Nearly 1.1 million Greeks are unemployed, more that 1,000 people lose their jobs every day! Young people are most affected by the job losses, with more than half — 52.8 percent — of those in the 15-24 age group out of work in March, compared to 42 percent in the same month last year.
The number of employed in March 2012 was estimated at 3,843,905 people. Unemployed amounted to 1,075,081, while the economically active population stood at 3,372,144...
The number of employed people decreased by 342,134 compared to March 2011 (-8.2%) and by 24,996 compared to February 2012 (-0.6%).
According to the amendment (proposed by the Ministries of Interior and Finance), the amounts of party funding (for the last installment of 2011 and the first and second of 2012) are instantly released through the bill of "Arrangements for local development, decentralized government and administration"! In addition, the money provided through state funding can not be seized by creditors!
The funding was stopped during the last period due to outstanding obligations to the banks! PASOK and New Democracy owe around 240 million euros to the banks but that seems not to be a problem when you have the ability to make new laws...
Germany and France want to force more tightly controls on Greece's financial resources on top of that they Merkel and Sarkozy warned political leaders in Greece to immediately concur with new austerity measures in order not to witness their country go bankrupt!!
In addition, only a few days after the German suggestions to set up a finance commissioner in Greece, Sarkozy and Merkel demanded Athens to set up a separate account from which bondholders will be paid directly and will ensure that billions of euros in bailout money go directly to servicing debt, and not other government spending priorities!
"I support the idea that the necessary interest payment for the debt service is put on an extra account to make sure that Greece will steadliy make this money available," Merkel said.
The value of the gas deposits on the area 12 of the Cyprus EEZ, can exceed $ 500 billion, according to Dr.Michael Economides, professor at the Cullen College of Engineering of the American University of Houston.
As reported in the newspaper 'Citizen', if that money enter the Cypriot economy, then the incomes of the Cypriots will double and later quadrupled!
In addition, Mr. Economides states that the "area 12" contains oil, which according to estimates, reaches 3.7 billion. barrels!
According to the professor "the value of that oil is much higher that the gas! I am very surprised that nobody mentions it."
The role and the future of Greece
The important discovery of large hydrocarbon deposits on the bottom of the Cyprus EEZ sets major economic and geopolitical challenges for Greece. The large reserves of natural gas discovered in the Cypriot and Israeli EEZ, reveal that the whole arc from Cyprus to the south of Crete is very likely to contain rich hydrocarbon resources.