Friday November 28, 2014 Search
Weather | Athens
14o C
8o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
One in two households is supported by pensions

 Greeks have slashed food, apparel, heating and travel spending

By Dimitra Manifava

Nearly half of Greek households live on the pensions of their elderly relatives as an increasing number of retired parents support their jobless children and their respective families, a recent survey has shown.

The study compiled by the Institute for Small and Medium-Sized Enterprises of the Hellenic Confederation of Professionals, Craftsmen & Merchants (GSEVEE) also found that growing unemployment and the resulting dive in incomes has led households to slash their expenditures, even for food, often at the expense of quality.

Pensions constitute the main source of income for 48.6 percent of households, the survey conducted in December found, which is particularly disappointing as far as the countrys national product and its social welfare system are concerned, the institute stresses. Salaries are the main source of income for 35.9 percent of households and profits from enterprises for 10.3 percent.

With 94.6 percent of households responding that their incomes have dropped by an average rate of 39.5 percent, it is no surprise that 34.8 percent of households delay the payment of dues to the state, to social security funds, to utilities and to banks.

This trend is expected to gain momentum in 2014, as 41.7 percent out of the 1,201 households that participated in the survey expect to be unable to meet their basic obligations this year. Regarding tax obligations especially, 44 percent said they will not be able to meet requirements. Should this happen, it could mean major losses for state coffers. Accumulated debts are a major concern for many households and one in three homeowners is concerned the property could be repossessed.

The data collected showed that 63.7 percent of households have cut down on food spending, 78.4 percent on heating, 90.3 percent on apparel, 90.5 percent on take-away food and 88.8 percent on travel expenditure. The expense categories households try not to cut from are health and education.

ekathimerini.com , Thursday Jan 23, 2014 (22:27)  
PPC profits power up in Jan-Sept
Papastratos banking on exports
Saudi group Olayan to enter Costa Navarino
Bank-financed property transactions rise a notch
Seven PASOK MPs voice support for party leader
Seven PASOK MPs on Thursday publicly backed Deputy Prime Minister Evangelos Venizelos and his plans for the party to play a leading role in a broader center-left alliance after ex-leader Geo...
New law could transfer control of unused buildings
Municipalities and private companies may soon get a chance to take over abandoned or empty buildings if a new bill drafted by the Environment Ministry is voted through Parliament. According ...
Inside News
SOCCER
PAOK is one win from Europa Leagues last 32
A late brace by Stefanos Athanasiadis gifted PAOK a precious win at Dynamo Minsk on Thursday, meaning that the Thessaloniki team is one win away from graduating from the group stage of the E...
BASKETBALL
First defeat for Olympiakos in Euroleague
Olympiakos suffered its first Euroleague loss of the season going down 89-70 at Laboral Kutxa on Thursday, although the Greek team remains the favorite to clinch the top spot in its pool. Th...
Inside Sports
COMMENTARY
The presidential election paradox
A few days ago, speaking with a visiting colleague who neither works in Europe nor covers events here, I suddenly felt how much we Greeks take for granted some things that should have worrie...
COMMENTARY
Scraping together the 180 MPs will not be enough
Even if the coalition government was to scrape together the 180-MP majority it needs to elect a new President in the 300-seat House, skeptics say, what will change really? There is one evide...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. PAOK is one win from Europa Leagues last 32
2. First defeat for Olympiakos in Euroleague
3. PPC profits power up in Jan-Sept
4. Papastratos banking on exports
5. Saudi group Olayan to enter Costa Navarino
6. Bank-financed property transactions rise a notch
more news
Today
This Week
1. Greece paralyzed by major strike, flights cancelled
2. Greek diplomat dies in fall under Thai train
3. Greece scrambles to find food, shelter for 700 migrants on crippled ship
4. Chief suspect in Piraeus bar shooting arrested
5. Scraping together the 180 MPs will not be enough
6. Troika talks to continue after failure to wrap up negotiations in Paris
Today
This Week
1. Give Greece a chance
2. Scientists expand excavation of ancient Amphipolis
3. Extremism from a bygone era
4. Greece paralyzed by major strike, flights cancelled
5. Piraeus nightclub shooting leaves 3 seriously injured
6. Coscos Greek unit adds multinational rail-freight client
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.