Greece rid of budget watch but inflation, energy woes bite

ATHENS, Greece -

That gives Prime Minister Kyriakos Mitsotakis' center-right government greater freedom over the budget at a time when Greece, like all of Europe, is struggling with a post-pandemic cost-of-living and energy crisis triggered by Russia's war in Ukraine. As Moscow has cut back natural gas to Europe, energy prices have surged, fueling galloping inflation and threatening to plunge Europe into recession.

“I think the crisis is essentially continuing, it never ended,” she said. “What I see is a constant repetition. ... Unemployment is still high and salaries are low, while the cost of living is high.” In exchange, creditors exacted what many Greeks still see as a pound of flesh: deep state spending and salary cuts, tax hikes, privatizations and other sweeping reforms aimed at righting public finances. The economy contracted by more than a quarter, unemployment spiked to almost 28% and skilled professionals emigrated in droves.

In a tweet hailing the end of enhanced economic surveillance, European Commission President Ursula von der Leyen praised the “determination and resilience of Greece and its people” on Saturday.“Aug. 20 ... closes a 12-year cycle that brought pain to citizens, stagnation to the economy and division to society,” he said in a statement. “ no return to the mistakes that brought about the painful bailout adventure.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

There’s ‘not a whole lot’ Canada can do for Germany’s short-term energy woes: PMCanada can do little to help Germany this winter without the Russian oil and gas it relies on, Justin Trudeau said before a visit by German Chancellor Olaf Scholz. 'If we’re being entirely honest, there’s not a whole lot we can do in the very short term.' Justin, I wholeheartedly agree. Scholz you silly fellow, why act so doomy and gloomy, we Liberals are working hard to ensure that the world fossil fuel market remains under the control of true democracies, like China, while the rest of us use reliable Green technologies.🇺🇦🇺🇦 Care to comment on the longer term CanadianPM Maybe print some more money? Spend it on anything….print more
Source: iPoliticsCA - 🏆 36. / 63 Read more »

Germany will not discuss rapid expansion of LNG exports during visit to CanadaGerman Chancellor Olaf Scholz expected to focus on longer-term energy goals, renewable energy markets in talks with Ottawa Nothing is rapid in LNG! Lol. Trudeau and Scholz time would be best spent organizing an airlift of Canada Goose parkas and Hudson Bay blankets for working class Germans. 'Although Germany is interested in Canadian LNG, its leadership in Berlin has little confidence that Canadian companies are capable of delivering in the country’s time of need' BS; Cdn companies could absolutely deliver if liberal_party gov't would just get the f out of the way
Source: globeandmail - 🏆 5. / 92 Read more »

Canada-German energy agreement to focus on long-term energy planning: TrudeauPrime Minister Justin Trudeau is hinting that an energy pact planned between Canada and Germany will focus more on Canada's aim to be a long-term clean energy supplier to the world. Why are we signing agreements with these Russian appeasing Nazis? Shouldn’t Canada worry about Canada before any European country? Now that's more like a Trudeau style press conference. Lots of empty talk, little action, and a fervent hope that, when all is said and done, no action will be necessary.
Source: CTVNews - 🏆 1. / 99 Read more »