Greece One of the Most Miserable Economies in the World

-
Inflation and rising unemployment have made a debilitating impact on people: misery. 

This 'disease' will be most acute in Greece Venezuela, Argentina, South Africa and Ukraine — the five most painful economies in which to live and work, according to Bloomberg survey data that make up the so-called misery index for 2015, Bloomberg cites. 

Ukraine's war will exact greater economic casualties. Tension with Russia-backed rebels will prolong joblessness in the eastern-European nation, and inflation won't offer much relief, the surveys showed. The one-two punch means Ukrainian consumers are set to be the fourth-saddest among 51 economies (including the euro area) based on forecasts for the misery measure.

At USD 8,494 gross domestic product per capita this year, Ukraine only edges out the Philippines among the countries surveyed and measured with the International Monetary Fund's proxy for resident income.

Unemployment probably will climb to 9.5 percent in Ukraine this year from its 8.9 percent rate as of the third quarter in 2014, the survey data show. Inflation is projected to rise at a 17.5 percent pace in 2015, compared with the 24.9 percent December year-over-year rate.

The three countries that will probably see the most economic misery in 2015 — South Africa, Argentina and Venezuela — haven't budged much from their 2014 rankings, when they occupied three of the top four spots, the data showed.

At 78.5 percent, the estimated CPI inflation rate in back-to-back, most-miserable Venezuela more than quadruples Ukraine's inflation rate. The dire shortage of basic goods in Venezuela last week prompted neighboring Trinidad & Tobago to offer a tissue paper-for-oil swap.

Five years after investors popularized the term "PIIGS" to describe a handful of European countries with bloated budget deficits, four of those five countries remain in dire straits, according to their projected misery indexes.

Greece is 5th, Spain is 6th, Portugal is 10th and Italy is 11th in this year's ranking, though each show about average projected income levels relative to survey peers. (Ireland happily sits further down the chain at No. 16 in the misery ranking and with a much-better-than-average GDP per capita of ,787. The 51 economies in our misery index average GDP per capita of ,079.)

Enough of the sad news. For the glass-half-full take, stay tuned for our take on the most consumer-friendly economies in 2015.

- See more at: http://www.independent.mk/articles/14933/Greece+One+of+the+Most+Miserable+Economies+in+the+World#sthash.CXvDwmO5.dpuf



Gern gelesen

THE GREEK HERACLES WAS A BLACK MAN AND THE AFRICAN INFLUENCE ON GREEK AESTHETICS

-
Bild
By Samuel David Ewing It has occurred to me lately as I pondered about the next article for this section that the lineage, pedigree, or family tree of the Greek Heracles must be clarified once and for all. Diodorus Siculus and Herodotus recorded that it was the Egyptian Heracles who was the hero who performed the legendary 12 Labors, subdued the animals of the wild that had threatened the people, ushered in the building of cities, water systems, fortifications, and laws. Walter Burkert has estimated that this original Heracles was renowned as far back as 20,000 years ago. The Greek Heracles ended up receiving honors for the accomplishments of his predecessor, having the title of "Heracles", furthermore by the Bronze Age of Greece in which the Greek Heracles was said to have lived the taming of the wilderness had already been accomplished. The Greek Heracles was not likely to be wearing lion skin armor, wielding a club, with spear as weapons, and the danger of lions ru
Artikel lesen >>

Griechenland: 2,5 MRD Euro Stromschulden – Versorger schaltet bald erste 50.000 Kunden ab!

-
In Griechenland wird der staatliche Stromversorger in Kürze damit beginnen in einem ersten Schritt 50.000 Stromkunden den Saft abzudrehen. Die Außenstände belaufen sich insg. auf 2,5 Milliarden Euro. Betroffen werden vor allem Firmenkunden sein. Eine Katastrophe für die (vorhandene?) Konjunkturerholung. Es gibt einen handfesten Grund, warum die Höhe der Stromrechnungen in den letzten Jahren explodierte… Griechenlands staatlicher Stromversorger PPC hat Außenstände bei Stromkunden von insg. 2,5 Milliarden Euro, 1,8 Milliarden davon bei gewerblichen Kunden. Schulden haben insg. 2,1 Mio Stromkunden in Griechenland. Wenn man das umlegt auf die Gesamtsumme, wären das rein rechnerisch 1.190 Euro Schulden pro Stromkunde, aber bei 1,8 von 2,5 Milliarden Schulden durch gewerbliche Kunden dürften die Privatkunden natürlich deutlich kleinere Summen offen haben. In einem ersten Schritt will PPC demnächst 50.000 Stromkunden den Saft abdrehen nach vorheriger Mahnung, so berichtete es vor Kur
Artikel lesen >>

Griechenland: Sozialkassen schaffen parallele Staatsverschuldung

-
FMW-Redatkion Die Sozialkassen in Griechenland schaffen derzeit eine Art parallele Staatsverschuldung. Da die annehmen, dass ihre Löcher aus den jetzt fließenden 86 Milliarden Euro vom 3. Hilfspaket nicht gestopft werden, haben sie angefangen in Eigenregie Kredite aufzunehmen. Da sie Rentenfonds, Krankenkassen etc staatliche Einrichtungen sind, erhöht sich damit per Saldo die Staatsschuldenlast Griechenlands noch weiter, auch wenn der Staat Griechenland kaum darum bemüht sein dürfte diese Extra-Schulden in seine eigenen Schulden einzurechnen. Aber Schulden sind Schulden. Wie die angesehene griechische Zeitung „Ekathimerini“ berichtet, hat das „Social Insurance Institute“ im August ein kurzfristiges Darlehen (wird wohl eine Dauerumschuldung) über 110 Mio Euro aufgenommen. 70 Mio davon gab man an seinen öffentlichen Versicherungsfonds weiter, 40 Mio davon an seinen kommunalen Versicherungsfonds. Auch schieben das „Social Insurance Institute“ und der „Generational Solidarity
Artikel lesen >>

Beliebte Posts aus diesem Blog

Nikos Dimou: Greece has already lost in the name issue

-
Bild
- Greece has already lost in the case of the name issue. Ninety – five percent of the countries in the world accept the name Macedonia, and we continue to discuss this, said Nikos Dimou, a member of the Greek political party “Potami” (River) when guesting the show on Sky television. Dimou, a renowned Greek writer with more than 60 published books , said he supports a solution based on a composite name with a geographical qualifier, but added that he agrees that Macedonia can be called whatever they want “Macedonia as well”. - The name issue was mismanaged by the Greek government from the very beginning. It is a question for which we have already lost, Dimou said. As MIA reports from Athens, he added that it is his personal view and not the party’s, as he said, ” it has not established a position on this issue”. Dimou’s statement met with strong reactions by some Greek media. The electronic edition of “Hellene Elisis” commented that “the new party discovered their g
Artikel lesen >>

THE GREEK HERACLES WAS A BLACK MAN AND THE AFRICAN INFLUENCE ON GREEK AESTHETICS

-
Bild
By Samuel David Ewing It has occurred to me lately as I pondered about the next article for this section that the lineage, pedigree, or family tree of the Greek Heracles must be clarified once and for all. Diodorus Siculus and Herodotus recorded that it was the Egyptian Heracles who was the hero who performed the legendary 12 Labors, subdued the animals of the wild that had threatened the people, ushered in the building of cities, water systems, fortifications, and laws. Walter Burkert has estimated that this original Heracles was renowned as far back as 20,000 years ago. The Greek Heracles ended up receiving honors for the accomplishments of his predecessor, having the title of "Heracles", furthermore by the Bronze Age of Greece in which the Greek Heracles was said to have lived the taming of the wilderness had already been accomplished. The Greek Heracles was not likely to be wearing lion skin armor, wielding a club, with spear as weapons, and the danger of lions ru
Artikel lesen >>

Austerity Porn: Greek Terrorists Rape Ministers' Wives in Controversial Revenge Movie

-
Bild
A picture from the porn movie (Screengrab) Greece’s biggest porn production company has released a controversial movie in which terrorists rape ministers’ wives and then blackmail the politicians threatening to publish video online if they do not stop austerity measures. The movie, entitled The People’s Revolution Upon the Ministers' Wives, has been produced by Sirina (Siren) Productions and can be included in the genre of “politicised or austerity porn”. “2012. The dominant emotion of impoverished Greece is disappointment. With the movement of the indignant being blown off course, people are looking to find ways in order to defuse the anger they feel towards the politicians that betrayed them,” reads a note on the company’s website. In the movie, a group of angry Greeks set up a terrorist cell and attack ministers’ houses. “They find their wives and give them a lesson they will never forget,” reads the publicity. “They also record their deeds and then blackmail t
Artikel lesen >>