Employment and Social Developments in Greece

07-10-2015

This document presents employment and social developments in Greece up to 2015, by tracing the record of reforms and examining indicators since the years before the beginning of the crisis. In December 2014, the Greek crisis had decreased national income by 25%, compared to 2007. The postponement of necessary reforms was prominent among the causes of the crisis, and during the crisis the gaps in the social protection system delayed adjustments and worsened the impact of austerity measures. The reform agenda was assigned a key role and institutional reforms, started in 2010, are still incomplete. Unemployment and poverty mostly hit younger people, for whom a system focused on pensions offers no help. The third bailout agreement involves the completion of the reform agenda and addresses criticisms expressed against earlier programmes. This document was requested by the EMPL Committee and provided by the Policy Department A and the Economic Governance Support unit.

This document presents employment and social developments in Greece up to 2015, by tracing the record of reforms and examining indicators since the years before the beginning of the crisis. In December 2014, the Greek crisis had decreased national income by 25%, compared to 2007. The postponement of necessary reforms was prominent among the causes of the crisis, and during the crisis the gaps in the social protection system delayed adjustments and worsened the impact of austerity measures. The reform agenda was assigned a key role and institutional reforms, started in 2010, are still incomplete. Unemployment and poverty mostly hit younger people, for whom a system focused on pensions offers no help. The third bailout agreement involves the completion of the reform agenda and addresses criticisms expressed against earlier programmes. This document was requested by the EMPL Committee and provided by the Policy Department A and the Economic Governance Support unit.