Saturday February 28, 2015 Search
Weather | Athens
11o C
6o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Youth without a future

By Nikos Xydakis

I was recently having a discussion with a group of executives who work at the European Investment Bank (EIB), one of the world’s biggest public lending institutions – bigger even than the World Bank. One of the people I was talking with was working on development programs designed to help countries in Africa and the Pacific.

None of the EIB officials I spoke to had a clear idea of the mess that Greece is in. I told them that the country is in deflation, at -2 percent for 15 months in a row; that the economy has seen a reduction of 20 percent in foreign investment; and that there are essentially four systemic banks whose collective rate of bad loans is as high as 40 percent.

Their response was to say that “instead of spending time in Africa, we should come and work here. Things are actually worse over here.”

It was during the same conversation that I got their opinion on how they see Southern Europe in the future. And the truth is that it did not look good. Young people from the area applying for a post at the EIB, they told me as one example, often have very little in the form of work experience, not even an internship of a few months. Employers almost by default turn to candidates from Europe’s northern countries who are more likely to have a six-month internship or some other form of work experience on their record. Their unanimous conclusion was that in a couple of years, the EIB staff will no longer be able to train bankers from the European south.

Discrepancy and inequality can take many different forms. Depriving young people of their future is perhaps one of the ugliest. This is not just about sacrificing an entire generation; rather, it is about undoing the necessary conditions for the reproduction of a society, of a nation. And the problem is more intense in the European south.

You do not have to be a parent to be concerned. Every Greek has to ask him or herself who is going to work in the short-to-medium term in order to produce wealth and a competitive advantage, so as to keep the economy and society in working condition.

For the time being, Greece’s exports and industrial production have been steadily declining. At the same time, domestic demand is having to be met through an increase in imports. It is a self-perpetuating cycle of decline, and not just because the trade balance is getting worse but mainly because the whole process is having a paralyzing effect on the minds of the people and on the morale of the entire nation.

ekathimerini.com , Friday June 20, 2014 (19:54)  
A unionist agenda
The beguiling limelight
A breath of opportunity
Give the green light
Tsipras unveils coalition´s first bills, due next week
Prime Minister Alexis Tsipras set out on Friday his government’s immediate legislative plans, while at the same time insisting he would continue to pursue debt relief and refuse to sign a th...
Berlin clears extension as lenders ramp up pressure
There was strong backing in the German Parliament on Friday for the extension of Greece’s loan agreement but reports suggested that the country’s eurozone partners would continue to keep up ...
Inside News
Greece seeks negotiations on ECB bond repayment
Greece called into question on Saturday a major debt repayment it must make to the European Central Bank this summer, after acknowledging it faces problems in meeting its obligations to inte...
Piraeus plans are coming in next few weeks
Finance Minister Yanis Varoufakis on Friday visited the installations of Piraeus Container Terminal (PCT), the local subsidiary of Cosco, with Chinese Ambassador Zou Xiaoli, in another effor...
Inside Business
BASKETBALL
Spanoulis leads Olympiakos to win over Malaga
A good second half was enough for Olympiakos to get the better of Unicaja Malaga (77-72) and score its seventh win in eight games at the second group stage of the Euroleague on Friday. Playi...
SOCCER
Ten-man Olympiakos couldn´t overcome Dnipro
Olympiakos drew 2-2 with Dnipro from Ukraine at home on Thursday, playing almost the entire second half with a man down, to bow out of the Europa League, despite facing an opponent which on ...
Inside Sports
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Greece seeks negotiations on ECB bond repayment
2. Spanoulis leads Olympiakos to win over Malaga
3. Piraeus plans are coming in next few weeks
4. Slowdown in tourism bookings from Germany
5. Economy grew by 1.3 pct in Q4 of last year
6. Gov’t plans tax on foreign-based funds
more news
Today
This Week
1. A unionist agenda
2. Greece seeks negotiations on ECB bond repayment
3. Tsipras reversal draws Greek sympathy as party rumblings rise
4. Gov't official: bill reinstating ERT, rehiring staff to go to Parlt on March 5
5. German lawmakers approve extension of bailout program for Greece
6. German MPs begin debate on extending Greek bailout program
Today
This Week
1. Time for Alexis Tsipras to keep his nerve
2. Greek bailout deal faces review by euro officials next week
3. Greece says eurozone deal won time as cash bled from banks
4. The ignorance of the West about the culture of Islam
5. A fierce battle looms
6. Spain said to lead push to hold Greece to terms as Podemos grows
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.