Tue | Dec 12, 2017

UN labour organization sees dark picture for Greece

Published:Tuesday | November 25, 2014 | 12:00 AM

UN sees dark time ahead for Greece

GREECE, ATHENS (AP):

Greece may be exiting a cruel six-year recession, but it will take at least 20 years for employment to regain pre-crisis levels without concerted action, the United Nations’ labour organisation said.

An International Labour Organization official said a series of ILO recommendations could speed up the process by about eight years.

ILO research department head Raymond Torres outlined the proposals in a new ILO report presented in Athens yesterday. They combine emergency measures, including a 1 billion euro youth employment

program and improved commercial credit

conditions, as well as structural reforms.

Greece nearly went bankrupt in 2010 after years of profligate

public spending, and took harsh austerity measures to secure international bailouts. Unemployment is 26 per cent, with most jobless people at least a year out of work.