BUSINESS

Seven in 10 Greeks threatened by poverty

DESPINA KONTI

TAGS: Economy

Almost seven in every 10 Greeks are in a dire financial situation, according to data compiled by the Organization for Economic Cooperation and Development (OECD).

The figures published in the bulletin of the Hellenic Federation of Enterprises (SEV) indicate that 68.3 percent of the population in Greece are living close to or below the poverty line, with 12.9 percent already having to make do with an income below that line and 55.4 percent categorized as vulnerable, as they too could drop below the poverty line if they miss out on three months’ salary.

The proportion of Greeks who are unable to make a decent living is far above the OECD average, which stands at 50.4 percent. In the United States, which also shows high levels of inequalities, the rate comes to 55.5 percent, while in Denmark it stands at 36.3 percent. Greece’s rate is second only to Latvia’s in the European Union.

SEV commented that Greece is among the European countries with the greatest inequalities in incomes, a situation that has been aggravated by the financial crisis of the 2010s, which hurt lower incomes in particular.

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