OPINION

January 3, 1955

DECREE BY KING PAUL: «(…) I know that there are parts of the country and sectors of the population who are not benefiting from economic growth and to whom Greece should turn its particular attention.» MESSAGE FROM THE PRIME MINISTER: «(…) The period of sacrifices has almost passed.» CAROLS: (…) Children greeted 1955 with the traditional New Year carols, beginning at dawn. THE ECONOMY IN 1954: (A review by Georgios Diamantikos): The outgoing year can be characterized as the first postwar year in which our economy ran smoothly and within a framework of economic stability, thanks to the successful containment of inflation that had been plaguing the country over the previous, postwar years. (…). The additional domestic income was not distributed fairly to the entire population due to the upheaval created after the devaluation of the drachma in April 1953. The problem of unemployment and under-employment continues to be as acute (…). In effect, the progress made has contributed very little toward improving the poor prewar economic situation.