Saturday, 4 July 2009

The paradox to me about Greece - low wages and a visibly high standard of living

After 14 years of living in Greece I still have no convincing answer to the obvious paradox between comparatively low wages and a seemingly high standard of living. And yet I see myself as a fairly rational or logical individual who believes that there is an explanation for everything. I have already refered to the low average wages in Greece, even State employees like doctors, nurses are relatively underpaid in comparison to other European countries. Currently we have an economic recession and talk of doom and gloom also in Greece. Yet I fail to see it. The cafes are as full as always, hotels are mostly booked out for the summer period and the tavernas are overflowing in the sultry summer evenings. So what is the answer? The property market seems to be flourishing, OK shops seem to have started the sales earlier than usual this summer. But hardship - I can see no signs of it.

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