Is Greece Suddenly Doing Really Well?

Подписаться 2,5 млн

Просмотров 654 тыс.

50% 1

Play World of Warships here: wo.ws/3GpEFdS
Thank you World of Warships for sponsoring this video. During registration use the code HPPYNWYR2024 to receive a huge holiday starter pack including a free ship, 300 Doubloons, 1 million Credits, 7 days of Premium Account time, 1 ship, 3 Santa's Gift containers, the New Year Constellation flag, and 10 New Year Sky camouflages. Applicable to new users only.
Greece became infamous for their economic stagnation following adoption of the Euro and subsequent over-spending and debt accumulation. But in recent years their economy has been improving and, while it isn't out of the woods yet, there have definitely been big improvements that are worth celebrating. Are they still broke, or will Greece's economy be an example to others how to recover from financial meltdown?
This video was made possible by our Patreon community! ❤️
See new videos early, participate in exclusive Q&As, and more!
➡️ / economicsexplained
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
Check out our other channels ▶️
Epic Economics @EconomicsIsEpic
Context Matters @Context.Matters
And our Language Channels →
WirtschaftsWissen (GER) - / @wirtschafts-wissen
L'Économie Expliquée (FRE) - / @economie-expliquee
Economia Explicada (POR) - / @economia_explicada
Economía Explicada (SPA) - / @economia-explicada
اقتصاد العالم (AR) - / @aqtisadalealam
経済会話 (JP) - / @keizaikaiwa
✉️ Business Enquiries → hello@economicsexplained.com
🎧 Listen to EE on Spotify! 👉 open.spotify.com/show/5TFVUEJ...
Also on Apple Podcasts or anywhere else you listen!
#EconomicsExplained #EconomyofGreece
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
ECONOMICS EXPLAINED IS MADE POSSIBLE BY OUR PATREON COMMUNITY 👊🙏
Support EE by becoming a Patron today! 👉 / economicsexplained
👑 ROYALTY CLASS 👑
Juan Benet
UPPER CLASS
Valkmit, Randall, Jeromy Johnson.
ELITE CLASS
Charles Youngs.
UPPER MIDDLE CLASS
Michael Wakim, Pineapples&bricks, Adrian Bellomo, Peter Wesselius, Michael Ling, Stephanie Roth, Frank Soltero, David Poliakoff, Jay Eno, Grégoire Duchêne, Sophie G, Brett Jubinville, Anthony Roberts, jill hoffman, Nathan Ngumi, JKH, Post Apocalyptic In Missouri, Laor Glukhovsky, Kib Bibens-LeFebvre, Forodon, Paul Ashworth, Wendover Productions, Andrew Harrison, Igor Bazarny.
MIDDLE CLASS
Justin Thiele, William Sherlock, Gerhardus, Derrick Yowell, DionysusLin, BUBBA CONWAY, Chris, Brian, Vladimir Zotov, Seth, Dragan Alexandru, Tenebrion, Jason, Alex Wong, Robert Abraham, Jamie Costello, Rick Van Velden, Leah Klearman, Bacongravy, Klaus Clemens, Ps0Fa, Abel, Eric Slimko, Empyre18, Brian Jackson, Istvan P, Leonid Sorokoumov, Thomas Davenport, Nicholas Luchetta, Kim Brand, Ted Marcy, Joshua White, John Issitt, Joe Ryan, Patrick Staight, Wees Kendall, Shane Guthrie, Andrew Baartz, Jim Kirker, Karan Mehta, roGER, Marton Csikos, Randy Cleary, Arjan, Liubov Zvereva, Michael D. Hall, Long Phan, Craig Mews, Kent Klatchuk, Zac Woodrell, Roman~1, Chris Hawkins, Wesley Fite, Robert Nyborg, David McIlveen, Anthony, Arend Peter Castelein, Daniel Alberto Vázquez Rodríguez, Kamil Sicinski, Dodd Willingham, Leo Vassershteyn, "How long can a profile name be... this long... Wow, this is longer than I would have expected. Good lord, the letters! Secunda!", Michael Kürbis, Hugh Harris, David W., Dar H, Will, Kheng Lai Tan, David Taylor, Scott Greenwood, Jane Walerud, Zachary Demko, Michael Wolff, Siegfried Eggl, PM, Jack Annear, michael, Franklin, Trevor, Marcel Roquette, Daniel Hall, Connor Costello, John D Tyler, Petronio Coelho, Kevin MacIntyre, Travis Thompson, Matthew Eggleston, Kenneth Lum, Andrew Vinnichenko, Zachary Kasow, Johannes, Reuben Field, Nigel Pauli, Jacob, AB3, Sridev, Matt McKee, Victor T., John C, Rimvydas, John Downie, Donald Wedington, Demo sthenes, Ed, Hayden van Reyswoud.
The Economic Explained team uses Statista for conducting our research. Check out their RU-vid channel: / @statistaofficial

Опубликовано:

14 дек 2023

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист

Посмотреть позже

Комментарии : 1,1 тыс.

@EconomicsExplained 5 месяцев назад

@eemelianttonen8641 5 месяцев назад

World of warships has about 20 different currencies to use when buying ships. The economy in the game is so ridiculous you could do a video of it in itself.

@Memento-_-Mori-_-982 5 месяцев назад

Could you do a video on Albania when you get a chance please!

@TheAllstar420 5 месяцев назад

I have a VERY hard time believing you actually play WoWs seeing as almost every RU-vid creator as of late is schlepping their ads all over the place - whats you in-game name? 🤔🧐

@TheAllstar420 5 месяцев назад

@@eemelianttonen8641 Silver, Gold, Coal, Steel, Community Tokens, and whatever else they come up with at that moment in time - you are not wrong at all! lol

@AlexanderTheGoodEnough 5 месяцев назад

your comments section looks like it's full of bots. there are several "formulaic" response patterns (I find the "greeting from and I have nothing but hope and love for " incredibly irritating). if you are using bots for traffic, hire better networks.

@nialldempsey7742 4 месяца назад

After spending the last 15 years in economic limbo, the Greeks deserve a bit of a break. Glad their economy is turning a corner but its people need to feel the recovery too. All the best from Ireland

@instastoump 4 месяца назад

We won't as Koulis and the gang hate us but thank you 🤗

@nialldempsey7742 4 месяца назад

@@instastoump I honestly have more confidence in your economy than Britain's, and not just because Greece is still part of the EU.

@user-sf4ps3si7m 4 месяца назад

Our ''friend'' Europe will take care of that, as in the past.

@sanosay 3 месяца назад

which break? it sucks here all the way

@user-vo5mf3ly9s 3 месяца назад

@@instastoumpενώ οι άλλοι μας σωσανε ρε μεγάλε...

@TheDynamicsOfMoney 5 месяцев назад

Yay, Greece! 🇬🇷 It's heartwarming to see such positive news. Go Greece, Greetings from a Canadian. keep shining! 💙🌟"

@kragxciv2794 5 месяцев назад

How does this comment have a thousand likes in only 43 minutes

@glorious_help 5 месяцев назад

sorry mate but I live in Greece and the current muppet government took more and more debt and the only ones winning are the elites and foreign funds,,.. there is no positive news it's all bs.

@dreamcrusher112 4 месяца назад

@@kragxciv2794 bot

@DiviAugusti 4 месяца назад

@@kragxciv2794It apparently stopped getting likes after the first 43 minutes too. What is this some tactic to get views on a new channel by paying for your comments to be at the top of popular video releases?

@SEN.Dnudes 4 месяца назад

@@kragxciv2794 dude, internet was always broken

@jessicarc1992 5 месяцев назад

Amazing country, amazing people and amazing language ❤️ Long live Greece ! Greetings from Portugal

@thanosbouros2144 5 месяцев назад

Best football players per capita in the world lol Love Portugal

@marioskoutras6583 4 месяца назад

Really? Come and live here then. More like amazing idiots who never pay taxes, absolutely horrible government, stupid young adults who live with their parents forever and stupid parents who allow this to happen, mostly corrupt police, corrupt politicians, useless wages etc etc. Acropolis, a bunch of beautiful statues and an interesting history is just not enough for a country to be "Amazing".

@user-sf4ps3si7m 4 месяца назад

Thank you Portuguese friend.

@yunalee13 3 месяца назад

Thank you Portugal! Same words go for Portugal too!!! Lovely country! ❤

@gkaskavelis 3 месяца назад

Thank you for the support ❤😢

@dionisisbalas6990 5 месяцев назад

As a Greek I am truly sorry but this is kind of misinformative, while the wealthy are doing well, the middle and lower class are struggling so much that people cannot keep up with the prices. I am an economist feel free to debate this with me.

@chadmcaffee902 4 месяца назад

Please provide an example of a nation where this isn’t the case. Literally everywhere the lower and middle classes feel this way.

@dionisisbalas6990 4 месяца назад

@@chadmcaffee902 Norway is a really good example also this channel has done a phenomenal job of covering that

@brandonlopez3414 4 месяца назад

I think you missed the point of the video. It wasn’t to say the middle and lower classes aren’t struggling just that the outlook for the nation is better than it has been for a while now

@rodrigo445678 4 месяца назад

Are they improving compared to the situation they were? Also, were you confortable when most people in Greece were dependent on government subsidies?

@dionisisbalas6990 4 месяца назад

@@brandonlopez3414 metrics unfortunately only tell you so much here is an example : unemployment in Greece is down however most workers even skilled are paid minimum wage which currently as of December 2023 is 678 euros. Today an average home of 30 square meters costs costs 350-400 euros a month bills NOT included. Add to that the very expensive due to inflation items that you need and there is nothing for the youth to grow wealth my friend. Young Greeks either live with their parents because they can't afford housing or they go abroad givins us a huge brain drain problem

@SteinadlerYT 5 месяцев назад

Greece, such a beautiful country, and they deserve a rise. Greetings from a German

@4363HASHMI 5 месяцев назад

The roads are nasty unless you take the ring road so you don’t have to witness broken down crumbling infrastructure; speaking of my trip to Athens

@aemi_sa 5 месяцев назад

awwwww süss

@vladtheimpalerofd1rtypajee316 5 месяцев назад

Yeah

@electricaviationchannelvid7863 5 месяцев назад

Greece got the biggest financial bailout of our history of any single country...280 Billion from the IMF and almost 60 Billion from the EU... Why they needed it? Because they are lazy useless...can not manufacture or invent anything...they are just skimming off other traders, shippers, tourists...

@lawbringer9857 5 месяцев назад

Have some shame Kraut thanks to your country Greece today is just a debt colony of Europe and the IMF, a third tier country in Europe. Looked down upon by anglo-saxons and Germans.

@Nom-rs5bj 5 месяцев назад

As a Frenchman I visited Athens and traveled a little in the country this year and I was able to see that Athens is very marked by the crisis that Greece has experienced, a city generally in poor condition but we also feel that the country is emerging from it and there is new momentum. If Greece finds political stability it could have a good future. FRGR ❤

@marioskoutras6583 4 месяца назад

"Emerging..." Trust me, it only gets worse day by day.

@davidoffberlin 4 месяца назад

I also went to Paris and can only say the same. Hope your country recovers

@Nevio857 4 месяца назад

Paris is much worse than Athens

@byronarvanitis1189 4 месяца назад

merci beacoup mon amies! ❤💙

@user-1rg9f2-g3l6d 4 месяца назад

@@davidoffberlin Unfortunately, the whole of Western Europe is in the same boat.

@NinjaMan47 5 месяцев назад

We see frequently that even when the broader economy might be improving, most individuals within that economy don't feel any better off. Chalk it up to austerity, heavy taxation or wealth inequality; Greece has felt all three.

@ayoCC 5 месяцев назад

If the taxes arent going toward building a better standard of living, where is it going I wonder if there's a public budget of greece

@ArawnOfAnnwn 5 месяцев назад

Greeks still don't pay heavy taxes. They've felt austerity and inequality sure, but not that one. Unless you were referring to some earlier period of history.

@angryvoices177 5 месяцев назад

rather simple answer , paying off out dept@@ayoCC

@aokiaoki4238 5 месяцев назад

@@ArawnOfAnnwnGreeks pay very heavy taxes, VAT is Greece is 24%, income, property tax, fuel tax, luxury tax and a whole series of endless taxes.. Nevertheless Greece is Booming right now.

@noneofyourbusiness4830 5 месяцев назад

@@aokiaoki4238But at the same time, I heard thar tax evasion is like a national sport in Greece.

@coco_maroco 5 месяцев назад

As a Greek living in Thessaloniki (2nd largest city), I will present both sides. Starting off from the positives, it is true that we have regained creditors' trust. Not just the country itself has been upgraded to investment grade by various institutions, but some of our largest banks too. We have also paid off our entire debt to the International Monetary Fund/IMF, and are continuously paying off other debts that we have. Debt-to-GDP ratio is decreasing. Secondly, foreign investments are flowing once again in the country. Hollywood films are being shot here (not just in Athens) like one of Sylvester Stallone's, many public infrastructure works are in place and projects such as Thessaloniki Metro have been resumed and largely completed (in its final stages). There is visible change. As the video mentions, COVID did serve as a blessing. COVID allowed Greece to digitalize and make a lot of processes faster (for example we have gov.gr sites that allow people to print documents, find jobs in the public sector etc etc etc faster and more conveniently). We are no longer under EU supervision for our debts and no longer in bailout programs which means we have much much more flexibility in all aspects now. Now the negatives, although debt is decreasing, it is also increasing. Overall debt has increased a few tens of billions euro. Citizens' purchasing power has (statistically) decreased in comparison to 2019 (when the current government was elected after SYRIZA's rule from 2014 to 2019). Taxes have increased which is contrary to what the current government promised when it was elected in 2019. Wages have increased but their increase is counterbalanced by the massive growth of inflation, meaning that this has not had any meaningful effect. Welfare is not enough to help people who are struggling. Greeks' household savings are the lowest in the EU (Google "Gross household saving rate 2022 EU"), social policy is in general absolute garbage (Look at the massive wildfires ravaging the country every summer for example, although climate change is responsible for accelerating dry conditions the Government does not have a proper plan for combating the wildfires. The Fire Department is criminally neglected). Education is still extremely underfunded. Cartels are artificially raising prices of some products and the Government does little about that blaming the war in Ukraine as a scapegoat. The shadow economy has grown.

@redofdeathGR 4 месяца назад

The negatives sound more like the 2023 election program sponsored by the opposition, which the Greek people downvoted massively in what was acclaimed as a historic defeat. These arguments were so blatant and had no connection to public opinion that they even led to the dissolution of the SYRIZA party last month. Greece is on a trajectory to sustainable growth, and everyone will soon feel its impact once the remaining inflation fully subsides. We must get over the misery and bitterness we accumulated during the past decade. Let the people breathe for a change.

@steliosslkds 4 месяца назад

Οι φοροι επεσαν ζαιουλη!!!!Που ζεις και δεν το ειδες?Δεν αποδιδει η κυβερνηση τα παντα στον πολεμο στην ουκρανια....Και για εξηγησε μας αυτο περι παραοικονομιας!!

@bellosjt 4 месяца назад

Sorry for the dissolution of your political party my friend(syriza).You will feel better...

@UserUnknown123__ 4 месяца назад

@@bellosjtΣταματα να πονας ασχετε θετικα αρνητικα ειπε και ηταν αντικειμενικος.. κατι τυποι σαν εσενα θα επρεπε να τους απαγορευουν να ψηφιζουν

@nikospatsiatzis4309 4 месяца назад

You claim that taxes have increased from 2019 onwards, yet no tax rate was increased and over 30 taxes were decreased. How some people cannot comprehend the difference between tax rates going down and tax revenues increasing due to compliance is always interesting to see. Also, the shadow economy has decreased a lot, as evidenced by the halving VAT gap contrary to your remarks. Generally, a rather ok comment if one takes into account your rather obvious political inclinations.

@francesco3089 5 месяцев назад

I wish Greece the best. It shaped the Western civilization as we know it today. Lots of love from Italy

@dianapennepacker6854 5 месяцев назад

Hopefully Southern Italy gets better too! The disparity is always so surprising to me, and I would have always guessed Southern Italy would be the richer part.

@hasinabegum1038 5 месяцев назад

@@dianapennepacker6854Italy is falling apart for low birth rate and rapidly ageing population

@diegoyuiop 5 месяцев назад

@@dianapennepacker6854 Why did you expect the South to be richer?

@stevo728822 5 месяцев назад

Not the same Greeks.

@francesco3089 5 месяцев назад

@@dianapennepacker6854 much has changed since the Magna Graecia days. Nobody is doing anything serious to decrease the disparity between the North and the South in Italy, the situation is only going to get worse in the foreseeable future. The South is depopulating gradually, the national population is decreasing, births are at their lowest and those who still vote elect far right politicians who are anti-immigrants, who would seriously benefit our ageing population, especially in the South. The future is not bright.

@maxwellbailey6055 5 месяцев назад

We took a ferry from Athens to Paros this summer, coming from the landlocked US I have never seen this many 300+ people ships in one place. Sitting outside for hours traveling through the evening was an unforgettably spectacular experience. All love to Greece.

@snakesmind-uroborodjinn3471 4 месяца назад

What landlocked US are you talking about? The USA has access to both world oceans and also the Great Lakes which are the size of seas.

@Nevio857 4 месяца назад

Landlocked US? You are from the US and you think it's landlocked? And so many people liked your comment too?

@deaththekid3998 4 месяца назад

@@snakesmind-uroborodjinn3471bruh it was obviously a hyperbole, he means he’s from a Midwest state where the closest body of water is hundreds of miles away

@Tama-zephyrwindlass 3 месяца назад

@@snakesmind-uroborodjinn3471certain parts of the country are considered landlocked.

@venus_envy 17 дней назад

@@snakesmind-uroborodjinn3471 I think this person obviously meant to convey that he is from a landlocked state WITHIN the US, of which there are many! If Maxwell is from Colorado, for example, that would give him the experience in his life of living somewhere that is basically in the middle of his country/continent, and he would not have seen many ships outside of lakes and no islands.

@talp0ne747 5 месяцев назад

That's an amazing news, our Greek brothers deserve to shine again 🇮🇹♥️🇬🇷

@lawbringer9857 5 месяцев назад

Two failed Nations, along with your brother's the Spanish and Portuguese. That's why it's laughable for people to argue that all Europeans are in the same racial group. Mediterranean groups like the Spanish, Greeks and Italians are considered as Hispanics/Latinos. They are in a completely separate group to Northern European both culturally and genetically.

@talp0ne747 5 месяцев назад

@@lawbringer9857 one face, one race 🇮🇹♥️🇪🇸🇵🇹🇬🇷

@Abotekapio 5 месяцев назад

@@lawbringer9857Please stop spreading your racist views. You are obliged to respect other peoples’ cultures and you should learn that in fact all people are equal. There is no superior race

@aetherion7 5 месяцев назад

@@lawbringer9857 No intelligent European care if YOU consider European tribes "Hispanics/latinos" - which is not EVEN a race, but MESTIZOS. :)

@lawbringer9857 5 месяцев назад

@@Abotekapio Facts don't care about your feelings. What have I said that's incorrect?

@Ptolemy336VV 5 месяцев назад

Greece is just incredible. The spectacular beauty of it's immensely diverse landscapes and seascapes, all the way to it's incredibly hospitable people, to it's wonderful history and culture and to it's heavenly food. Truly a country to my heart

@ashokathegreat4534 Месяц назад

Greece doesnt have diverse landscapes

@user-so5mx9zl6c 4 месяца назад

Shipowners that also happens to be Greek media owners are in control of Greece's current situation. Also it is interesting to search who owns the electricity companies. Unitary parliamentary republic has turned into Druglord republic of Banana

@mouzourakis6702 3 месяца назад

Εσύ βλέπεις Ζαραλικο σίγουρα

@uweinhamburg 4 месяца назад

During the crisis, there was a lot of criticism here in Germany about financial help in the form of guarantees and loans. As far as i know, Greece has paid back everything to the last Euro, including interests. Best greetings to our Greek friends and partners. All Greeks i have met until now have been friendly, hard-working people - they have earned a great future! 👍

@alexrenn2479 4 месяца назад

Germans must remember that they bailed out the banks, not Greece, but your words are kind. The creator of this video is making ugly stereotypes of Greeks and misleading us. He knows very little about economics.

@user-sf4ps3si7m 4 месяца назад

Germany was never fair towards Greece. We know you hate us and you understimate us. We know you believe we are inferior to you. In Greece we say, never mind ''good heart''. World is full of changes....

@geisterfahreruberholer2171 4 месяца назад

@@user-sf4ps3si7m It is not hate, we just dont trust you because you cheated your way into the Euro. You wouldnt trust yourself either, if the situation was vice versa. Also you insulted Merkel although she safed you. She gave you money while the majority of Germans refused that. Biting the hand that feeds you never turned out good.

@user-xj2eg4te2i 3 месяца назад

'Future' for a couple of elite families. There is great inequality here and no welfare state. I admit that we have freedom of speech

@Motorhead538 3 месяца назад

They helped greece so much thats why we have no food... germans they care about greeks😅😅😅😅

@john-carl2054 5 месяцев назад

As a Greek admirer I sincerely hope that everything works out.

@AlexanderTheGoodEnough 5 месяцев назад

I'd say I'd agree, but I'd be lying. I just want things to work out because I think mediterranean women are hot.

@Asvaloupas 4 месяца назад

Wow now that is a good reason.@@AlexanderTheGoodEnough

@michaelplath9618 5 месяцев назад

Here in America around 2013 I worked with a Greek guy when we were in our 20s. He was upbeat and a lot of fun but knew he was lucky to have American citizenship through his mother. He said all his friends back home were kind of screwed and couldn't really get any jobs that would help them get anywhere in life, if they could get jobs at all. He told us he left because he didn't think he'd have any kind of chance at making a life; keep in mind this isn't a warzone. It was purely the economic situation. I feel for a whole generation of kids who reached adulthood only to get the rug pulled out from under them. Sincerely hope Greece is finally starting to turn a corner for their sake.

@clray123 5 месяцев назад

Their government basically stole money from foreign lenders. And the citizens stole money from government by tax evasion. What do you expect?

@user-xj2eg4te2i 3 месяца назад

The guy was right 😢 That is the truth even today

@nastap4165 3 месяца назад

it's much worst today as it was during the first "EVER LASTING CRISIS "!!!!

@RektedbyPaler 3 месяца назад

We are much worse right now that we have ever been, My family statistically had like 30% more purchasing power during the financial crisis than it has now. Inflation has destroyed us and there have been no raises at all. If we rented and didnt have savings we would not be able to afford living.

@Motorhead538 19 дней назад

They speak for a small touristic area and they think greece is normal country !! Its only food and drinks there is no industry....😅

@quantummight2972 5 месяцев назад

A major issue that was not mentioned is that many jobs are part time. Although we see that a lot of people are employed, the salaries are barely enough to sustain a one-person home. Thats why a lot off people here in greece need two part-time jobs. I feel like this should be discussed when figures like employment rates are displayed, as was the case here.

@rodrigo.gibson 4 месяца назад

Living in Greece now! Ionian Coast (west). We totally love this area of Greece, great fresh food (we've got citrus fruit trees in our garden and even now in the winter we can enjoy fresh OJ and lemons for free), veggies and fruits are available year round at reasonable prices, benevolent weather even in the winter, if you don't mind a fresh dip in the sea, we do it often even in winter. yes there is quite some bureaucracy, and petrol and energy prices are high relative to GDP per capita, but it's an overall great country to live in if you are a digital nomad working for foreign clients.

@vasilisdx1 4 месяца назад

everyone HAS to investigate western greece. clean beaches,green everywhere and also mountains for all kind of sports. search also for preveza

@tuberroot1112 5 месяцев назад

The "economic mismanagement " was forced upon Greece by international loansharks who were keen to go for high risk, high interest lending but tried to avoid the consequences when the high risk part went wrong. For a decade Greece demanded debt restructuring because they could not take on more debt and could not keep up payments. Instead the IMF and EU banks forced them to take ever more lending , knowing they could never repay it. Greece was sacrificed to prop up German regional banks who had made high volume of high risk loans and were in danger of going under.

@alexanderSydneyOz 4 месяца назад

yeah, right! No one can force you to borrow more. Your post is just whingy untrue conspiracist rubbish spread at the time, to avoid recognising that Greece's governments were corrupt and wasteful. Stunningly so. PS: banks don't lend to borrows if they know the borrower could never repay it. Do I need to say why??

@advicepirate8673 4 месяца назад

This reads like the fantasy narrative of a professional victim. Nobody forced Greece to take out any loans. Nobody forced Greece to LIE about their actual debt. Lies of omission to paint a picture of a country that never existed.

@ravanpee1325 4 месяца назад

Greece forged their numbers and statistics to enter the Euro zone..tax evasion and corruption was the norm..of course a state can't function like this and everyone participated in this robbery

@mehmetariftasl8277 2 месяца назад

I wish all the best for my greek brothers and sisters. I know how it feels to have economic inequality, it sucks. Love from Türkiye 🇹🇷🧡🇬🇷

@marianmoses9604 4 месяца назад

As a Greek-American who visited Greece in 2014 and witnessed the widespread despair at that time I am pleased to hear that things are finally looking up for the nation of my father’s birth. Opa! 🇬🇷

@thomakis29 4 месяца назад

Μιλά ελληνικά

@SigFrid1985 5 месяцев назад

I really would love a video like this but about Portugal since it was a bit close to Greece back in Euro-Crisis.

@VascovanZeller 5 месяцев назад

No you don't. Regards from Portugal

@investorsam 5 месяцев назад

Ditto, please make a video about Portugal ❤

@milomhoek 5 месяцев назад

Me too. I think it would be similar but less "negative" as the economic downturn during the euro crisis was less severe and the post crisis growth has been a lot stronger, Portugal has a higher GDP then in 2008 (last peak), while Greece has still a lower GDP than its peak in 2008. Also the debt to GDP ratio is approaching 100% for Portugal while in Greece it is still at ≈170%

@danieltk 5 месяцев назад

A Portugal video would be nice!

@AlexanderTheGoodEnough 5 месяцев назад

eh, gonna have to disagree. Portuguese women aren't as hot as Greek women.

@user-nu6hc5xq5j 5 месяцев назад

As a greek citizen and an educated economist i should also point that the economic success of my country greece depicts only in numbers.Our debt is ever encreasing,our gdp is historically low since 2010.Our society ranks in the top ,in most anxious european societies,also ranks top in percentage of people that are struggling to pay the bills. The big media in our country belong to the biggest corporations,that consist of ship owners,oil refineries owners,construction companies owners,which corporations are getting most of the public projects.Also media are subsidized by the current government.So the only thong that is thriving is the market number,the country and its people are struggling.The rich are getting richer and the poor poorer,and sadly this is not a biased political statement,it is statistically proven.

@JohnSmith-ot7ez 5 месяцев назад

Some people look at lines going up on graphs and think the economy is doing well and people shouldn't complain, without taking into account what's life actually like for people and if this money is being kept by the richest

@mikelis1988 5 месяцев назад

I just wrote a comment above without seeing this one, that is almost copy paste. and that is sad φιλος

@howtoappearincompletely9739 5 месяцев назад

@@mikelis1988 *φίλε

@unconventionalideas5683 5 месяцев назад

The inequality problem is hardly unique to Greece, though. Most countries have had this problem to greater or lesser extents.

@dailydoseofnews4828 5 месяцев назад

Yes, the EU more focused on helping ppl outside the EU than inside to virtue signal to their friends. Meanwhile politicians and owners of industry get rich and fat

@todmart8930 5 месяцев назад

Please, make a video for Bulgaria. We are full of stories for mafia bosses ruling the country, socialism and finally starting to develop and become a modern business oriented EU country.

@YellowCable 5 месяцев назад

Greek people are the best, and such a beautiful country

@TimL_ 5 месяцев назад

The footage shown at 13:25 is not from Greece, it is from Alberobello, a village in the region of Apoulia in Italy. I appreciate the implication of Magna Graecia, but that is not an example of Greek colonial architecture in southern Italy.

@SpartanLeonidas1821 4 месяца назад

Yes, that is not Greece for sure! 👍🏻

@LilyVale-gi3si 4 месяца назад

hmm yeah I never seen that place, good point. I have to agree though that Italy and Greece are very similar countries when it comes to architecture.

@SpartanLeonidas1821 4 месяца назад

@@LilyVale-gi3si Many Places between the two are indeed! 👍🏻

@antony74416 5 месяцев назад

The reality is completely opposite. The quarantine of Covid19 lead to the closing down of many small shops. Inflation is increasing every day while the wages remain stagnant. It's very hard to find a stable job and even then the conditions are horrible and no rights are guaranteed. Taxes are insanely high and every miniscule ((growth)) of GDP goes to the pockets of corrupt politicians and their associates. The economic bubble burst in 2008 and we still haven't recovered. We have merely accepted our demise.

@bk-xv7er 5 месяцев назад

Could you do a video about Czechia? I think it would be very interesting to talk about as this year was very.. interesting for the Czech economy

@sadatislamkhan3707 5 месяцев назад

Ah Czech Republic is a good country.

@deepseadarew6012 5 месяцев назад

What happened to the Czech economy this year?

@Loading-lg6hs 5 месяцев назад

^@@deepseadarew6012

@leoprg5330 4 месяца назад

@@deepseadarew6012we have the slowest economic recovery after COVID in whole EU, even after Spain. Inflation was one of the highest on levels above Hungary and the Baltics. Even now Czech economy is still not in it's levels from 2019.

@bk-xv7er 3 месяца назад

@@leoprg5330 depends on your sources but basically yea. Inflation wise it is complicated

@omarmyia 5 месяцев назад

Despite not having a particularly great P&L in the 2020s, Greece still has its amazing BS and that is why it will always be a great economy regardless of how badly it is ran. Please do a video o Romania as well!

@zhshsG7 4 месяца назад

What do those mean? The P&L and the BS?

@ppolianidis1 4 месяца назад

@@zhshsG7 Profit & Loss, Balance sheet

@tiusernamenabalw 5 месяцев назад

As a Greek going back to my country 2-3 times a year it is easy to spot the improvements, even though people living there full time cannot spot them so easily. Yeah, infrastructure is not where it was when it was brand new (and built on loans), but the foundations for the future are stronger now than when we were rich.

@chat-1978 5 месяцев назад

Arguably, the foundations were stronger when we were rich compared to before when we were also poor. I think the infrastructure has in general improved but the manning and the quality of many services is actually worse. You can see and feel poorness and wealth around you much more than in the past. I go there usually once per year, and once every couple of years to athens which is really bad in my opinion. Finally the countryside is benefiting.

@keepitflowyartem3973 5 месяцев назад

Thanks for pointing out the improvements we clearly can't see by living in Greece every day. Thank god we have highly educated and enlightened expats to point them out. Those huge investments on public transport and trains are surely showing.

@ecodes8498 5 месяцев назад

You are so right!!! Thanks to our Goverment, which continues to sell off public infrastructure and sectors built with Greek taxes. Now we get to revel in the joys of skyrocketing energy prices, pay premium inflated prices for every conceivable product, and allow corporations to skirt responsibility for any passenger their railway system has the misfortune of killing. I eagerly await your return to bask in these forthcoming prosperous times with us!

@tiusernamenabalw 5 месяцев назад

😂 We may have different perspectives (and I will stick with mine, as an "outside-in", less biased view) but I must admit you are funny 😂. Thank you for the productive interaction and healthy opinion exchange. Greece is not as unique of a case, once you see it from the outside. I know things look different when you are there; I have been there (maybe more years than you) and the fact that I see progress does not mean I would go back any time soon...

@tiusernamenabalw 5 месяцев назад

@@keepitflowyartem3973 No disagreement there about trains and other populist "καραμελες". I do appreciate your (internet anonymity-enhanced) humour and I do understand that growth under a hard climate tends to leave many people behind (maybe even the majority, though the ones benefiting are not as vocal). The question is what is anyone doing in order to not be one of the ones left behind. I am personally exposed to many professions in Greece that have serious shortages of skilled employees, but we still produce irrelevant degrees in our universities. If you have access to the market I guess you should know that, without a need of any "expat enlightenment".

@antonios111 5 месяцев назад

It’s really hard to say, what is actually going on in Greece. As a Greek, living abroad, it pains me to come back every year and see the poverty, the exhausted look on people’s faces, listen to the burden and strain they are under, but have the government constantly throw out propaganda, about how well Greece is going. It’s not the reality on the ground, after volunteering at a soup kitchen this past summer, the sheer amount of people, is mind boggling and truly inconceivable. Whilst tourism is definitely increasing each year, inflation is still a problem, the lack of any real social programs to tackle the issues a lot of everyday Greeks are facing, high rents, low wages with minimal wage increases and high taxes on payroll, is frustrating and ever persistent. The current government, has zero empathy for the common people.

@amh31 5 месяцев назад

Another factor that has to he faced is Greece owes the world so much money that while they're doing well economically. It's going to be a very long time before the people see it. Greece took almost a quarter trillion in bailout from EU and IMF. That needs to be paid back before the citizens will actually see the fruit of their labors.

@antonios111 5 месяцев назад

@@amh31 So the loan to the IMF has been paid back, earlier than was required, as no country wants to have an IMF debt, unless they’re desperate. The EU debt, wont really be a big issue, as many leeway’s will and have been given to Greece, as the EU can’t afford for Greece to fall again. The economy is doing well, if you look at tourism, in the future so long as the transition to renewables goes as smooth as the government would like, could be a viable money maker for Greece, but again, I don’t think it will explode in Euros any time soon.

@rodrigo445678 4 месяца назад

The problem is precisely the mentality that governments should do everything. That’s the ideology that led to Greece’s crisis. People have to be auto sufficient and that’s impossible when government overreach.

@antonios111 4 месяца назад

@@rodrigo445678 Totally agree. Greeks were far too lazy, when it came to the country’s affairs as a whole, far too patriotic to think anything was wrong, until all the benefits, pensions, subsidies were scraped and taxes on anything and everything, were increased and implemented.

@danirezaeva3934 4 месяца назад

@@rodrigo445678 In the current conditions of Greece, I agree. But the whole point of a government is to manage civil service and to be a social security provider once people fall into hard times. The real problem is that we aren't bringing competent people who will do their job in government. Not that people are "too lazy". Greeks are the hardest working people in Europe, clocking the most working hours in the continent, and providing a lifeline to a mainly service-based economy, among others. The problem is Mitsotakis and it's predecessors are exploiting these hard workers (as you can see with his new law on working hours) but also prolonging austerity to refuse civil services and social security. What this means is Mitsotakis (and probably those who succeed him) is that he is forcing Greece to turn into a western-style economy without the western-style social and civil services, and this is a dangerous situation.

@andyklapper8484 5 месяцев назад

Way to go Poros! My father-in-law was from Poros and we go every year to enjoy that wonderful little island and visit relatives. But, Poros isn't one of the big "named" islands and very few people in America (nobody really) has even heard of the place. So image my surprise when at the 35 second mark (and 1:37, 3:58, 7:55 marks) you, briefly, showed our little slice of paradise! You made my (and my wife's) day! Does anybody on your staff visit Poros regularly? [Poros, btw, is about an hour by hydrofoil from Athens and is better known as a place that people from Athens go to for a weekend then as a place for foreigners, though we do get a lot of foreigners taking yachting vacations. In fact, we call it, informally, the island of yachts.]

@davidsiewert8649 5 месяцев назад

creative accounting -> got Greece in the eu creative accounting -> got Greece not to look bad in 2023

@ommanipadmehung3014 4 месяца назад

simple theories for simple minds

@ilhamrj2599 4 месяца назад

Those creativities also what brought them down during Global financial crisis forcing them to beg money from EU.😂

@peterfireflylund 4 месяца назад

Eurozone, not EU.

@yannisstamoulis4266 4 месяца назад

Its easy to hate whilst saying something in lines of logic and sense due to these past issues. Maybe pick up an economics book or even behavioral economics and understand that situations and expecations change over time. Its people like you who hate and dont support and economy that, in other sense, can influence indireclty or even direclty your own country. That is the one of the main points of the EU, avoid asymmetric shocks with policy and economic coordination to reduce spillovers due to monetary integration. At the end of the day, irrelevant people like you are the ones inflowing our tourism because we have such a rich country, uncomparable to any. See you in santorini this summer ;).

@papertoyss 4 месяца назад

Actually, claiming that _'creative accounting -> got Greece not to look bad in 2023'_ only highlights your deep (sorry, cant find another word) ignorance on this issue.

@manfredmaniek 5 месяцев назад

13:23 ah yes, Alberobello, the famous Greek town :P

@97Corvi 5 месяцев назад

I was thinking that It looked a lot like Puglia XD

@7RiversDeep 2 месяца назад

We all did!!! In a country with countless beauty villages and islands the editor chose a famous italian spot!! Tragic!!!😂😂

@TrueSonOfSkyrim 2 месяца назад

honestly says a lot about the seriousness of this video , as a Greek nothing has gotten better here apart from our iced coffee varieties which I think are among the best in the world.

@carloscampo9119 5 месяцев назад

It seems very wrong to put Greece, 10 years after an austerity program and just receiving a good economic score recently from credit agencies, only 0.6 points above Argentina, a country in hyperinflation and debt crisis just starting their economic correction. Completely wrong. Maybe it’s time to re weight these rankings against each other.

@mosaloquendo 5 месяцев назад

aguante argentina pedazo de boludo

@xiphoid2011 5 месяцев назад

I skipped greece during my undergrad backpacking through europe summer trip. I really wish I had the time and money. Here to hope that they will still be beautiful (but also stable) when I get another chance.

@SpartanLeonidas1821 4 месяца назад

You missed out big time!

@vasilisdx1 4 месяца назад

it is one of the more stable countries.that is the problem from the video tha i mentioned in my post

@tomkadin 4 месяца назад

I live in greece and people say that things are improving......I am shocked that they are saying this. Rents are crazy high, Electric bills went to ridiculous levels because of "the war" and other bullshit reasons whilst power companies had record level profits and the super market prices are exploding I went to denmark and germany and the prices there where about the same. Its becoming unsustainable. All these years in greece I have never felt so uncertain and unsafe and I am considering to escape to another country and I read comments like ohhh its improving....WHAT?

@nihil_hd1598 4 месяца назад

The Rest of Europe isnt doing that wel eitehr

@---nt5mb 5 месяцев назад

I love the ingenuity and yet simplicity of this project!

@captaingreek 4 месяца назад

When you go downwards for ten years, then you need more than ten years to climb back, because the fall is faster and easier...

@ikotsus2448 5 месяцев назад

"How it has influenced the modern economic landscape in more ways that even the country itself has probably realised" Yes we are dumb like that 😂 Just to clarify, the generous benefits were not toward unemployed or other people in need, but inflated pensions to already over privileged pensioners.

@thePeterandByron 5 месяцев назад

Sure doesn't look like it if you're actually living there.

@mrdraw2087 5 месяцев назад

I remember these news headlines back in 2015 about how badly Greece was doing financially. Then suddenly it was no longer news-worthy and I didn't hear much about it, so I was wondering if the problems had been solved. Good to hear they are doing alright now.

@skoy21 5 месяцев назад

Well, we are not. There is a huge gap between economic graphs and everyday life...

@ColmanRetro 5 месяцев назад

@@skoy21Compared to what and when? Genuinely curious as an American with no personal experience in the area.

@ArawnOfAnnwn 5 месяцев назад

@@ColmanRetro Compared to the early 2000s Greece. The Greek economy is more secure now, but its people are no richer. Actually poorer if you factor in inflation. Even the economy is just about catching up to where it was 15 years ago.

@billm3210 5 месяцев назад

Well 15 yrs under IMF and EU supervision is horrific. The people are stubborn in a good way. Its the few and elites with govnt bringing them down for so long. They survived cause of a strong sense of family and patriotic unit. It has improved a lot but under great suffering to a lot of people in terms of happiness and loss generation. If you have money there not a lot say US 70k a yr you live a really good life. Those there renting and cant save suffering still. But this now is felt everywhere even here in Canada. Asset rich cash, poor as the saying goes.

@antony74416 5 месяцев назад

news stopped caring to report. The shareholders got their revenge on us and now we are left to rot

@andrewmetz9267 5 месяцев назад

Liberty ships also transported the majority of anything across the Atlantic as well, not just the Pacific.

@micdhack 5 месяцев назад

Tis funny that the video highlights that Greece's development boom was in part the cause for the depression, yet fails to see that this is still happening today. Most development is building properties for foreign investors today.

@coco_maroco 5 месяцев назад

I'm pretty sure it's actually benefitting the country now though. See Ellinikon project,

@Gamaouat 4 месяца назад

@@coco_maroco Doesnt benefit sht, greece is still anti business and follow leftist policies

@e.n.akasha9516 4 месяца назад

@@coco_maroco the ellinikon project has caused havoc, not positive at all..ask locals

@spanzyr 4 месяца назад

As a greek living in serres (2nd largest city in Macedonia) here the economy is going super well idk about other places but it's great here

@FullSpectra 3 месяца назад

The unemployment rate is absurdly high in Serres and it bleeds its workforce to other regions in Greece and worldwide

@spanzyr 3 месяца назад

@FullSpectra ik but where I live most people are okay

@H808Beats 3 месяца назад

Οπου και να πας στην Ελλαδα βασικο θα παρεις (700 ευρω) θες να μου πεις οτι στις σερρες το κοστος ζωης (ρευμα νερο τηλεφωνο ενοικιο βενζινη σουπερμαρκετ διασκεδαση) ειναι κατω απο 700 ευρω?

@simonevitiello1448 4 месяца назад

min. 13:24: it's Alberobello in Italy. Not Greece (which has many beautiful towns and islands to show off).

@harukrentz435 4 месяца назад

Greece needs to ditch the euro. There's no reason why Greece's products should be as expensive as German's or France's.

@kingofthend 4 месяца назад

If they did it 10 years ago I would agree but why now? The economy is doing well, why change a running system?

@user-sf4ps3si7m 4 месяца назад

as a greek i agree with you. The Greeks should have thrown away the euro many years ago and had our own currency. I hate europe and its currency, they have done nothing but harm to Greece. And they always belittle us and mock us, I'm sick of them.

@gregorygiakoumidis7149 3 месяца назад

😂😂😂

@lipingrahman6648 5 месяцев назад

I have a question, do you think it would be a good idea to catalog types of development according to the continuous return on investment. Because as you demonstrated building houses looks good on paper but once built it’s not all that important anymore. But let’s say building a factory has a continuous return on investment.

@felipefeldman9149 5 месяцев назад

What you are describing is the difference between productive and non productive assets!

@iuliandoroftei5088 5 месяцев назад

The debt chart should have had Bn instead of M on the Y axis.

@christopherellis2663 5 месяцев назад

Milliard

@stickygrenade99 4 месяца назад

I love your videos, very educational and entertaining. Do you have any plans to put Thailand on your leaderboard? I really want to hear your opinion on the country, there’s not that many videos about the country’s economy. Thanks and keep up the good work!

@toey488 4 месяца назад

0:33 I live like an hour away from this place great seeing places I been to on videos

@unpopuIaropinion 5 месяцев назад

As someone who lives in Greece, I can confirm that the PEOPLE of Greece are doing worse than ever. We have some of the most expensive : supermarket prices, fuel prices and pretty much everything is super expensive (compared to the EU), and very high taxes, while at the same time the wages are terrible. We have north europe (or worse) prices while we have African wages. So yea Greece, as in its people, are not doing really well. Our rich politicians are definitely doing really well though.

@bellosjt 4 месяца назад

Where is Tsipras my friend?Stop crying and see the disaster of left wing wretches...hehehe

@gmeachim3270 4 месяца назад

As someone who has read through most of the comment section I have learned that whenever someone starts their comment with "as a Greek" or "as someone who lives in Greece", I know that they are going to say the most predictable thing while bitching and whining. "The rich are getting richer and the poor poorer", "the rich politicians" etc etc. No one buys your drama story anymore. A) The average idiot in Greece doesn't know the first thing about economics and B) the average Greek always likes to complain about how bad things are when Greece is richer than the world average and children in other countries are LITERALLY starving to death. Shut up, get a job and pay your taxes.

@scottie771 4 месяца назад

Employment rates don't mean much when most of the workers work seasonally or part time with wages that aren't sufficient to sustain them, it's just a fiscal trick for the government to look good on paper. Poverty in Greece has skyrocketed, almost 80% of the population has difficulty in covering for basic needs (food, home, electricity) and barely get by, while food and energy costs are increasing at a pace that the economy and people can't follow, leading most people to burn through their savings (the only country in the EU with negative savings growth in 2023) or leave the country in order to seek work in other EU countries with better working and living standards. Most of the investments being done are building housing and selling it to foreigners and tourists (not sustainable growth as mentioned in the video) and what accounts for economic growth in numbers, is mostly large multinational companies that have taken control of key sectors of the economy (energy, food, transport, telecommunications, construction) and created monopolies or cartels and are preying on the poor since there is no government supervision or laws about free competition and price fixing.

@DionEccles 5 месяцев назад

Watching from Trinidad and Tobago! 🇹🇹🇹🇹🇹🇹 Can't wait to see one on us someday.

@8DarkRock 5 месяцев назад

Great work as always, please review Portugal on the next videos.

@ericponce8740 5 месяцев назад

I love Greek food and culture, and the islands as well. One big mistake was for Greece to host the Summer Olympics in 2004. Billions of dollars were spent on facilities for a two-week event. After the Games were over, facilities were left to decay. The money spent could have been spent on infrastructure for the country.

@andrewdimarogonas8198 4 месяца назад

Obviously most of it was a waste but of some did go to fairly useful infrastructure. The Athens metro remains one of the best functioning and cleanest infrastructure in the entire country.

@alexrenn2479 4 месяца назад

That's not entirely true, many of the Olympic sites have been or are now being redeveloped. Also, Olympics were great for infrastructure development in Greece, like metro and highways. Still, a lot needs to be done.

@dkaloger5720 5 месяцев назад

Hi from Greece .

@nicolaijensenbak1971 5 месяцев назад

I would love to see a video about Denmark and its big emerging medicine industry

@TimothyCHenderson 4 месяца назад

Great to see that Griice is doing much better now!

@SpartanLeonidas1821 4 месяца назад

Greece*

@D_Winds 5 месяцев назад

Greece doing really well....0 score on Growth. Curious.

@jah211084 4 месяца назад

If memory serves me, Greek shipping has special considerations within their constitution as well, making the industry particularly enticing

@Oxymoron666 3 месяца назад

It is actually a taxfree zone for greek ship owners. Exactly as you wrote it mate, with special consideration in our constitution.

@jackyd2001 5 месяцев назад

@economics explained Would love to see your take about Portugal

@marcinooooo 5 месяцев назад

Where can I check full leaderboard of countires presented in the end?

@rockystaatz521 4 месяца назад

I stopped paying attention to Greece around 2013 and haven’t looked back even with the shipping potential but they almost invented the swap in shipping

@antonios.k 5 месяцев назад

@EconomicsExplained Very good video! Sounds spots on to me. It would be interesting to do Lithuania next. I'm a Greek and I have lived in Lithuania for a while. it's very interesting to see the opposing trajectories those two countries had. And the baltic countries seem to have moved a bit more cleverly than the south european ones. I'd love to see an EE video on Lithuania. Either way, love your videos 👍

@vaticinus 5 месяцев назад

Does anyone know what software or website can be used to create the kind of illustrations used in this video? Thanks a lot in advance.

@divertedpreon6312 3 месяца назад

Sophistry is a huge threat. This video is an example of it.

@user-gh2bn7yt8y 5 месяцев назад

Hats off for Greece to recover from such severe stagnation

@SEN.Dnudes 5 месяцев назад

this video had everything about Greece except "Why Greece Is Suddenly Doing Really Well".

@minuswachoke2925 4 месяца назад

yeah it left me confuse, whether most of the comments here are from people that dont even watch the video or not

@SEN.Dnudes 4 месяца назад

Update: EE changed the title to "Is Greece's Economic Nightmare Finally Over?"

@SEN.Dnudes 4 месяца назад

idk y they keep on changing the video title. Thats y I find it diffucult to search for old EE videos.

@LilyVale-gi3si 4 месяца назад

@@minuswachoke2925 maybe you didn't watch the video as well but his point was that despite the economic crisis in the recent past the country is having a growth albeit a slow one

@e.n.akasha9516 4 месяца назад

It's owned by China and Israel.. that's why...

@palikariena7292 5 месяцев назад

Very good video. On shipping, Piraeus is full of the offices of the shipping companies and the officers of the ships are mostly (and in many cases completely) Greek, graduating from then Greek academies. Everyone in Greece knows many people who works in the shipping industry and it’s one of the known good career paths for Greece

@birdakasiakwvos 4 месяца назад

Ποσοι δουλευουν στα καραβια? ...πανω απο 20000 αποκλειεται, και συνεχως ο αριθμος μειωνεται! Οι θεσεις στο συνολο μειωνονται επειδη πλεον οι θεσεις ειναι ελαχιστες για Ελληνες στα φορτηγα πλοια (bulk carriers), απλα ανοιξαν πιο πολλες θεσεις για LNG. Στο συνολο ο αριθμος ειναι μειουμενος, και οι αποφοιτοι ολο και περισσοτεροι, τωρα και με την ιδιωτικη σχολη στον Πειραια

@Seedmember 4 месяца назад

It's funny how in almost every video talking about the Greek economic crisis, nobody mentions the failed austerity measures that were enforced by the IMF, which devastated any potential for growth in the country for more than a decade, while also being a huge scum by the IMF to buy a huge percentage of the Greek debt at a lower price from private investors. The country f'd itself with its economic policies, but was also taken huge advantage off. In the end, certain people made a whole lot of money, while the general populace suffered, and the Greek identity was slandered.

@boozebeard9501 4 месяца назад

Would be super interested in seeing a video on Malta.

@wv9529 5 месяцев назад

As a greek who experienced this i agree that there were problems on the revenue side and that there was a lot of malinvestment. But the biggest problem by far was the crazy large public sector which offered nothing and is still unbelievably burdensome. There was huge amounts of corruption in which the state made everything more dysfunctional in order to make itself more powerful since everybody was one way or another operating illegally and thus relied on the political class to support or not persecute him. The sucess of shipowners should be viewed in a different light, basically the ability of greek to suceed and build great businesses as long as the greek government cant reach them.

@chat-1978 5 месяцев назад

We are not the only country with a big public sector. And others don't have issues. The important factor is what you do with it. And we had it doing nothing.

@ryankwan1934 5 месяцев назад

...but the shipping magnates don't contribute much in the way of taxes, don't employ Greek crews and are operated outside of Greece...

@keepitflowyartem3973 5 месяцев назад

Yea bro it's that fat public sector, the root of the problem as always. Don't forget to lick the boots of ship magnates, they might drop you a dime for being such a good bootlicker.

@sophiewanlin8612 5 месяцев назад

In my country, French here, we have a more significant public sector. Being a civil servant is not the problem. Speaking of corruption, we do better than Greece, but it depends on where: try doing business in Nice, which looks like Italy / Greece, about that problem. Στη Γαλλία έχουμε τα ίδια πρόβλημα με κάποιες τεράστιες εταιρείες που πληρώνουν πολύ λίγους φόρους σε σύγκριση με το όφελός τους. Σκέφτομαι την Τοταλ πχ.

@UNr34 5 месяцев назад

@@sophiewanlin8612 China and Scandinavian countries also have a huge public sector and it works for them. I agree public sector is not the problem, but for Greece it is because Greeks are too individualistic and so the public sector always ends up corrupt and losing money. I think Greece should privatize as much as it can because that's what suits the Greek mindset and culture better.

@Alex-fm5ke 5 месяцев назад

Can you do a video on what the U.K. needs to do to increase productivity and reduce inequality

@RayPerkins01 5 месяцев назад

Slash regulation. Regulation favors the big guys (they usually have a hand in writing the rules).

@abstract5249 5 месяцев назад

@@RayPerkins01 And you don't think they'd have a hand in slashing it?

@glorious_help 5 месяцев назад

9:52 that's Ermioni and it's the village close to me hahaha

@W1ck3d78 4 месяца назад

Would love to see a video on Belgium as this country at the heart of Europe is facing economich challenges but politicians are in no way trying to fix these issues leading to giant debts, ...

@chrisw8011 5 месяцев назад

Greece runs their economy like Homer writes a poem: full of contradictions, antiheros, and without any proper resolution

@Ffourteen 5 месяцев назад

I've never heard Greece described as an "otherwise unassuming country." I've heard it called the birthplace of Western Civilization. I've heard people discuss how its influence in the Mediterranean dates back to the Bronze Age. But unassuming? I can't say I have heard that before.

@me0101001000 5 месяцев назад

Greece today is a pretty forgettable country. As rich as its history is, it doesn't have much going for it otherwise. I hope that changes, and based on the video, it seems things are slowly but surely looking up.

@georgel760 5 месяцев назад

lol

@jimmym3352 5 месяцев назад

@@me0101001000 This. I have been to Greece when I was in the military, but other than tourism and history, Greece just isn't a power economically or politically. They are pretty forgettable.

@thomasjohnson2862 5 месяцев назад

@@jimmym3352I mean I get what you guys are saying, but when it comes to Greece, you don’t say stuff like that about Greece, that it’s forgettable given what they’ve given us

@LilyVale-gi3si 4 месяца назад

@@me0101001000 yes we all know that the whole world is influenced by super corrupt countries like USA,China & Russia everyone else for them are irrelevant I guess.... 🤷‍♀

@koulourakia3421 3 месяца назад

It may seems like it in paper , but as a Greek let me assure you nothing changed. Wages are way lower than it should but the basic needs costs are increasing day by day , making the wage/cost of living rate a lot worse.

@captaindivad5062 4 месяца назад

Is the graph correct at 4.18 because it says Greece has around 4500 ships and China 6000 but Greece is more

@papertoyss 4 месяца назад

The Economist's country of the year for 2023: Greece _'...after years of painful restructuring, Greece topped our annual ranking of rich-world economies in 2023.'_ Note also that the pandemic didnt just _blessed_ the Greek economy. This was done by design, hard efforts were made for Greece to deal with the pandemic best way possible, and it largely managed to do exactly this. This gave a headstart to the economy which led directly to the Economist's title above.

@KnowArt 5 месяцев назад

I surely hope that their recovery will translate into growth. But to be honest, I've become pretty pessimistic when it comes to growth in the EU

@alestra1021 4 месяца назад

13:27 I think these are the Trulli, which are located in Italy :D

@uriabinenshtok 5 месяцев назад

can you explain the seven major currencies, why like the New Zealand dollar is there even though the country is not that big in terms of GDP, please

@tsepzz4742 5 месяцев назад

Many people claim that Greece's economy is going down the drain still. However, as a Greek I can say with absolute certainty that things are improving , although slowly.

@hephestos300 4 месяца назад

Πού;

@Caelumization 3 месяца назад

Are you serious right?

@konstantpapas1583 5 месяцев назад

'Doing really well' by some nominal metrics for sure, but the real economy is in serious trouble.

@Davide1709 5 месяцев назад

13:24 that's Alberobello, in Italy. Not Greece :))

@Murithium9 5 месяцев назад

Kindly also do an analysis of the economy of Kenya.

@Bromoteknada 5 месяцев назад

I am Greek and before I watch I want to say that if this actually says that we are doing well, then you know this video is 100% bs 😂 *also note that even when we were bankrupt we were not starving or anything (as the rest of the world might think). Now we are worse since the cost of living has risen way more than income (the real income now is less than when it was when we were bankrupt).

@tomkadin 4 месяца назад

Totaly agree its going down pretty fast.I was never afraid in the crisis now in the next year i dont know If I will be able to pay rent or feed myself

@gmeachim3270 4 месяца назад

It takes time for an economy that has suffered such a blow as the Greek one has to stabilise. The cost of living has gone up everywhere in Europe. Kristine Lagarde said recently that EU citizens should forget pre-pandemic living standards. Housing, food and petrol prices are going up as well because of the inflation which is natural when you have growth after so many years in recession. One thing I don't understand is why so few people like you in Greece struggle to see the bigger picture and just drown in their little puddle of misery and pessimism. There are no easy ways or miracles to fix a situation like the Greek one. It will take time and a lot of work from everyone. The world doesn't owe anything to Greeks. They have to work hard and prove they deserve the living standards they keep comparing themselves with.

@Bromoteknada 4 месяца назад

@@gmeachim3270 misery? Work hard? "Such a blow"? What kind of irrelevant & nonsense points are these? I myself said that we never lived in "poverty", nor we do now. But things did not "get better" as the video claims, this is why it is 100% bs. End of story and no need for disagreements because we know better, since we live here. We never suffered any huge blow actually. If you think so, you may be dumb for believing your country's news while the reality is different. Not my fault. It is quite simple my little fella : I said that if this video claims that we are better now than we were before, it is simply not true because the average income remained the same while the prices increased. And if this case holds for other countries as well, it doesn't change the fact I mentioned.

@plasmacannon1198 5 месяцев назад

Would be interested in seeing the associated risk with Novo Nordisk poses to the danish economy, should it become too reliant

@peterfireflylund 4 месяца назад

Finland survived Nokia’s downfall. I think we’ll be ok.

@zero357none 4 месяца назад

AlberoBello is in neighbouring Italy - one of the clips used is of that

@nikpist1030 4 месяца назад

Thanks for this informative video. The feeling here in Greece is that something is really positively changing for the first time in many years, albeit in a slow pace and not evenly distributed to the whole of society.

@konstantinosanastasiou7576 5 месяцев назад

I appreciate your videos, but I believe this one contains some very crucial omissions and inaccuracies. While the analysis is mostly correct until the 90s, it falls apart after that. There was indeed rapid growth but not a triplication (!) of the GDP per capita in a few years, so that data is really off. And most importantly, blaming the financial woes on a housing bubble (at least this is what I get from the video) is incorrect, it played a rather small role, nothing to do with the crises in the US or Spain. It was almost exclusively tied to the massive account deficits that the state was running, simply overspending, mostly for a large inefficient public sector and a generous (for the country's finances) pension system. Year after year, but especially during the 00's. Public deficit and unsustainable debt is written all over the problem , I wonder how the housing/infrastructure theory came up. As a matter of fact, the country gets and used to get too little foreign investment. And investment in infrastructure, albeit increasing, is lacking as well.

@ayoCC 5 месяцев назад

wishing well for greek standard of living to catch up

@teodorkolev4931 4 месяца назад

@EconomicsExplained Can you do one on Bulgaria please?

@adrianioanvereha8949 4 месяца назад

Interesting video. Can you please do Romania next? Would love to know more.

@kikkimora 5 месяцев назад

Have you actually been there before saying this? Athens is far gone, a huge unsafe ghetto, rents higher than salaries and locals are leaving every day.

@deltalabmodhl2 5 месяцев назад

The quality and accuracy of EE videos has been on a steady decline for a while now. What a shame.

@johnnytifosi 5 месяцев назад

Yeap the channel has been pure garbage for a while now.

@avencolonial 5 месяцев назад

I stopped watching after he posted his video questioning "Do we actually want affordable homes." Mf the answer is yes. There is no if ands or buts about it. We want to afford a home after college, not be forced to live with our parents until our mid 40s because our measly $50k/yr can't purchase a $500k house.