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Prospect of Economic Recovery

Greece's Public Sector: Out of the 3.5 million individuals who are employed in Greece, approximately 1 million of them are government workers. This figure emerged as a result of a tradition of political leaders promising Greek citizens jobs in the public sector, in exchange for votes. From 1970 to 2009, employment in the public sector had inceased by 4%, while employment in the private sector had only increased by 1%. Interestingly, as Greek economist John Sfakinakis writes, for every seven employees who have been laid off in the private sector, only one has left the public sector. Seeing as the unemployment rate has increased, fewer people are left paying taxes that contribute towards the salaries of the government workers. 

When thinking about Greece's prospect of economic recovery, one must identify what can be done in order to stimulate the country's economy. First and foremost, there should be a significant decrease in the number of individuals who are employed in the public sector. Instead, there should be a shift of focus to Greece's exports, specifically through the maritime industry. The Greek-owned maritime fleet is the largest in the world, constituting 18% of the world's fleet capacity. Increasing Greece's exports can have a tremendous impact in stimulating the country's economy. That being said, Greece must return back to the basics. In other words, exporting local goods through the shipping industry can create jobs for unemployed citizens, and generate an income for workers, as well as the country as a whole. 

 

Unfortunately, as a result of Greece's unemployment rate, many people are inclined to believe that pursuing an educational career will not obtain them a secure job. For instance, 21 year old Costas Zisimatos dropped out of law school and joined the merchant-marine academy, seeing as becoming a lawyer in Greece did not seem like a promising path to follow. Instead, Costas Zisimatos is reverting to the basics and relying on the shipping industry to hire him in the future. 

It is important to realize that Greece has a very rich soil and the perfect climate that can be taken advantage of in order to grow products locally and export them. For instance, Chios is renowned for the gum that is extracted from mastic trees that grow only in southern Chios. Through mastic cultivation, farmers in Chios are capable of producing gum, mastic liquor, food, candles and soap. 

 

In the midst of Greece's debt crisis, the applications for agricultural schools, including the American Farm School in Salonika, tripled. This serves as evidence that Greek citizens are returning to the basics and are opting for careers in farming. As said by Dimitris Kaloupis, a construction worker who quit his job and became a farmer: “We invented civilization, and we’ll take it back”.

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