Tagged: Greece

Three years of spiraling economic crisis in Greece have devastated every sector of the economy. The Greek media are among the hardest hit. Many newspapers and TV outlets have closed or are on the verge, and some 4,000 journalists have lost their jobs.

Many people believe the country's news media have failed to cover the crisis — and lost credibility along the way. And many Greek journalists acknowledge that a massive conflict of interest sooner or later had to explode.

In exchange for multibillion-euro bailouts, Greece was required to sell state-owned assets. But the sweeping privatization process is behind schedule. In addition, European governments are nervous that Chinese, Russian and Arab companies are lining up to take advantage of the Greek fire sale.

Greeks are feeling the squeeze. The social repercussions of three years of austerity measures imposed by international lenders are hitting hard. Thousands of businesses have shut down, unemployment is nearly 27 percent and rising, and the once dependable safety net of welfare benefits is being pulled in.

With further cutbacks and tax hikes about to kick in, Greece's social fabric is being torn apart.

Nowhere are cutbacks more visible and painful than in health care.