived.

[@user-nq5ok7tn7u]

@@Pan472 also the upgrade of the f-16 fleet is currently happening in greece

[@ypruss]

My country is like the "Find the Ball Cup Game!". Easy to guess which cup the ball (economy in this case) is under until you bet on the layout.

[@glennnielsen8054]

An interesting parallel is that if you compare with Italy, France and Spain today, it is not just national banks that would have problems as in Greece, but also the ECB, which has diligently hoarded these countries' government bonds to lower interest rates and create inflation.

[@k4mik4tz3]

Greece has managed to turn things around in the eyes of investors in recent years. All major economic indicators are positive, and the stock market index has been a strong performer. So, the trend is right. The challenge for the coming years will be to ensure that this is genuinely felt by the people. After all the bad years, Greece can enter a phase of growth, but they are not immune to global shocks, and the government must not abandon its course of reform.

[@GeorgeTziampazis]

Hahaha. Nice one! We were hearing the same joke before the financial crisis. Similar praise back then. Greece is a zombie economy with neither structural reforms nor material investments since the crisis. Just blah blah blah. Claiming that a horse can run, does not mean it actually can. Crisis should have been a reality slap to the Greeks and an opportunity for radical changes. More than a decade after, and here we are, at the bottom of EU figures.

[@Khneefer]

0:47 - Slovakia was not part of soviet union.

[@honeybadger7002]

Well.... you are RIGHT 😉but it was a puppet state of the Soviet Union, hence why most folks think it was part of it, but it was never actually part of the Soviet Union in true sense per-say 😋

[@BrownBombero7]

And neither was Latvia or else the Channel Islands were German in the early 1940s, too

[@calebbearup4282]

I just had to double check a map to make sure but I thought that the following were all areas under Soviet control. Poland East Germany Austria, Hungary, Ukraine, Czechia, Romania Bulgaria. So I'm confused now how half of what was once a country that was under Soviet control can be called somewhere that wasn't

[@BrownBombero7]

@@calebbearup4282 "under Soviet control" is a very good way to describe most of those and other countries (although only part of Austria was ever under Soviet control). Similarly, when talking about Iraq in 2003, saying "Iraq was an American state" would raise eyebrows, but saying "Iraq was under American control" would be just fine

[@calebbearup4282]

@@Crying-Croc you're correct. My bad. I guess I was lumping Warsaw pact into the USSR

[@storiesandrecollections]

Everyone in Greece is a millionaire. That's because of the great climate which is worth a lot. Northerners spend a lot of money to get a few days in Greece.

[@egg174]

Greece is the word that you've heard

[@airbnbhomeincreteislandcha952]

Bro are you serious Greece is going well

[@cristianfamigliuolo]

Politicians are inversely proportional to the economic success of a nation 😂😂

[@josephlombardo1267]

It's astounding how similar issues occur in Italy and Spain (and to some extent to France). The Eurozone system is designed around the central-northern economies which are admittedly better but it is so hard for a population to adapt. Countries should probably be allowed to leave the Euro adjust their system to make it compatible and then have regulations enforced to keep it compliant from Brussels. Convergence is still a long way to go...

[@JaTi-kz6hx]

No one is keeping Italy from being in the Eurozone and leaving it. The old ones remember what it was like when there was Lira and what the inflation was like.

[@josephlombardo1267]

I did not mean it was better before but countries that joined right away were not asked to adapt their countries/economies to the Eurozone conditions like it is being required to new members. BTW - Most "old (Italian) ones" think that euro ruined Italy@@JaTi-kz6hx

[@Joe-cb6ex]

"Which are admittedly better." Not sure what that means, lol. Virtually all Southern & Eastern European countries have higher GDP Portugal, Poland, Latvia, Bulgaria, Romania, Croatia, Hungary, Greece, & Spain ALL have higher labor productivity & labor utilization, and either have higher or equal levels of GDP per hours worked (source: OECD). Clearly, as you say, the Eurozone is working precisely as intended: to benefit a small number of Northern European countries at the expense of their Southern & Eastern European counterparts.

[@josephlombardo1267]

@@Joe-cb6ex can you please share the specific link from OECD showing those data? Curious to see them. Anyway I'm proudly Italian but can't deny its flaws and other countries' merit. I don't fully understand people who keep finding others' conjuries to explain our own issues...

[@Phosphoreus]

The video starts at 14.10 Before that it’s the same salacious and shallow reportage this channel has used over several videos on the same topic. I say salacious because the tropes are borderline racist, and I say shallow because there is very little analysis, just blaming…, from a corporatist, neoliberal perspective.

[@espanner97]

He said Pantheon instead of Parthenon

[@darealgodzilla]

He made a lot of mistakes which question his credibility. Also this is pro-liberal propaganda.

[@geokon3]

@@darealgodzilla It is funny how the word "liberal" means left-wing if you are from the USA and right-wing if you are from Europe. Very confusing in a comment section with worldwide viewers

[@dimitrisoikonomou4749]

Accent, he said parthenon

[@LMB222]

How's that relevant to the subject matter?

[@espanner97]

@@LMB222 He couldn't even get a name right

[@user-ip7ws1li6c]

SO HOW CAN YOU CALL IT POOR

[@diamonddino7024]

I feel that its telling that the achievement that are listed off. At the start of the video happened 2000 ish years ago.

[@evansstenakis7424]

Because companies have to pay so much money to lend off employees, they force them to resign in order not to pay them.

[@dimitrispsaltis7249]

Relax my friend. Greece is more than numbers.

[@strix4614]

Please report this for misinformation, if that's not it i don't know what it is..

[@glennnielsen8054]

In my view, one of the main causes of the kind of crisis described here is the inherent flaws in democracy. Democracy is for the majority and it is tempting to "buy" votes from the majority at the expense of the minority. It has a natural limitation and thus conclusion. Small decentralized countries are more successful than large centrally governed countries.

[@Zaxos123]

These statements that you make are highly debatable, was this video made 10 years ago? A lot have changed since then.

[@LMB222]

For worse?

[@thanasis-_-]

All of Europe is declining

[@MrPro897]

2021 is not exactly a typical year to assess government spending, this was done in the midst of COVID pandemic response, with huge relief efforts. In fact Greece has reduced its debt by some 50% of GDP the past 4 years.

[@justsauce391]

In Greece companies do NOT pay the layoffs, because they say that u left and there is nothing u can do about it.

[@CityMeme]

The Pantheon?

[@mappamondo555]

If you are interested on this topic, I suggest the documentary film Laboratory Greece. Unmissable. Absolutely superlative.

[@churchofsatanalbania1468]

I notice many videos and articles promote Greece's economical growth..In my opinion all these videos,articles etc are paid by the Greek goverment..The truth is for us people that live in Greece everything is way worse than some years ago..Today everything costs much more expensive and the wages are exactly the same and have improved probably with 40-50 euros more..Sad reality.

[@pb_8206]

Slovak soviet republic WOW you reach new low.

[@elenaziataki8271]

How did you manage to fit so many inaccuracies in just 15 minutes? My hat is off sir

[@mauricegoqwana8436]

may you also talk about South Africa. The last time VP talked of RSA was when Simon Whistler was still part of it

[@diaamuharam6602]

What about the Egyptian economy? Any luck you would produce an episode about it?

[@Drewbinsky69]

The economy of Greece has done pretty good in 2022 and 2023 if they continue like this it could turn out very well for the country!

[@user-sf4ps3si7m]

yes yes yes

[@JoeRogansGutBiome]

Easyjet CEO is known

[@maxsogan5177]

gl Greece with debt - thoughts and prayers

[@JmKrokY]

0:45 You map lacks Croatia, a country that has been a Euro zone member for over a year now, and no, Slovakia is not a former Soviet country, it was part of its own country called Czechoslovakia which *was* a Soviet ally but was definetly not a part of the USSR. How can someone trust this channel when they make *2* pretty big errors in a span of less than 10 seconds...

[@FlamingBasketballClub]

Hope Sparring DK (FIFA KZbinr) scouts Kyrgyzstan for his current Youth Academy career mode series on EAFC 24. 🇰🇬

[@Zaxos123]

It's funny that its 2024 now, but all your data come from 5-10 years ago. Is this a setup?

[@user-of2lb7ek7b]

Take my word as a greek, he doesn't really lies 👍👍👍

[@DoctorGravity642]

This video should have been released 15 years ago... Now Greek economy is doing much better.

[@biljanarajs5461]

Greece is the poorest... Somebody forgot Croatia...

[@JaTi-kz6hx]

Imagine if the Serbs had the Euro, what a difference it would make. Oops, Serbs have the Euro in the Republic of Kasovo 😂😂😂

[@lesliewood6967]

Then why is Greece one of the worlds largest shipping nation

[@borovik8714]

Never trust socialist. Only neoliberal economy makes sens. I rember "komuna" - a time in Poland of real socialism, that brought poverty, and PiS also severly damaged Polish economy, since they were focused on "ordinary people". And, as usual, as everywere - those people are the first to suffer. If gov says it will take care of you - better run.

[@nikostsounaka7633]

Well saying but that has already started to change.

[@jedetraktor_cz]

slovakia never was soviet republic ( nor czechoslovakia )

[@strix4614]

Syriza destroyed everything while the president of the party that bankrupts the country since the 70's and destroyed all independent institutions to enforce his oligarchy is the light at the end of the tunnel. 😂😂😂😂😂

[@mydogsbutler]

No. It is extreme government overspending that destroyed our economy which at the time all our parties including Nea Democracy participated in. When New Democracy grew up and supported ... leftist Greeks doubled down on their stupidibity by shamelessly voting for communist infested Syriza that promised them more handouts. New Democracy is the change. Altough Syriza is a new party.. it represents the old way of thinking.

[@simfinso858]

Zero currption and Indirect taxes and Equity capital for business are solutions for Greece.

[@mariosathens1]

I believe you didn't do a good research on this video - Big Greek companies => Greek shipping companies worthing billions of euros, never heard of them? the Greeks own the naval trade. - Current economy => After 10-year of crisis what do you expect exactly? the Greek economy to fly? But the Greek economy the last 3 years is growing much faster than many rich Eurozone members. Have you seen how much Greece reduced its Debt? 20% in a few years. Do you know many economies with such fast reduction of their Debt? - Credits => all the credit rating agencies upgraded the Greek economy and now the Greek bonds are better than many other Eurozone members.

[@kanakar-is]

the number 1 thing that has changed is unemplyment, this year it has dropped to below 10%, which is very good as productivity is the most important. during debt crisis, there was unemployment of 25%. so it says a lot, to have 2.5x less unemployment in just 10 years.

[@VasVordokas]

Greeks dominate global shipping and trade for starters. Its has a strategic vantage point which gives it leverage within NATO. The country has also become the tech hub of the Balkan and East Med.

[@athlitikosomateioanth4567]

I guess those things do not ring a bell to the most of them because they doesn't fit well their so-said "lazy-sterotype". They have stereotyped Greeks against any odds. The guy even said in the video that Greeks have large pensions (in Greece full pensions are around 800euros/month and many of them around 400 euros/month). They also stereotyped Greece for laziness whilst they consistently work the largest number of hours per week in the entire Europe for decades. Bs.

[@supermavro6072]

nice joke

[@VasVordokas]

@@athlitikosomateioanth4567 the US and NATO know. Look at the new ports up in Kavala and Alexandria, or how Greece power-brokered a huge energy deal with gas pipelines between itself, Cyprus, Israel, and Jordan. The F with those ignorant empty suit bureaucrats in Brussels speaking their manure. Greece is vital to the EUs security. Period.

[@ayoCC]

public debt is not that bad if it's "investment" but the problem is when it's all on "consumption" They need to pay for national research, public structures, public services, public work to reduce costs of doing any sort of work.

[@alexrenn2479]

Greek shipping controls nearly 60% of EU maritime trade. European trade would not be able to function if it were not for Greek shipping. The smug presenter of this video is clueless. Screenshot taken for future reference.

[@michelinebeauchemin6770]

Named country of the year by The Economist

[@okman9684]

The old greek says goes like this that can be applied on the today's Greece 🇬🇷 "Bad times make strong men, Strong men bring Good times, Good times make Weak men, Weak men bring Bad times"

[@ecoandrei328]

Calling Yanis Varoufakis a communist is like calling Biden a 15 years old teen.

[@thanasis-_-]

He certainly is a leftist

[@ecoandrei328]

@@thanasis-_- But not a planned economy proponent.

[@ommanipadmehung3014]

Varoufakis was a big mouth that did absolutely nothing in the end. And he can't say he couldn't because the triila didn't allow him - there will plenty of things he agreed with them on - like reforming the bureaucracy. Instead he sat on his hands and did nothing except famously give international journalists tours of the building he worked in - who has times for tours when you are the economy minister and your country is burning. Varoufakis - a big mouth that did nothing

[@altosh7]

​@@ecoandrei328communism is a classless and stateless society

[@tyranid13]

@@ecoandrei328 He self identifies as a Marxist.

[@StravosRacing]

You ask, what Greece could do to improve even more its potential? Well, you should see what is really going on country's infrastructure in general, but especially in Athens. You cannot imagine what you'll see... If these are not going to be fixed in the next 2-3 years, then NOTHING can turn around the current situation. And something about house market, inflation and minimum salary. With SYRIZA, I was paying my rent for a 15sqm, small house around 150 euros, a souvlaki (greek traditional and very common street fast food) costed back then around 2.3-2.5 euros and my salary was 570. With Mitsotakis... I cannot find a anything under 300, for the same square metre, which simply is already the double, souvlaki now costs 3.5 and guess what...minimum salary is 750. Of course these are indicative and very tight in daily life. If car brakes or there is a damage, there is no money to fix it. So if you do the maths an ordinary citizen in Greece has less now, compare to 2015 where SYRIZA just started its reign... And I am not a SYRIZA voter.

[@user-zl3rb4rg1n]

As a greek, syriza was never communist, it is central or central left, we literally have a party that is called communist party of greece, but usually has about 3% of the votes

[@papertoyss]

To the uploader: and who really are, *i.e. compared to you,* these Economist guys (not to mention others as well) who ranked Greece at the top of the list *for the second time in a row* of 35 countries with the best economic performance for 2023? Greece secured the top position for the first time in The Economist 2022 analysis of 34 prosperous nations. According to The Economist’s 2023 analysis, which is based on five economic and financial indicators (inflation, “inflation range,” GDP, jobs, and stock market performance), Greece has achieved the highest marks in the economy among 35 primarily affluent countries last year (2023). The Economist notes “some surprising results” in Greece’s performance across the five indicators, which contribute to the overall score assigned to each country. Particularly noteworthy is the 43.8% increase in the stock market value. PS the hole depicted on the map at the screenshot of this video being on Greece, *you should move it west right where Italy is,* that is if you're actually in touch with reality.

[@UNr34]

Stock market bubble, the actual economy is not doing all that great considering how poor it is, it should be doing a lot better. 2% growth is NOT something to get excited about.

[@papertoyss]

@@UNr34 The 2% of Greek growth (which is actually 2.5%) *compared to* the 0.6% avg of the Eurozone, IT IS an *achievement* and something to actually be excited about, which the markets reward. So please... Perhaps you should inform though - to save them from humiliation - all the credit rating agencies and in particular the big three which keep upgrage this country (if Im not mistaken faster than any other country too) on your worries. You should also inform the markets that such a country just cant be in Negative-Rates Club, because in case you missed it Greece *entered* the Negative-Rates Club. I could continue if you want me to... Referring to the title of this video, *the only pathetic* on this issue, is the effort of the uploader to attract views with this video, relying on the annoyance of Greeks and on the resentment and the inherent prejudice of others (the internet is filled with such users/persons). These two groups 'fighting' each other can potentially provide the uploader with hundreds of thousands of views. It's a clickbait.

[@papertoyss]

@@UNr34 Well, the 2% of Greek growth in 2023 (which is actually 2.5%) compared to the 0.5% avg of the Eurozone, IT IS an achievement and IT IS actually something to be excited for and IT IS rewared by the markets. We're talking more than three times the avg E/Z growth --> achievement. You should inform though - to save them from the shame and humiliation - all the credit rating agencies and in particular the big three, all of which keep upgrading Greece (and if Im not mistaken faster than any other country too), about your point of view and your worries. You should also inform the markets that in your opinion such a country should not enter the Negative-Rates Club, because in case you missed it Greece entered the negative-rates club. How could they allow such thing I dont know... *Do you?* I could continue with these you know.

[@UNr34]

@@papertoyss Greece also had the worst slowdown in 2020 and 2021. If you remove the rebound effect and you compare growth in 2022 and 2023 to other similar countries like Croatia, Portugal, and Poland the growth is not looking all that impressive. That 0.5% growth is countries with triple or even quadruple the GDP per capita of Greece. To consider Greek growth exciting would be 5-6% it is a country that is starting from a VERY low base.

[@user-nq5ok7tn7u]

​@@UNr34 current gdp growth isn't something unnoticeable, nor unworthy achievement for a country like Greece. Even though, you're right about the very low starting point.

[@ayoCC]

tax cuts should come with a longterm strategy, that companies need to give company shares to the government or national companies or some other longterm gain for greece itself. Else it's just going to be a tax haven...

[@mrlover4310]

I live in the UK how come. Other countries that are not in the European Union are not going bankrupt. How come, they are not in serious financial difficulty. Is the European Union that really stable?

[@kanakar-is]

greece isnt going bankrupt, unemployment fell from 25% to 10% in just 10 years, 20% decrease in debt, bonds increasing etc

[@maciejsoroka7590]

Slovakia is not a former soviet republic! you westerner xd

[@DoDoENT]

Slovakia was not part of Soviet Union and Croatia is also part of eurozone, possibly being poorer than Greece.

[@Aghaadshah]

Well explain

[@puchatek5584]

Slovakia was never soviet union! judging by accent host is uneducated citizen of vassal to USA state that is called UK

[@diogorodrigues747]

It was never Soviet Union in theory, in practice it was. The Soviet Union even invaded Czechoslovakia in 1968.

[@puchatek5584]

@@diogorodrigues747 you just contradicted yourself lol. Poland (not part of soviet union)invaded Czechoslovakia in 1968. if in "practice" Slovakia(part of Czechoslovakia) is soviet union then you just said that Soviet union invaded Soviet union. lol. Poland and Czechslovakia was a Vassal states to Soviet Union. just like Germany and Britain is Vassal states to USA today

[@diogorodrigues747]

@@puchatek5584 From Global Security Organization: "On August 20, 1968, Warsaw Pact forces--including troops from Bulgaria, the German Democratic Republic (East Germany), Hungary, Poland, and the Soviet Union--invaded Czechoslovakia. Approximately 500,000 troops, mostly from the Soviet Union, poured across the borders in a blitzkrieg-like advance. [...] By dawn on August 21, 1968, Czechoslovakia was an occupied country." So I'm sorry, but the Soviet Union did invade Czechoslovakia in 1968 after the actions of the Prague Spring and did occupy the country temporarily, including what is now Slovakia (independent from Czechia since 1990) - it wasn't Poland. And no, I don't see any vassal relations between the US and European countries today. In fact the relation these days is the weakest post-WWII, with the US going more isolationist these days and European countries with pretty high levels of independence. Also you could say the same thing about Greece being a vassal of the US because Greece is also a member of NATO. Deal with that. PS: The reason why Czechoslovakia was invaded was this: "The general dissatisfaction within the Czechoslovak military became increasingly evident. In 1966 Czechoslovakia, following the lead of Romania, rejected the Soviet Union's call for more military integration within the Warsaw Pact and sought greater input in planning and strategy for the Warsaw Pact's non-Soviet members. At the same time, plans to effect great structural changes in Czechoslovak military organizations were under discussion. All these debates heated up in 1968 during the period of political liberalization known as the Prague Spring, when CSLA commanders put forward plans to democratize the armed forces, plans that included limiting the role of the party. National military doctrine became an even greater issue when two important documents were released: the Action Program of the Ministry of Defense and the Memorandum of the Klement Gottwald Military Political Academy. These documents stated that Czechoslovakia should base its defense strategy on its own geopolitical interests and that the threat from the West had been overstated. [...] [The] regime of Alexander Dubcek, the party first secretary [...], was [still] careful to reassure the Soviet Union that Czechoslovakia would remain committed to the Warsaw Pact, [...]." [Global Security Organization]. So yes, the invasion was basically because Czechoslovakia, unlike Romania, wanted to be a democracy. That's the reason why Romania wasn't invaded by the USSR and Czechoslovakia was. Facts matter.

[@puchatek5584]

@@diogorodrigues747 Warsaw pact YES! it was alliance of many countries like NATO is alliance of non EU or USA members for example Turky. that proves me point! Slovakia was not part of Soviet union(only one member of warsaw pact) but was part of Warsaw pact. this two pacts are separate things

[@camberbanbury3691]

Though it is the Somalia of Europe it is showing a positive way forward for us in Somalia proper. Thank you nice Greek politicians.

[@ommanipadmehung3014]

This is the best government modern Greece has ever had.

[@yiannisal2526]

hahahahahahahahahahahahahahahahahahahahahaha

[@airisakura1119]

With toehr words self made problems and still holding on them ._.

[@user-ip7ws1li6c]

GREECE IS BUILDING A NEW CITY HELLINIKON BIGGEST PARK IN THE WORLD 10 BILLION EURO AND HAS AMAZING ROAD INFASTRUCTURE

[@christrap4153]

Wait ti what Greece will be

[@vask3863]

You haven't mentioned how all that began. It began with the crash of the housing bubble in the USA (~2006). The biggest European banks, before the crash, bought huge amounts of toxic american bonds. After the crash, to not let the European economy to go bust (fear of Banks going bankrupt), the EU decided to transfer the debts (created by the Banks) to all EU countries. Even to those countries (& their banks) that didn't bought any toxic bonds. Strong economies like Germany, France, UK, etc. didn't had much of a problem. In antithesis to smaller economies. Particularly Portugal Italy, Ireland, Greece and Spain. From those countries Greece was the most vulnerable...

[@user-nq5ok7tn7u]

What do you mean by "transfer the dept to all EU countries" ? I don't think that what you said makes sense.

[@alexrenn2479]

@@user-nq5ok7tn7u It means that the EU bailed out the banks which had collapsed and made it look like they were bailing out EU countries so they could do that. We know that now, even though we were lied to about it in the beginning. Watch the award winning German documentary The Secret Bank Bailout. It expalins what happened.

[@alexrenn2479]

Common people in Germany, France, UK were affected badly too. Brexit and even Trump are because of the dirty financial crisis.

[@nikimayra4477]

You need to do more research ( Greek here)

[@badrakhariunchimeg1031]

Inventer of food canning

[@anthonystaunton561]

Oh Greece. The European Argentina !!!

[@chrisalexander4469]

Greece's rich history and contribution to humanity ovelapse all your claims

[@ZA56AA]

I am Greek and despite the fact i started watching the video in bad faith expecting the usual hyperbolic critisism its hard for me not to agree 100% with everything that this video shows. Everything its been said in that video is true for Greece throughout the years or decades up until today.

[@ArdashirSassanig]

Slovakia was no Soviet republic. Please correct it.

[@dioratikon]

Parthenon not Pantheon.

[@spirosgreek1171]

I woulsnt show that much hope to the current administration if i were you. The PM and his cabinet have produced more scandals in their first term than i can count. (Wiretapping scandal and the collision of 2 trains due to poor railway inspections and management being the most prominent ones. Not to mention that the biggest industry of Greece, the maritime industry, is allowed to avoid taxes, with the government passing favorable laws for these ship owners. While the rest of the world seems to have hope that things will turn around, i as a greek citizen, don't see any light in the tunnel, just more darkness

[@LMB222]

I used to think that "southern laziness" was just propaganda, but then I visited Portugal… I'm sure greece is equally "busy" ar work.

[@svart7716]

Tourism, agriculture and shipping industry would make Greece a very rich country…

[@camberbanbury3691]

Love from Somalia.

[@zinosspirou8899]

Greek,big companies are the shipping ones.25% of the total commerce fleet in the world are owned by Greek shipowners,so there are big companies and as of the viability of the Greek economy it will depend on the continuing war in middle east. Tell us how the UK economy is doing after Brexit.😁

[@user-ip7ws1li6c]

you would cause any country broke

[@snackplissken8192]

My money would be that, like the countries of the western hemisphere, Greek reforms will last as long as the first election after any real pain. Voters have no patience for short term suffering voluntarily undertaken for mid or long term benefits. As long as the international community is willing to prevent Greece from becoming a completely failed state, I can't see them hitting rock bottom and changing their ways. I hope I'm wrong, but countries seem to behave like addicts, they can only get better when they realize they can't blame anybody else for their problems and that they will literally die if they don't take drastic action now. When America dies from having interest payments higher than the entire national budget, the world will think longingly about the good times of the 2008 global financial crisis.

[@thanasisk]

One other aspect of Greece's economy: black money. Is this reflected in your "GDP per Capita" graph you show in the beginning ?

[@nasos2510]

Well the pensions are not comparable with western Europeans.. You failed to mention the shipping industry which has the largest fleet in the world but contributes peanuts in terms of taxes and social responsibility..

[@giorgospap7615]

The biggest problem of Greece is political corruption. Everything else is just what we say is the problem to avoid facing the truth dead into the eyes.

[@Marat_2023_Husnutdinov]

There are a huge number of zombie companies in the USA.

[@thanasis-_-]

I'm migrating to china

[@JonathanWrightSA]

To me, Greece has always been an economic basket case since I started gaining awareness of broader international affairs around 2009. To hear their prime minister say those words, almost brings a tear to my eye. Free market economics always wins. As a South African, I see my own country flirting with how Greece ended up. Hopefully, the streak of fiscal conservativism in the otherwise hopelessly corrupt ANC government continues to hold the line.

[@Pan472]

South Africa is already infinitely worse than Greece. Greece doesn't rolling blackouts all over the country daily, rape rates through the roof and mass murders like SA does. Also, SA has a much much smaller GDP per capita than Greece.

[@1wun1]

And your industrial sectors are quite strong.

[@JonathanWrightSA]

@@1wun1 Unfortunately, I do not agree. SA manufacturing exploded in the 1960s-1980s, and has utterly collapsed since 2008. Turns out you need electricity for such things. We had three or four major oil refineries until a few years ago. We now have one or zero and import almost all refined petroleum. We had a huge steel mill in Saldahna. It closed a few years ago. The biggest cheese producing plant in South Africa closed two years ago. The Ouma Rusks bakery in Molteno cannot export rusks beyond the factory because the road to the highway is so bad that the rusks all break on the way. The only thing going for us is that we are not bankrupt. Yet. Debt to GDP is about 80%, and the economy has only contracted in real terms since 2008. It is not good. I invest in foreign markets, bonds, and firearms and ammunition.

[@Pan472]

@@JonathanWrightSA Your country is much much worse in many real economic indicators though. Plus, you have rolling blackouts all over the country and continuous thefts of vital electrical equipment, I shall repeat. Something which Greece doesn't have at all.

[@1wun1]

@@JonathanWrightSA That's very bad, even by African standards most countries are slowly upgrading while yours seems like the opposite.