BLOOMBERG: MIDDLE CLASS DOES NOT HAVE ACCESS TO EUROPEAN AID PACKAGES, GREEK OLIGARCHS ARE POCKETING ALL THE MONEY.
(...) No Money
Even as Greece reduces its deficit and accepts a European aid package that may include a 34.4 billion-euro loan approved last month, conditions for Greece’s middle class are likely to worsen next year as austerity measures take a bigger bite, said George Tzogopoulos, a research fellow at the Hellenic Foundation for European & Foreign Policy in Athens.
“I don’t think there is a single Greek citizen who believes that things will be better,” Tzogopoulos said. “There is no money for people to spend.”
Signs of Greece’s decline are everywhere in Thessaloniki, its second-largest city. Stores are closed in the fashionable shopping district downtown. Near an Yves Saint Laurent store, a man searched the trash bins for scrap metal, which he piled in the same shopping cart where his toddler daughter rode (....)