Greek salaries far below EU average

The Labor Institute of Greece’s two main unions, GSEE and ADEDY, highlighted in a report on Wednesday the decline of Greek average wages as a result of the economic crisis, saying that over the last two years they have slipped from 84 percent of the European Union average to 74 percent.

However, during the same period, the purchasing power associated with the average wage in Greece has halved.

The institute also found that roughly one in two Greeks had an income lower than 4,871 euros per year and was threatened by poverty.

Just over 44 percent of unemployed Greeks live in poverty.

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