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Greek unemployment hits new high

Thursday, July 11, 2013 - 01:45

July 11 - Greece may have scraped through its biggest political and financial challenge this year by securing a tranche of aid from international lenders but the reprieve may only be temporary. More cuts need to be made which won't go down well with voters. Haylet Platt reports.

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Greek unemployment has hit a new high as a crippling recession continues to take its toll. The number of people out of work in April rose point one percent to 26.9. It's the highest reading since records began in 2006 and twice the average rate in the euro zone. (SOUNDBITE)(Greek) UNEMPLOYED FOR 2 YEARS GREEK CITIZEN WHO DID NOT WANT TO BE IDENTIFIED, AGED 50, SAYING: "Things are really terrible, terrible, we are all ready to revolt, we are on the edge, there is hunger everywhere, not just me but everyone, people are searching through the rubbish to find something to eat. What kind of a country is this?" Earlier this week Greece managed to scrape through the troika's inspection and secure another 6.8 billion euros of aid. But workers aren't giving up the fight against the cuts the country must implement in order to secure the funds. Municipal police officers have been on strike for three days and a mass anti-austerity protest was due to take place on Wednesday evening (SOUNDBITE)(Greek) MUNICIPAL POLICE OFFICER THANOS TATSIS DEPUTY PRESIDENT OF THE MUNICIPAL POLICE OFFICERS UNION SAYING: "Since there is no response by the government then they should know that we are used to being out on the streets and not in offices." The jobless rate for under 25's fell slightly but 58% are still out of work - the highest figure in the euro zone. Unemployment in Greece is now three times what it was in 2009. And crucially two thirds of those without a job have been unemployed for more than a year. The next few months will be particularly challenging. Debt is set to top 175% of GDP this year. And IMF and EU inspectors return in September to discuss a budget cap for 2015 and 2016. That will mean more cuts and more debt relief from the euro zone - both of which could spark a new political crisis.

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Greek unemployment hits new high

Thursday, July 11, 2013 - 01:45