NEWS

Low earnings and high cost of living in Greece

«Are you short of money? We have the solution which will enable you to earn more!» «You can earn between 500 and 1,000 euros working from home.» Newspapers and websites have been swamped with advertisements like this, which actually offer anything but a recipe for success to anyone who buys into them. But they use magic words such as «extra earnings,» «second job,» and «work from home.» These words are striking a chord in many Greeks, who have watched the country’s high cost of living create an ever-growing hole in their pocket. According to European Commission data published in an annual report by the Labor Institute of GSEE (General Confederation of Greek Labor), Greece ranked near the bottom in terms of gross income – just ahead of Portugal. Average monthly gross earnings for Greeks stand at 1,315 euros – some 715 euros less than the average for the old EU 15. So it is not surprising that a million Greeks have resorted to working two or three jobs to make ends meet, since one salary – often the minimum wage – cannot meet the requirements of modern life.