Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

5/9/2013 (1 year ago)

Catholic Online (www.catholic.org)

Those between the ages of 15 and 24 remain largely idle

The young in Greece face increasingly dim prospects, with little to no work and little chance for a brighter future. Greek youth unemployment rose above 60 percent for the first time in February. Greece's jobless rate has almost tripled since the country's debt crisis emerged in 2009.

The young in Greece face increasingly dim prospects, with little to no work and little chance for a brighter future.

The young in Greece face increasingly dim prospects, with little to no work and little chance for a brighter future.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

5/9/2013 (1 year ago)

Published in Europe

Keywords: Greece, yout, unemployment, International Monetary Fund, tax cuts


LOS ANGELES, CA (Catholic Online) - While the overall unemployment rate rose to 27 percent, according to statistics service data released on Thursday, joblessness among those aged between the ages of 15 and 24 jumped to 64.2 percent in February.

Economist Nikos Magginas at National Bank lays it out plainly. "It is by far the highest youth unemployment rate in the euro zone, highlighting the difficulties young people face in entering the labor market despite government incentives to create jobs."

In response to the slack job market, Athens has lowered the minimum monthly wage for those younger than 25 years of age by 32 percent to about 500 euros to entice hiring by employers.

Greece's economy is in its sixth year of recession, battered by tax hikes and spending cuts demanded by its European Union and International Monetary Fund lenders. The economy is expected to slump by 4.2 to 4.5 percent this year.

Greece was ordered by the International Monetary Fund this week to do more to crack down on its "notorious" tax evasion problem. The IMF did that Greece had made progress slashing debts and improving competitiveness, but added that "very little progress" had been made in tackling tax evasion.

"The rich are not paying their fair share which has forced an excessive reliance on expenditure cuts and higher taxes on those earning a salary or a pension," the IMF said.

Endemic tax evasion in Greece was a major factor in the collapse of its economy. But it is also making it harder for Greece to shore up its finances.

In a clear sign that patience is running out, the IMF said "decisive correction actions" were needed, including a "deeper political commitment to tax administration reform."

The IMF also said Greece must take a more pro-active solution to trim down its bloated public sector.

---


Pope Francis: end world hunger through 'Prayer and Action'


2014 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for January 2015
General Intention:
That those from diverse religious traditions and all people of good will may work together for peace.
Missionary Intention: That in this year dedicated to consecrated life, religious men and women may rediscover the joy of following Christ and strive to serve the poor with zeal.



Comments


More Europe

Forced into prostitution: Greece's economic crisis has married women, mothers hitting streets Watch

Image of The situation of Grecian streets is worsening, as many of the Greek women now turning to prostitution don't bear even a passing resemblance to the drug-addled stereotype of the

By Catholic Online (NEWS CONSORTIUM)

Greece, at the heart of the European economic crisis of a few years past, has elected the "anti-austerity" organization the Syriza Party into office. Mass unemployment remains, with more than 50 percent on the nation's young people without work. An even seedier ... continue reading


The first tax revolt: 800 years later, the Magna Carta stands boldly as spiritual predecessor to the Bill of Rights and U.S. Constitution Watch

Image of A copy of the Magna Carta on display.

By Matt Waterson (NEWS CONSORTIUM)

This year will mark the eighth centennial of the signing of the Magna Carta by King John at Runnymede near Windsor, on June 15, 2015. LOS ANGELES, CA (Catholic Online) - The Magna Carta was one of the first documents that limited the power of the English crown, and ... continue reading


VIDEO: 70 years later, drone flies over infamous death camps showing the shocking and HORRIBLE extent of Nazi death camps Watch

Image of The gates of the Auschwitz death camp, which in English say

By Matt Waterson (NEWS CONSORTIUM)

In 2015, more than 1,500 survivors of the Holocaust returned to the Auschwitz concentration camp in Poland to mark the 60th anniversary of the death camp's liberation by Soviet troops. LOS ANGELES, CA (Catholic Online) - On January 27, event organizers are ... continue reading


FEAR GRIPS VATICAN: 'Islamic State is clear. They want to kill the Pope' Watch

Image of Pope Francis has frequently spoken out against the Islamic State group. The Holy See has also voiced its support for U.S. air strikes in Iraq. This has led several to think that this increases the Pope's likelihood as a terrorist target.

By Catholic Online (NEWS CONSORTIUM)

The Vatican is under heightened concern that a terrorist attack may be imminent. Iraq's ambassador to the Holy See, Habib Al Sadr, at the time warned that "what has been declared by the self-declared Islamic State is clear. They want to kill the Pope. The ... continue reading


Is Hitler funny? Leader of far-right German party steps down over inappropriate selfie Watch

Image of PEGIDA (Patriotic Europeans Against the Islamization of the West) is a German far-right group which is for deporting or denying entry for Muslims into Europe.

By Matt Waterson (NEWS CONSORTIUM)

In the wake of the Charlie Hebdo terrorist attacks earlier this month, as well as the numerous acts of terror perpetrated by Muslims throughout Europe over the last several years, Germany is seeing a resurgence of far-right radical groups whose attitudes and ... continue reading


Incredible footage of Lamborghini crashing at 200 MILES PER HOUR! Watch

Image of A Lamborghini Huracan crashed on the M7 motorway going 208 miles per hour. Both passenger and driver survived.

By Matt Waterson (NEWS CONSORTIUM)

Hungarian police have released footage of the first ever Lamborghini Huracan crash at more than 200 miles per hour. LOS ANGELES, CA (Catholic Online) - In 2014 it was reported that a crash over 200mph occurred. A Huracan registered in the Czech Republic hit a barrier ... continue reading


Five bodies found in ancient tomb - could they be Alexander the Great and his mother? Watch

Image of Many experts have discounted the Alexander theory. They say the ancient emperor was more likely buried in Egypt.

By Catholic Online (NEWS CONSORTIUM)

Archaeologists have unearthed bones from at least five people in an uncovered ancient tomb in Greece. Among those discovered was a woman aged over 60, a newborn baby, two men aged between 35 and 45 years of age and another adult of indeterminate age. Since the ... continue reading


If European cities say so - Uber Taxi could create 50,000 jobs Watch

Image of Uber Taxi has been hit with court injunctions in Belgium, France, Germany, the Netherlands and Spain. Uber has also faced protests from taxi firms in major cities, including London.

By Catholic Online (NEWS CONSORTIUM)

Travis Kalanick, chief executive officer of Uber Taxi said in Munich that Uber Taxi could create 50,000 jobs as part of a "new partnership" with European cities. Kalanick says he wants to make 2015 a year of rapid expansion in Europe. LOS ANGELES, CA (Catholic ... continue reading


Why the Islamic State's systematic recruitment of European Muslims is a threat to us all Watch

Image of Lone Wolf terrorism is a new symptom of the Islamist war against Western nations and their values.

By Matt Waterson (NEWS CONSORTIUM)

Muslims from countries in the Middle East make up the largest percentage of members of the Islamic State and other radical Islamist groups. Local Muslims in the Middle East and North Africa constitute the core membership of most Islamist groups; but a new trend is ... continue reading


Will Greece's emergency elections spell the end for European recovery? Watch

Image of Protests, violence and demonstrations from the Greek liberal and leftists threaten the fledgling recovery of the struggling Greek economy.

By Matt Waterson (NEWS CONSORTIUM)

Greece has faced a struggling economy for the better part of a decade, since the worldwide recession hit back in 2008 and 2009, though amplified starting in 2010. Through these turbulent years, unemployment, government corruption and welfare requests have ... continue reading


All Europe News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Hebrews 10:19-25
19 We have then, brothers, complete confidence ... Read More

Psalm, Psalms 24:1-2, 3-4, 5-6
1 [Psalm Of David] To Yahweh belong the earth and all ... Read More

Gospel, Mark 4:21-25
21 He also said to them, 'Is a lamp brought in to be ... Read More

Saint of the Day

Saint of the Day for January 29th, 2015 Image

Sts. Sarbelius & Barbea
January 29: Two martyrs, brother and sister, who were put to death at Edessa ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter