Greece’s problems with paying the bills

Greece’s problems with paying the bills

The Greek government’s budgetary woes are well known by this point, but a newly-released Flash Eurobarometer survey from last year reveals a different side of the financial crisis:

Greece’s latest deficit-cutting measures may help the country escape its debt crisis, but higher taxes and wage cuts will be a hardship for many Greek citizens, who already are the most likely in Europe to report problems paying their bills.

Fully fifty-seven percent of Greeks answered that they are “Constantly struggling and have fallen behind with some/many bills.” This number is twelve percent higher than the three runners-up, Latvia, Bulgaria, and Cyprus. Furthermore, forty-three percent of Greeks claimed that though they had no problems paying bills in 2008, they had begun having problems in 2009 and expected them to continue in 2010 — a number also twelve percent higher than the E.U. average of 31 percent.

It looks like this big, fat Greek economic collapse will last well into the future.