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Wednesday, August 22, 2018

After 8 years and $375 billion of bailouts, I asked a Greek taxi driver how locals feel about the 'recovery,' and his outlook is bleak

[Tsipras.JPG]REUTERS/Costas Baltas * ON AUGUST 20, GREECE WILL END NEARLY A DECADE OF INTERNATIONAL ASSISTANCE. * GREEK AND EUROPEAN UNION OFFICIALS HAVE CHARACTERIZED GREECE AS IN RECOVERY, WITH UNEMPLOYMENT NUMBERS DOWN AND THE ECONOMY GROWING. * BUT A TAXI DRIVER I SPOKE TO IN ATHENS SAID THE RECOVERY ISN'T REACHING MOST REGULAR GREEKS, WHO ARE STUCK ON PART-TIME SALARIES PAYING EXORBITANT ELECTRICITY COSTS. * MEANWHILE, HE SAID, YOUNG PEOPLE ARE STILL LEAVING IN DROVES AS THEY SEE LITTLE HOPE FOR THE FUTURE. ------------------------- I make a habit of talking to taxi drivers when traveling. And not just for recommendations; I ask them about their country. Most have something insightful to say. In South Africa in 2011, I learned about the roots of persistent public transportation strikes in Cape Town.SEE THE REST OF THE STORY AT BUSINESS INSIDERNOW WATCH: A North Korean defector's harrowing story of escape SEE ALSO: * The legendary investor who predicted the past 2 bubbles breaks down how the 9-year bull market will end * I've used the iPhone 8 and the iPhone X — and the winner is clear * I spent 5 years studying rich people, and here are the 9 best pieces of advice I can give you about money SEE ALSO: I VISITED THE GLITTERING GREEK ISLAND OF MYKONOS, THE SUMMER DESTINATION OF CHOICE FOR BILLIONAIRES — AND IT'S A VERY DIFFERENT EXPERIENCE IF YOU AREN'T SWIMMING IN MONEY DON'T MISS: A LOCAL IN GREECE GAVE ME A TIP TO VISITING THE COUNTRY, AND IT'S THE OPPOSITE OF EVERYTHING YOU'VE BEEN TOLD


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