Greek consumer spending is expected to fall to 2004 levels if the government’s plan for budget savings of 11.5 billion over the next two years is implemented, according to the Commerce and Services Institute of the National Confederation of Greek Commerce (INEMY-ESEE).
According to Eurostat calculations which do not take into account the planned savings, final consumption spending is projected to fall to 206,465 million units of the Purchasing Power Standard (PPS) in 2013 from 207,914 million PPS units this year. INEMY-ESEE has calculated that if the savings are implemented, final consumption will fall to 196,565 million PPS units -- which is slightly above the 2004 level -- if not more. The fall will amount to 16.6 percent in PPS terms since 2008. In no other country of the eurozone is consumer spending projected to fall in 2013, including those of the so-called periphery hit by the economic crisis.
“We all feel exhausted and every new measure imposed on a society that has no more to give is truly painful. The spending cut measures will be wrong,” said ESEE Chairman Vassilis Korkidis.
Parliamentary speaker Evangelos Meimarakis has spoken to the representatives of all parties to remind them that no MPs should carry guns in the House, it emerged on Monday.
Meimarakis acted ...
Slovenian philosopher Slavoj Zizek has caused controversy in Greece by suggesting that he would send anyone who does not support SYRIZA to a “gulag”.
Zizek met with SYRIZA leader Alexis Tsip...
Germany's Bjoern Otto recorded the world's leading performance in the men's pole vault at the Athens Street Pole Vault event that took place at Zappio, in central Athens, on Saturday afterno...
PAS Giannina upset PAOK at Thessaloniki on Sunday to take the lead at the Super League play-offs, while Asteras Tripolis rebounded from its loss at Ioannina in midweek to defeat Atromitos at...
A true giant of modern thought, Ludwig Wittgenstein believed that all problems in philosophy arise from the misguided use of language. Although this opinion, put forward in his early writing...
Certain people have created a monster and now, when they observe it, they wonder what it is. Golden Dawn, along with all its slogans and behavior, is the work of many, not one single person....
