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Global Economy

"Like a second Nazi occupation": Bright (niche) excitement about record inflation

Great excitement in Greece – the inflation rate is approaching 10% (Eurostat estimate April: 9.4%). That hasn't been there for 30 years.

A woman in Athens:

"What can I say! Look here, I already had to take tranquilizers today. All these bills: electricity, water and the property tax are also due today. What is that? How are you supposed to get by on a salary? Who is going to pay for all of this? "People are suffering. We're suffering. The rents are out of control, a small apartment costs 400 euros. Are some authorities asking if I can afford everything? These bills? Not just me, each of us. They should be ashamed."


Manolis Balis, retired, (87):

"I owe the electric company now. We had to ask for arbitration to pay the bill."

Euronews: "You had to ask for arbitration?

"Of course, there was no other way. We've already paid 200 euros and we still have 600 euros. I'm a pensioner and my wife only has a small pension. That's a second Nazi occupation that we're experiencing there for me it's like a second crew." *


"You used to pay 50-100 euros and now you pay 150.""

Euronews: For the same things?

"For the same things. Everything is getting more expensive. We have to limit our purchases to one or two things at a time. But we can't do anything about that."

Symela Touchtidou, Euronews:

"According to a recent survey by the Institute of Retail Consumer Goods, 8 out of 10 Greek consumers look for deals and discounts to save about 10 percent on their purchases. 70 percent of consumers decide by the price tag. Since the beginning of the year they are turning to unbranded products to lower their costs."

Iasonas Haliotis, Retailer:

"Obviously, inflation affects us too. Because people find it difficult to pay rent and gas, they don't afford anything else. They save on food – of course they cut everything else too.

According to the statistics agency ELSTAT, natural gas in Greece costs more than twice as much as a year ago (April 2021-2022: + 123%), electricity almost twice as much (89%) and heating oil almost two-thirds more (+ 65%).

* Italy, Germany and Bulgaria established a harsh occupation regime in 1941. The forced export of almost the entire Greek production resulted in a positive trade balance with the German Reich of 71 million Reichsmarks, which was then offset against extreme occupation costs (renamed "construction costs" at Hitler's request). Greece had the highest per capita occupation costs of any occupied country. In order to deduct more material assets from the population, the circulation of banknotes was increased. The economic collapse was foreseeable and was accepted. The lack of food in particular led to a catastrophic famine and an infant mortality rate of 80% ("Wikipedia").

Symela Touchtidou, see below

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