BUSINESS

Report finds Greeks struggling to make ends meet and pay bills

DIMITRA MANIFAVA

TAGS: Economy

Three in four Greek are unable to pay their bills on time and 68 percent cannot service their debts, according to the European Consumer Payment Report 2016. One in three of respondents, in fact, expressed the desire to leave Greece and seek a better future elsewhere, mainly Germany and the UK.

The report, based on a survey conducted by the Swedish company Intrum Justitia to gauge debt and bill payments, also found that those who do manage to stay up to date with their payments often find themselves unable to make basic purchases.

The survey was conducted between September 12-26 on a sample of 21,317 people in 21 European countries, with Greece performing poorly in most categories and signs that households are suffering greater hardships throughout the continent.

Over 50 percent of Greeks said they can no longer afford a “dignified existence,” compared with an average of 29 percent in Europe (up from 26 percent last year), while 65 percent expressed concern that they would not have enough money to get by after paying their taxes, as opposed to the European average of 39 percent (from 35 percent in 2015).

The report also made some interesting discoveries regarding the relationship between economic hardship and plans to emigrate, with 30 percent of respondents in Greece and Hungary saying they are considering moving to another country, compared with a European average of 16 percent.

Also interesting is the finding that only 20 percent of Europeans see their country’s economy improving, with just 5 percent of Greeks believing there is a bright future ahead. On a more upbeat note, 30 percent of Europeans feel their personal financial situation is improving, which is not the case for Greeks as only 9 percent admitted to being hopeful.

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