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I think the Greeks, like Italians have been fucked by the previous generations living way above their means and forcing younger ones to deal with the problems t
by marcyb5st 1y ago
I think the Greeks, like Italians have been fucked by the previous generations living way above their means and forcing younger ones to deal with the problems they caused.
I am not sure about Greek examples, but in Italy, among the bad things done just to ensure another term for a given political party, I hate "baby pensioni" [1] more than anything else. My 90-years old grandmother still benefits from this and after working until 47 she was allowed to retire with a decent pension (1000+ euros in today's money). So, she costed the other taxpayers 516k euro (1000 * 12 * 43) so far. And like her there were more than 500k people who took the deal and the majority is receiving/received more money than my grandma. The estimate is that the state handed out 9B euros/year for basically 45 years totaling 405B euros, which is more than 13% of Italy's total debt just for those pensions. If you add the cost of healthcare for those people over their lifetimes I guess you get that a single generation accounts for between 15% to 20% of the totality of the debt.
While the article is about something that goes in the complete opposite direction, it is also a short-sighted decision IMHO as it will surely worsen the fertility rate crisis that Greece is also facing. I mean, how can you have a child if you have to work 13 hours per day and a low salary to boot?
[1]https://it.wikipedia.org/wiki/Baby_pensioni https://it.wikipedia.org/wiki/Baby_pensioni