Monday September 1, 2014 Search
Weather | Athens
29o C
23o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Attica has suffered considerably from the six-year economic crisis

By Thanos Tsiros

The six-year recession has hit the 3,827,624 inhabitants of Attica particularly hard. In the region where half the Greek gross domestic product is generated, more than 400,000 jobs were lost, the annual per capita GDP went down by 5,000 euros, and construction activity crumbled 80 percent, according to figures released last week by the Hellenic Statistical Authority (ELSTAT).

Over 60,000 enterprises were forced into closure and the annual income in the region has shrunk by 20 billion euros. Savings of 52 billion euros have evaporated from bank accounts, while only one in every three of the regionís more than 3.8 million residents have a job, a figure which includes part-time employment.

The ELSTAT data show that out of the 3.35 million people in Attica over the age of 15, only 1.33 million still have a job, against 1.78 million who were employed in the last quarter of 2008. The regionís unemployed today number 517,800, of whom 339,270 are registered at the Manpower Organization (OAED).

The rate of those employed on a part-time basis has risen from 5.8 percent in 2008 to 9 percent today, meaning that over 130,000 workers in Attica receive less than 470 euros gross on average, according to the latest figures from the Social Security Foundation (IKA). The number of employees who see delays in payment ranging between one and six months is estimated at 300,000 at least, as across Greece the rate is estimated at over 20 percent.

Three factors illustrate the decline in economic activity in the region which includes the countryís capital: In the whole of 2013, just 3,675 permits were issued for the construction of buildings covering a total of 560,900 square meters. In 2009 they had amounted to 15,347. Car sales in Attica dropped from 144,586 in 2007 to under 28,000 last year. Finally, about 65,000 enterprises ceased operations, accounting for almost 30 percent of the companies in the region.

Atticaís GDP declined by over 10 billion euros in just two years, from 110.5 billion euros in 2009 to 100.3 billion in 2011, according to ELSTAT, and likely fell to 90 billion last year.

ekathimerini.com , Sunday June 22, 2014 (19:45)  
September off to slow start in Greek bourse
Deadline looms for Cyprus vote on key bill
Europe drafts emergency energy plan with eye on Russia gas shut-down
Greek PM vows to bring down unemployment
Education minister calls for probe into predecessorīs reform plan
Following reports that a plan to reform the tertiary education sector launched in the spring of 2013 failed to lead to millions of euros in savings, Education Minister Andreas Loverdos on Mo...
Anti-racism bill goes back to Parliament
An anti-racism bill, foreseeing stiffer penalties for individuals and political parties that engage in racism or incite racist violence, is to be debated in Parliament on Tuesday following m...
Inside News
SOCCER
Fulham striker Mitroglou set to re-join Olympiakos
Greek champions Olympiakos Piraeus are set to re-sign Kostas Mitroglou on loan from English second tier club Fulham after the striker arrived in Athens for talks on Sunday. An Olympiakos spo...
SOCCER
Tough draw for Greek sides in Europa League group stage
Following Thursday nightís high, when all three Greek teams competing in the Europa League made it into the group stage of the competition, a harsh reality struck Friday as they found out wh...
Inside Sports
ANALYSIS
EUís three big problems all linked
The outgoing president of the European Council, Herman Van Rompuy, said at the weekend that his successor, Donald Tusk, currently Polandís prime minister, faces three big challenges: the sta...
COMMENTARY
A great president
I fully understand the countryís need for political stability, a necessity which makes the election of a president by the current Parliament absolutely imperative. At the same time, however,...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
†RECENT NEWS
1. Education minister calls for probe into predecessorīs reform plan
2. September off to slow start in Greek bourse
3. Anti-racism bill goes back to Parliament
4. Athens condemns Erdogan comments about Cyprus
5. Sanitary landfill for Ilia in Peloponnese given green light
6. Deputy Education Minister quits for Ďpersonal reasonsī
more news
Today
This Week
1. Excavation work at Amphipolis reveals section of marble mosaic floor
2. A great president
3. Erdogan visits Turkish-occupied Cyprus
4. Greek economy shrinks at slowest pace since late 2008
5. Donít feed the zombies
6. Greek officials meet to fine tune strategy for Paris talks with troika
Today
This Week
1. Attack on gay couple in Athens leaves one man needing surgery
2. The battle against progress
3. Thessaloniki mayor Boutaris sworn in wearing yellow star amid Golden Dawn protests
4. Strong undersea quake occurs off island of Milos, felt in Athens
5. Greek quest for debt relief faces hurdles in Paris
6. Hardouvelis, ECB executive discuss bank program, stress tests
†††Find us ...
††... on
Twitter
†† ††... on Facebook ††
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.