Is Greece becoming the EU’s ‘Third World’?

Dear reader,

This is our weekly round-up from Greece.

Greece has the lowest average annual wage in all EU countries and ranks last with a negative figure for disposable income. According to the OECD, the country is 3rd from the bottom in average wages among 35 countries and has the 7th highest average working time. It doesn’t sound good, right?

The 2024 budget was submitted to Parliament. Some extra 2 billion are to be collected from taxes, while very little extra funding is provided for hospitals and education. Also, public debt is expected to drop to 152.3% of GDP in 2024 from 160.3% of GDP this year (It was far lower when Greece was told it should go under structural adjustment, remember?)

SYRIZA is ‘game over.’ The main opposition party is disintegrating as nine more MPs, an MEP, and dozens of members from its institutions are breaking from the party. New leader Kasselakis isn’t doing well at all, and it’s also depicted in polls.