With the Greek sovereign debt extending into 2012, Greek parents with economic and financial difficulties are giving up their children – a surprise for a country where family ties are traditionally strong.
According to a BBC World Service report, more Greek parents are giving up their children because they can no longer afford to feed their children, much less themselves.
The Greek government is prepared to abandon the euro currency within the next three to four months, unless negotiations for a second 130 billion euro ($169 billion) bailout package can be resolved soon, said a government spokesman on Tuesday.
“The bailout agreement needs to be signed otherwise we will be out of the markets, out of the euro,” claimed Pantelis Kapsis in an interview broadcasted on Skai TV. “The situation will be much worse.”
Greece comes under high-income OECD group economies as to the classification made by the World Bank on the basis of income and region for the year 2006.
The Greece Economy has grown very fast through its services sector in the recent years. The tourism sector contributes a lot in the economic development of the country. Services sector constitutes around 75% of the total GDP in the country followed by the industrial sector.
For Greece, the economy is based on capitalism with the public sector being 40% of the Gross Domestic Product (GDP). Then for Euro zone economies, this country’s GDP per capita accounts for about 75%. Between the years 2003 to 2007 saw an economic growth of 4.00% in part due to infrastructural spending associated with the Olympic Games being hosted by Athens but also because of an increase of available credit. While this increase was sustained for some time, by 2008 a decrease of 2.8% occurred because of the global financial crisis, as well as restricted credit conditions.
In the wealthy, northern suburbs of Athens, where summer temperatures often hit the high 90s,
just 324 residents checked the box on their tax returns admitting that they owned pools.
In the wealthy, northern suburbs of Athens, where summer temperatures often hit the high 90s,
