Austerity Costs Greek Workers 37B Euros

Greece’s main private sector workers union GSEE said in a report on Sept. 5 that three years of austerity measures have cost its members 37 billion euros ($48.5 billion) euros and will push a record unemployment rate of 27.6 percent to 31.5 percent. The estimate includes pay cuts and tax hikes imposed by the government on the orders of international lenders to write down the ...

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