NEWS

The heavy burden of the IPOD generation

In the past, it was the baby boomers. Then came Generation X and, at the turn of the millennium, it was Generation Y. Are the 25- to 35-year-olds today the new IPOD generation? Not the electronic gadget but an acronym that stands for Insecure, Pressured, Over-Taxed and Debt-Ridden, an acronym created by the British periodical Reform following relevant research published in its last issue. As revealed by the study, the perception that today’s youth have been spoon-fed and have it easy with all the technological advances at their disposal is, in fact, quite far from the truth. In reality, today’s young people have a very uncertain future; they have to shoulder a heavy financial burden, and feel much more insecure than their parents, with the result that they lead less satisfactory lives. Experts have noted a number of factors that have created the IPOD generation, such as the uneven balance between taxes and expenses due to the aging population, forcing the present generation to support more pensioners. The research might well concern British society but in Greece the situation is not that different. It is not just the close family ties that keep the young at home until they tie the marital knot but the uncertainty that prevails among their generation, with massive unemployment, never-ending studies, low salaries, the rising cost of living and accumulated debts. Without a doubt the IPOD generation is here.