Of all the challenges Greeks have struggled with during the last decades, the most significant and traumatic has been the Greek government-debt crisis of 2010.
It was an event that changed the lives of tens of millions of people, especially those who chose to leave the country for other opportunities abroad.
The Greek economic crisis: A challenge that changed the lives of people
The Greek economic crisis, which officially lasted for eight years, not only had a profoundly negative impact on the country’s economy and people but also resulted in consequences so severe that reversing many of these still seems highly questionable.
Unemployment rates skyrocketed to over 27 percent in 2013. That same year, more than 60 percent of young adults were left without jobs, and poverty levels increased significantly with many middle-class families also falling victim.
By 2015, more than a third of the population was at risk of poverty and social exclusion. In 2012 alone, income had dropped by 50 percent. To secure bailout packages from the European Troika, Greece was mandated to implement harsh austerity measures, including deep cuts to public sector wages, pensions, and social services.
Additionally, there were severe cuts to healthcare spending, leading to shortages of medical supplies and staff. The crisis had a significant impact on mental health, which led to increases in depression and suicides.
Mass emigration: the most devastating consequence of the crisis
Nonetheless, possibly the most damaging effect of the crisis was the massive emigration of Greece’s youth. Young, educated individuals, facing a bleak future in an economically devastated nation with few job opportunities in their fields, had no choice but to leave and seek better prospects in wealthier European nations.
This led to a significant rise in Greece’s median age, making it one of the most demographically aged populations in Europe. Additionally, the country suffered from brain-drain, as the most intelligent and highly educated young adults fled.
But just exactly how harsh were things for young Greek adults during these trying times, and were they really so bad that they saw emigration as their only outlet?
Furthermore, is there any way that the situation might be reversed so that Greeks might return to their motherland?
Interview with Marios Mathios
In speaking with Marios Mathios, a highly-educated Greek historian who experienced the Greek emigration crisis firsthand when he left Greece for Germany in 2020, we asked him:
Greek Reporter: Marios, you left Greece for Germany in 2020. How bad was the situation through the crisis in Greece and what led you to this decision?
Marios: I left Greece in March 2020 just before the lockdowns and travel restrictions began. If I had planned to leave a week later, I wouldn’t have made it out. The situation in Greece was difficult, especially since 2010 to 2012. Despite having a degree in History and Archaeology from the University of Athens, finding a job was challenging, not just in my field but in general. I turned to seasonal tourism work in 2015.
At first, it was exciting—new places, new people, and decent pay. But the downside was working nonstop for six months in stressful and sometimes toxic environments. After four seasons, I burned out and moved back to my parents’ house. Around the same time, I was in a long-distance relationship with my future wife, and we both wanted to live together in a country with better opportunities. So, we decided to move to Germany.
Marios: Life in Germany is quite different from Greece. To rent a home in Germany, you must first register with the local authorities. When I first arrived, finding a home was easy, but after the war in Ukraine and the arrival of many refugees, it has become much harder. The same goes for salaries. When I arrived, the minimum wage was €9.50 per hour; now, it’s €14.10 per hour. However, living on €9.50 per hour was easier because prices were lower.
Overall, living in Germany is much better, especially for families. In Thuringia, where I live, the average salary for an unskilled worker is €1,500 to €1,800 per month, and it’s even higher in other German states. This income is enough to cover rent, groceries, activities, and entertainment, especially if both partners work. In such a case, it’s possible to afford vacations twice a year.
Greek Reporter: How do you view the situation with other Greeks who have come to Germany during the last decade? Do you believe this immigration trend will continue?
Marios: Unfortunately yes! The situation in Greece is difficult, and I doubt immigration is going to stop anytime soon. Post-crisis, if you don’t have connections with government or party officials, or other influential people, it’s difficult to find a good job. People with technical education have it a bit easier.
But there is more than that. Greek society has faced years of decline and corruption, and now it seems to be getting worse. We see this in the rising crime rates even within families. I’m not saying life in Germany is perfect, but the situation here is much better.
4th question: Do you think there is any prospect for change in terms of the situation in Greece? Would you return if you were given the chance to do so?
Marios: Unfortunately, I’ve stopped believing that things will change in Greece anytime soon. Change might only come when the country faces total collapse, forcing improvements out of necessity. Until then, I don’t want to return—not for myself, but for my daughter. I want her to grow up in a better environment with more opportunities than I had.
Key takeaways
In conclusion, the economic crisis of 2010 has had a lasting impact on Greeks. It has affected millions and led to severe economic, social, and demographic challenges. For many young Greeks such as Marios Mathios, leaving the country was not a choice but a necessity.
He, like many others, were driven by a lack of opportunities and a desire for a better life abroad. As Greece continues to struggle with the aftershocks of the crisis, the prospect of reversing these trends remains uncertain, casting a long shadow over the nation’s recovery and the possibility of welcoming back those who were forced to leave the country.
