Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

UN LABOR ORGANIZATION SEES DARK PICTURE FOR GREECE

Published by Gbaf News

Posted on November 24, 2014

Featured image for article about Top Stories

ATHENS, Greece (AP) — Greece may be exiting a cruel six-year recession, but it will take at least 20 years for employment to regain pre-crisis levels without concerted action, the United Nations’ labor organization says.

An International Labor Organization official says a series of ILO recommendations could speed up the process by about eight years.

ILO research department head Raymond Torres outlined the proposals in a new ILO report presented in Athens on Monday. They combine emergency measures — including a 1 billion euro youth employment program and improved commercial credit conditions — as well as structural reforms.

Greece nearly went bankrupt in 2010 after years of profligate public spending, and took harsh austerity measures to secure international bailouts. Unemployment is 26 percent, with most jobless people at least a year out of work.