Gross disposable incomes fell 29.5 percent between the second quarters of 2008 and 2013, the ELSTAT statistics service said on Tuesday in a report. Adding in cumulative consumer price inflation over the same period takes the decline close to 40 percent.
Workers' compensation has fallen 34 percent since the second quarter of 2009, according to the ELSTAT report. The government, under strict pressure to reduce the ballooning budget deficit, has cut social benefits by 26 percent.
Stability has not returned to Greece, an economic recovery has been slow, if not elusive. The IMF estimates the Greek economy will contract 4 percent in 2013 before showing signs of recovery in 2014 .... http://rt.com/business
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