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IPFS News Link • Greece

Greece Is Fixed? - Bond Yields Crash To Lowest Since 2006

• zerohedge.com by Tyler Durden

Of course, this 'signal' from the bond market is being heralded as proof that the worst is over and everything is awesome in Greece again - hooray.

It's Not!

Over 40% of youth (under 25) are still unemployed, suicide rates remains extremely elevated, emigration among the smart and young is prevalent, and of course there is the immigrant crisis that Greece appears to have become the main bearer of.

As The Guardian reports, a study by the DiaNeosis thinktank found that 15% of the population, or 1,647,703 people, in 2015 earned below the extreme poverty threshold. In 2009 that number did not exceed 2.2%. The net wealth of Greek households fell by a precipitous 40% in the same period, according to the Bank of Greece. Unemployment, austerity's most pernicious effect, hovers around 22%, by far the highest in the EU, despite a 5% drop in the last two years.

Faith in government claims that the country has turned the corner – based on a massively manipulated bond market – is in short supply.

"Greeks can't see any light at the end of any tunnel," said Christodoulaki, shaking her head in disbelief. "They won't believe anything at this point until they see it for real in front of their eyes."


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