Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Thousands protest as Greek workers strike over high prices, low wages

Published 04/06/2022, 02:28 AM
Updated 04/06/2022, 08:11 AM
© Reuters. FILE PHOTO: Commuters wait at a bus stop in Athens, Greece, September 3, 2020. REUTERS/Alkis Konstantinidis

By Phoebe Fronista and Karolina Tagaris

ATHENS (Reuters) -Thousands protested in Athens on Wednesday during a day-long nationwide strike over what workers call a "deepening crisis" of rising prices and squeezed incomes, disrupting transport, ferries, schools and public hospitals.

The country's two biggest labour unions, representing about 2.5 million public and private sector workers, called the general strike that culminated in a rally outside parliament.

For many of those there, everyday life has become unaffordable.

"Our life now is just being in debt," said Georgios Alexandropoulos, a 60-year-old courier worker.

"I owe the electricity company and my landlord, I'm two months behind in rent, and I owe the last two electricity bills. Soon we will be in debt to everyone...we can't go on like this."

Another protester, 57-year-old psychologist Michalis Tokaras, said he was forced to "cut back on everything".

"We have to choose between paying our mortgage or paying bills. We've reached the bottom," he said.

Police estimate at least 10,000 people turned up for the rally. "We won't compromise with inflation," one banner read.

Greece emerged from a decade of financial crisis in 2018, only for the coronavirus pandemic to bring global travel to a standstill two years later, hurting its vital tourism industry.

Now, soaring energy prices, exacerbated by sanctions against Russia since its invasion of Ukraine in February, have further hurt workers' pockets.

"For the last 14 years, workers have been carrying the burden of a deep crisis that has affected everyone's incomes and lives," said GSEE, the country's umbrella private sector union.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

"As the years go by the crisis is constantly deepening, the burdens remain, our rights are shrinking."

Greece's annual consumer inflation surged to a 25-year high of 7.2% in February on the back of rising energy, housing and transportation costs.

The government has spent about 3.7 billion euros ($4 billion) since September to alleviate the burden of rising energy and fuel costs for farmers, households and businesses.

GSEE said in March it had proposed a 13% increase in the monthly gross minimum wage to 751 euros due to inflation.

The conservative government raised the minimum wage by 2% to 663 euros in January and Prime Minister Kyriakos Mitsotakis has promised a second, larger increase from May 1.

For the striking workers, the measures do not go far enough.

"Recently, our salaries – for those of us who have jobs – last for only half a month's worth of expenses," said Christos Katsikas, a 60-year-old school teacher.

($1 = 0.9191 euros)

Latest comments

They should focus their anger at Putin and Russia they are the reason for the high gas and oil prices not the greek government.
that's not entirely true
 how so?
Probably need better leaders and conservative economic policies
This may be happening in Greece for now, however, this will spread all over the world. A global depression is near.
Here in Greece things are getting worse! The taxes are going higher and higher,wages are down! People in Greece are abandoning their country for a better living!
The only country in Europe that the last 15 years the wages are getting low and low and the cost of living every day is rising
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.