Greek Unemployment

This is a powerful article published today in the WSJ:

Skrekas, Nick, 2011. Greek jobless rate accelerates. The Wall Street Journal, Mar. 9.

From the article:

"ATHENS—Greece's unemployment rate continued to accelerate in December, rising to 14.8% compared with 10.2% in December 2009, the statistics service ELLSTAT said Wednesday.

The December rate is also almost a full percentage point higher than the 13.9% rate recorded in November by the revamped national statistics agency."

With this type of situation, growth in GDP and reduced financing needs appear a remote possibility. This will put even more pressure on Greek sovereign debt.

This is an amazing statistics

"Young people remain hardest hit by Greece's deepening recession, with 39% of those aged between 15 and 24 without a job in December, up from 28.9% a year earlier, the data showed."

With increasing food prices and high unemployment, can civil unrest be to far way?