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Greeks Need To Start Having Babies Again Or Face Financial Oblivion
04-21-2017, 05:30 AM,
#1
Greeks Need To Start Having Babies Again Or Face Financial Oblivion
Greeks Need To Start Having Babies Again Or Face Financial Oblivion

<p><a href="https://www.indy100.com/article/greece-financial-crisis-low-fertility-rate-pension-problems-7687056"><em>Authored by Narjas Zatat via Indy100.com,</em></a></p>
<p><strong>People in Greece can&rsquo;t afford to have more than one child, and many are opting to have none at all.</strong></p>
<p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/04/21/20170420_greek2.jpg"><strong><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/04/21/20170420_greek2_0.jpg" style="width: 600px; height: 285px;" /></strong></a></p>
<p>Fertility doctor Minas Mastrominas tells the <a href="https://www.nytimes.com/2017/04/16/business/fewer-children-in-greece-may-add-to-its-financial-crisis.html?_r=0" target="_blank"><em>New York Times</em></a> that some women have decided not to conceive, and single-child parents have been asking him to destroy their remaining embryos.</p>
<p>He said:</p>
<blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong><em>After eight years of economic stagnation, they&rsquo;re giving up on their dreams.</em></strong></p>
</blockquote>
<p>It isn&rsquo;t just Greece suffering low birth rates. In fact the trend spreads to most of Europe, with Spain, Portugal and Italy also reporting <a href="https://www.indy100.com/article/map-europe-fertility-worrying-sign-future-immigration-replacement-rate-7669836" target="_blank">dangerously low</a>&nbsp;rates.</p>
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<div class="image"><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/04/21/20170420_greek1.jpg"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/04/21/20170420_greek1.jpg" style="width: 600px; height: 600px;" /></a></div>
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<div class="dnd-caption-wrapper"><em>(Picture: <span class="scayt-misspell-word">Jakub</span> Marian)</em></div>
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<p>&nbsp;</p>
<h2><u><strong>Why is this happening?</strong></u></h2>
<p><strong>Unemployment continues to be a serious issue in Greece.</strong> Rates are slightly lower than in 2016 when they were 23.9 per cent, but are&nbsp;<a href="http://www.tradingeconomics.com/greece/unemployment-rate" target="_blank">still very high</a> at 23.5 per cent.</p>
<p>The slump has affected women more, with unemployment rates at 27 per cent compared to 20 per cent of men.</p>
<p>Child tax breaks and subsidies for large families have decreased, and the country stands at having to lowest budget in the EU for family and child benefits.</p>
<p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/04/21/20170420_greek.jpg"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/04/21/20170420_greek_0.jpg" style="width: 600px; height: 307px;" /></a></p>
<h2>&nbsp;</h2>
<h2><u><strong>Women in&nbsp;the workforce.</strong></u></h2>
<p><strong>During the height of the crisis, women postponed childbirth in favour of working. </strong>As the years dragged on, the rate of fertility decreased, making it biologically more difficult to conceive.</p>
<p>Additionally, gender equality came to a standstill, and many women of &lsquo;childbearing age&rsquo; were denied employment, or had their contract changed to part time involuntarily, as soon as they got pregnant.&nbsp;</p>
<h2><u><strong>What is the impact of low birth rates?</strong></u></h2>
<p>One of the most prominent areas that will be detrimentally affected is pensions and the welfare system.&nbsp;</p>
<p>Additionally, <strong>according to Eurostat, such low birth rates &ndash; under 2.1 &ndash; could create a demographic disaster.</strong></p>
<p>This will have a knock-on effect on pensions, with fewer young people working.&nbsp;</p>
<p>Reduced pensions for grandparents, who traditionally took care of the family's children means that parents will have to reach into their dwindling budget in order to pay for child care.</p>
<p><strong>All of these circumstances provides an unwelcoming environment for having children, creating a spiralling drop in birth rates.</strong></p>
<p><em>HT <a href="https://www.nytimes.com/2017/04/16/business/fewer-children-in-greece-may-add-to-its-financial-crisis.html" rel="nofollow" target="_blank">The New York Times</a></em></p>


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