The European Union is an economic and political partnership made up of 28 countries from the continent. Created after World War II, the union has principles of equality, goodwill, cooperation, and general interest. A non-discriminatory union made of every race, ethnic, social and religious minority groups. Ensuring there is social and economic equality and opportunities form the base of its foundation and, therefore, it emphasizes on the socio-economic improvement of its members (European Union, 1). The union’s cohesion policy advocates for the attainment of its important goal in eradicating inequalities and poverty. In the projected plan 2014-2020, the union targets to use its funds to tackle its objected challenges which include unemployment, poverty, access to education, research and technology and environmental conservation. It also focuses in providing loans and grants to countries that are in economic turmoil. Greece as one of the union member states has been in an economic ditch for over a period of four years. Its unemployment rates are on the rise hitting a staggering 27% and so is poverty (Kitsantonis, 1). It has resulted to over120 thousand professional migrating to look for better pastures. The country was in great shambles of debt amounting to 160.5% of its economy.
While Greece is in such debt crisis and its young population overridden with increased poverty and unemployment, professional such as doctors and scientist are moving from the country to search for work elsewhere and never seem to come back. The migration affects the country's economy and GDP.
- The situation in Greece
The high debts by the Greek government characterize the country’s situation. There have been hoping that Greece would recover from the financial ditch, but the ditch gets bigger, deeper, and wider for the state and it has called for the European Union to liberate the country. In its avenue to solve the debt crisis, the government has increased taxes and the overburdened citizens are feeling the rampant economic despair (Kitsantonis, 1). However, the 15 situation has increased from 15.6 % of the GDP in 2009 to an estimated seven percent in 2012. The European Union and theIMF have not been able to resolve the situation. There has been a decrease in income and poor welfare compared to 2002. The unemployment rates are above 27%. The majority of unemployed workers come from the private sector totaling to 1.2 million and 100, 000 from the public sector.
- The Greece policy
The Greece policy of alleviating poverty, unemployment, improving the living conditions, and solving its economic equation requires collaboration from other members of the EU and her friends. The necessary directions in the realization of these goals need two approaches, that is, from within and from the outside (Calamitsis, 1). These will necessitate the arrival of strict principles and assistance from the European presidency council through the European Regional Development Fund. In the policy Greece is to work closely with Italy and pursue her goals with Lithuania and Ireland. Greece is doing all that is possible to solve its problems that are because of its debts.
- Eradicating its debt problem
The situation gets worse and often calls for a financial bailout from the EU. On March 30, 2014, The New York Times reported that the Greek parliament had voted for another call to the EU to offer the state with funding to settle its financial mishaps. This step aims at eradicating the debts and high what the Prime Minister Antonis Samaras described as,' a huge step toward the Greece of tomorrow, for young Greeks, for the Greek people.’ This bailout is worth 10 billion euros, which the government needs to pay bonds (Kitsantonis, 1). The troika of international lenders has extended bailout worth €240 billion. Other measures will include lifting competition barriers and the new charter to recapitalize her banks and distribute €527 million to her citizens.
- Expanding education opportunities
Greece education system faces challenges, as they do not align with the European Union education policies. The education system has become a primary problem, as youngest people are unemployable due to lack of relevant skills. It is contradicting that graduates think that their education puts them at a better rank in accessing employment while business people see the education system not to produce the best quality for their companies (European Union, 1). Consequently, the EU intends to highlight a new creative program to promote cultural and linguistic diversity in order to strengthen the competitiveness of Greek students. According to Androulla Vassilious, the European Commissioner for Education, Culture, Multilingualism, and Youth, the Greece education curriculum obliges urgent redress in order to enable the young acquire employment.
- Building employment opportunities
The Greek government promotes the start of individual companies. Other non-profit organizations such as Endeavor Greece support entrepreneurship. In the last year, there was a formation of over 41, 000 new companies, which specialize in food or clothing (Kitsantonis, 1). There is an increase in business incubators, which foster business ideas. Other NGOs include Orange Grove, Clio Muse, and Romantso. The NGOs has increased employment as the laid off employees are getting new employment opportunities.
- Closing remarks
The interest of the European Union and her member states in rescuing Greece from her business ditch and other social challenges require commitment and corporation. The responsibility will ensure that Greece gets back on track and solves all her unemployment, education, and debt problems. To achieve this, therefore, it does not need her own efforts but also calls for the intervention of her friend states and the European Union.
Calamitsis, Evangelos A. "An Economic Policy Agenda for the Eub under the Greek Presidency | Evangelos A. Calamitsis." The Huffington Post. 30 Oct. 2013. Web. 1 Apr. 2014.
European Union: "European commission." Vassiliou in Athens: Education and creativity are key to innovation and employment. European Commission, 19 Feb. 2014. Web. <europa.eu/rapid/press-release_IP-14-163_en.htm>.
European Union: "EU Cohesion Policy 2014-2020 | EurActiv." EurActiv | EU News & policy debates, across languages. 1 Feb. 2011. Web. 1 Apr. 2014.
Niki Kitsantonis. "The New York Times: The New York Times - Breaking News, World News & Multimedia." Greece Passes Economic Measures, Clearing the Way for Bailout Money. 30 Mar. 2014. Web. 1 Apr. 2014. <http://www.nytimes.com/2014/03/31/world/europe/greece-passes-economic-measures-clearing-the-way-for-bailout-money.html?ref=greece&_r=0>.
Niki Kitsantonis. "International Business: The New York Times: Breaking News, World News & Multimedia." With Start-Ups, Greeks Make Recovery Their Own Business. 24 Mar. 2014. Web. 1 Apr. 2014.