As personal incomes decline, Greeks are increasingly reluctant to part with what little money they have...further curbing economic growth. The deflationary trend really kicked in in November. Consumer prices then were 3% down year on year.
Greek Prime Minister Alexis Tsipras has urged his cabinet to intensify reform efforts as the eurozone nation heads toward the conclusion of yet another bailout program. Athens insists it needs no further safety net.
Greece's parliament has voted to approve a package of reforms demanded by the country's international lenders in return for fresh bailout funds. But many Greeks turned out to protest against the measures.
Greek public transport workers have withdrawn their labor to press parliament not to proceed with an austerity bill that would limit trade unions' right to strike. Airlines also warn of cancellations and delays.
Greece's once record jobless rate of 27 percent may have dropped seven points since the start of the financial crisis, but nearly six in 10 people are stuck in a market dominated by part-time, on-and-off jobs.
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