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25 thousand jobs lost in 2009 in the Athens area

22 March 2010 / 18:03:50  GRReporter
2542 reads

Victoria Mindova

About 25 thousand people have lost their jobs last year as a result of the deepening economic crisis and reduction of turnover in the industry and commerce in the country. The lack of liquidity and tightening of the market are part of conditions many medium and large enterprises to resort to layoffs. This became clear at a press conference organized by the Commerce and Industrial Chamber of Athens Municipality, which announced the results of a statistical survey conducted in March of this year. The subject of the survey is how difficult are the economic conditions in the country and how they have affected the company's activities the capital. Even more worrying are the forecasts for 2010, of which 43 percent of respondents say that businesses will probably have to resort to additional layoffs in order not to bankrupt. Almost the same number of companies say that there is great danger in the next twelve months to even announce liquidation, unless the market situation changes. 

The study includes 40 000 thousand enterprises that operate in the Athens area. 85% of those companies say that the economic crisis is acutely affecting their business. For the last year one-third reduction in turnover reported business in the area of manufacturing, marketing and printing services. Seven out of ten respondents say they have difficulties to repay on time their obligations to suppliers and customers. About 40% of respondents, owners of small companies and businesses, say they cannot pay salaries on time. About one third of participants in the study said firmly that in the next six months they will need additional crediting and almost everyone in this group are willing to withdraw loans with high interest rates offered on the banking market. 

Estimates of businessmen from Athenian region for the return of positive economic growth in the country are particularly pessimistic. Almost half of respondents say they expect a revival of the market at the earliest after five years.

Tags: Economy Greece layoffs unemployment
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