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» »Unlabelled » Greece sees rise in homeless rate

Tue Nov 29, 2011 7:19PM GMT
A homeless person in Athens. (File photo)

Greece is faced with a growing homeless rate as the new interim government of Lucas Papademos continues to struggle with the country's economic crisis.

Since the 2008 onset of the economic crisis in Greece, about 20,000 people have become homeless, the Associated Press reported.

The developments come as the country's public sector has also been witnessing harsh budget cuts.

Over the past few years, the non-governmental organization of Klimaka's homeless shelter located in central Athens has been handling the increasing number of homeless people.

Klimaka workers say the great majority of those who have become homeless since 2008 are educated and belong to the society's middle class.

Since May 2010, Greece's economic crisis has caused sweeping turmoil across the country, forcing the government of former Prime Minister George Papandreou to resign.

Athens must persuade both the EU and the IMF that it is making sufficient financial reforms, otherwise, it will not receive the next USD 11 billion portion of its bail-out loans; it is estimated the government will go bankrupt within weeks.

Greece's public debt equals some 162 percent of its gross domestic product; if it fails to obtain international support, the country will run out of money and default on its debts within weeks.

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