Greek Unemployment will soon reach 30 percent

begin partial quote: "According to government statistics, the unemployment rate hit 27 percent this past November and registered a staggering 61 percent among those aged under 24 years of age with 1,350,181 Greeks officially registered as being unable to find work. Unbelievably, however, according to calculations by labor specialist George Romanias, the unemployment rate will soon surpass the 30 percent threshold, rising to some 2.3 million by the end of 2013. According to a report by the European Union's statistics agency, Eurostat, one-third of Greece's citizens are considered to be below the poverty level with another 27.7 percent on the brink of poverty or social exclusion. The Greek economy has already contracted by more than 20 percent and predictions are that GDP will have shrunk by more than a quarter by 2014."
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Les Miserables of Greece

It is distressing for all democracies to watch Greece (the originator of Democracy) have this happen. However, I think the main reason it is happening is that Greece (for the survival of it's people) needs to default on it's loans like many other countries around the world have done in the past. Otherwise, under present circumstances we might see something even more horrific than we have seen so far. The Golden Dawn (Nazi) party might be nothing to what we see in the future if this continues like it is.

Also, a GDP shrinking 25% is suicidal for any nation. For example, without a 3.3 % growth in any nation's GDP there can never be full employment. With a 25% reduction in GDP soon no one who stays there will have a job that gets paid for it. We are witnessing the end of Greece as a nation and government if this continues much longer.