Greeks feel ‘sorry and sad’ about economic crisis

Kostas Trichias, Dimitris Christoulis and Vasilis Nasdos explain how they experience the emotional highs and lows of the Greek economic crisis while living abroad.

The Greek community at the UT consists of less than twenty students and staff, estimates Dimitris Christoulis, 33, postdoc at the Faculty of Engineering Technology. He enjoys a cup of coffee in the sun while chatting to his friend Vasilis Nasdos, 30, a master student from the same faculty. There is no student organization specifically for Greeks, so they usually encounter their fellow countrymen on campus by chance. ‘It took me about six months until I met these guys,’ says the electrical engineering master student Kostas Trichinas, 26, as he joins in the discussion. While Christoulis and Nasdos arrived in the second half of 2008, this is Trichias’ first academic year in Enschede.

The three Greeks closely follow the news about the economic crisis in their home country. Greece recently acquired a bailout of 110 million euros in loans spread out over the next three years which is provided by its European partners and the International Monetary Fund. This staggering debt means that the country must make severe budget cuts.

The three men’s families back home feel the harsh impact and implications of the situation. ‘I feel like we’re the lucky ones, that we’re here right now and don’t have to deal with this whole situation,’ says Trichias. The yearly pension of Trichias and Christoulis’ parents has been reduced by 15%. Nasdos’ mother and father were among the first Greeks to be affected by budget cutbacks. ‘They both work in the public sector and were getting fourteen salaries a year. Now they’re getting twelve.’ Christoulis and Trichias noticed this baffles Dutch colleagues and fellow students, leading to some misunderstanding on the subject. One Dutch friend of Trichias once exclaimed in surprise, ‘You’re getting fourteen salaries?! You bastards!’ But Christoulis explains that these ‘extra payments’ can be compared to vacation money most Dutch people receive before the summer.

In any case, taking the payments away means a reduction in income of about 15% for the average Greek. Minimum wages are down by approximately the same percentage, forcing some Greeks to work more than one job. According to Christoulis, it’s now very common for people to deliver pizzas or drive a taxi in the evening after their day job. At the same time, the cost of living in Greece is significantly increasing. Christoulis points out that within a few months, value-added tax has risen from 19% to 23%. Trichias: ‘Only one year ago, we used to pay half the price for gasoline compared to the pump price here, but now it’s more expensive in Greece than in the Netherlands.’

The current cutbacks are one thing, but there are many fears and rumors spreading about what could happen next. Trichias’ parents are concerned many banks could go bankrupt. ‘People don’t know where to put their money to make it safer,’ he adds.  His parents most recently asked him about the current market interest rates in the Netherlands, thinking they might be able to deposit some of their money in Dutch banks. Christoulis expects that the real extent of the crisis will become clear within a few months, although he is rather pessimistic about the fate of many Greeks: ‘It will be very difficult for them to have the normal life they had before the crisis.’ The three friends agree that they don’t feel ashamed but rather ‘sorry and sad’ for their country. They sympathize with the hardships facing their fellow countrymen at the moment. Trichias openly wonders, ‘Why did it have to come to this?’

Many news reports of the Greek economic situation are dominated by vivid images of protests and strikes. It is also said that Greeks are notorious for evading taxes. Nasdos explains this stereotype usually applies only to the upper class. ‘For example, if you work in the public sector, the state knows exactly how much money you make, so you cannot evade taxes.’ Trichias explains the reaction of Greeks, ‘That is why people are so angry, because rich people and politicians steal from the government, and we have to pay for it now.’

Christoulis and Trichias say the punishment for evasion of taxes and corruption within the government is mild, and there are even some immunity laws to protect politicians from being persecuted by law. According to Nasdos, it takes more than government budget cuts to solve Greece’s financial problems, ‘In my opinion, the judicial, legislative and executive powers in Greece are highly corrupted. If the economic problem is fixed, and people with higher incomes are taxed properly then you can find a real solution.’

Eating a slice of humble pie: Kostas Trichias, Vasilis Nasdos and Dimitris Christoulis (left to right) maintain a healthy sense of humor about their country. Do their friends ever tell jokes about Greece? Trichias answers, ‘We all hear jokes about it.’ Christoulis recounts the time when colleagues put a sticker on his bank pass saying, ‘sponsored by Angela Merkel’. The Greeks don’t take offence to the snide wise cracks. Nasdos says laughing, ‘We have a good sense of humor.’ Trichias adds, ‘It’s not meant to harm us. They tease us just because they feel they’re paying for us.’ (Foto: Gijs van Ouwerkerk)