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 September 2014
Mentally disabled:
That the mentally disabled may receive the love and help they need for a dignified life.
Service to the poor: That Christians, inspired by the Word of God, may serve the poor and suffering.



Comments


More Europe

Millions displaced from homes due to natural disasters Watch

Image of Last year, seasonal floods caused significant displacements in sub-Saharan Africa, notably in Niger, Chad, Sudan and South Sudan, countries also affected by conflict and drought.

By Laura Onita, Thomson Reuters Foundation

Almost 22 million people were forced to flee their homes due to natural disasters last year and the numbers uprooted could increase as urban populations grow, a refugee agency said on Wednesday. (Thomson Reuters Foundation) - The majority were in Asia, where 19 million ... continue reading


Pope Francis invites Chinese President Xi Jinping to meet with him Watch

Image of It's not yet known how Chinese President Xi Jinping will respond to Pope Francis' request for a special meeting.

By Catholic Online (NEWS CONSORTIUM)

Pope Francis has reportedly invited the President of China, Xi Jinping to meet with him, either in the Vatican or Beijing. The pontiff wants to speak to the president in order to build a lasting global peace, which the Pope says is engaged in a "piecemeal" ... continue reading


Marriage and Holiness: Pope Marries Twenty Couples on the Exaltation of the Cross Watch

Image of One of the twenty couples who exchanged their vows in the presence of Pope Francis

By Deacon Keith A Fournier

Much of the Press, including circles of the Catholic Press, focused on the unique path which some of the couples followed to the Sacrament of Marriage; even though they had all arrived at the Altar, offering their love to the Source of all true Love, for ... continue reading


Pope Francis Gives Impassioned Plea for an End to War: What Does it Matter to Me? Watch

Image of Pope Francis walks inside the Austro-Hungarian cemetery at Fogliano in Redipuglia September 13, 2014. REUTERS/Stefano Rellandini

By Catholic Online

With this - What does it matter to me?-  in their hearts, the merchants of war perhaps have made a great deal of money, but their corrupted hearts have lost the capacity to cry.  That - What does it matter to me?- prevents the tears.  Cain did not ... continue reading


SOLVED AT LAST: DNA testing nails Polish emigre as JACK THE RIPPER! Watch

Image of Aaron Kosminski, inset, a hopelessly insane Polish immigrant - unable to care for himself and left in the care of relatives - was able to successfully evade justice as the dreaded Jack the Ripper of 19th Century London.

By Catholic Online - (NEWS CONSORTIUM)

London's most notorious serial killer, Jack the Ripper or "Springheel Jack" slashed and killed five prostitutes in the Whitechapel district in the 1880s. Never caught, countless theories sprung up over his identity through the 100-plus years. Some postulations ... continue reading


Rare U.S. coin discovered in Britain could fetch well above a million dollars at auction Watch

Image of Amateur treasure hunter, 42-year-old John Stoner had just begun to search a field in Nottinghamshire, England when he made a most remarkable discovery --

By Catholic Online - (NEWS CONSORTIUM)

Amateur treasure hunter, 42-year-old John Stoner had just begun to search a field in Nottinghamshire, England when he made a most remarkable discovery. He uncovered a 350-year-old threepenny coin, used by America's Pilgrim Fathers. The rare coin is expected to ... continue reading


What is this mysterious ring in the Danish countryside and from whence did it come? Watch

Image of The Viking forts found so far in Denmark all match this particular style, which may mirror earlier Roman camps used in England.

By Catholic Online (NEWS CONSORTIUM)

Archaeologists working in Denmark have discovered a distinctive ring-shaped Viking fortress, which is thought by some historians to have been used to launch an invasion of England. LOS ANGELES, CA (Catholic Online) - The fortress was found on Zealand, a Danish ... continue reading


Pope Francis Reminds Us the Church is Our Mother Watch

Image of St. Peters

By Pope Francis

The Church is our mother because she has delivered us in Baptism. Whenever a child is baptized, he becomes a son of the Church, from that day, he is in the Church which cares for him as a caring mother, she makes us grow in faith and shows us, with the power of ... continue reading


Where can they go? A million Ukrainians have fled their war-torn country Watch

Image of Ukrainian refugees at a Russian train station.

By Catholic Online (NEWS CONSORTIUM)

The United Nations has reported that the conflict in Ukraine, which began back in February 2014, has uprooted more than a million people, with even further mass displacement feared as fighting continues. LOS ANGELES, CA (Catholic Online) - The total includes ... continue reading


Archaeologists find a very different type of 'treasure' - a 2,000-year-old toilet seat Watch

Image of Discovered at Vindolanda fort on Hadrian's Wall in Northumberland, the

By Catholic Online (NEWS CONSORTIUM)

Accustomed to finding priceless coins, artwork and historical artifacts, archaeologists in Great Britain have found an altogether different type of treasure - one that was desperately needed in ancient times - a wooden toilet seat, believed to be 2,000 years ... 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, First Corinthians 15:1-11
1 I want to make quite clear to you, brothers, what ... Read More

Psalm, Psalms 118:1-2, 16-17, 28
1 Alleluia! Give thanks to Yahweh for he is good, for ... Read More

Gospel, Luke 7:36-50
36 One of the Pharisees invited him to a meal. When ... Read More

Saint of the Day

Saint of the Day for September 18th, 2014 Image

St. Joseph of Cupertino
September 18: St. Joseph was born at Cupertino, in the diocese of Nardo in the ... 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