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Greece Faces Mounting Social Strain as 2.8 Million Residents Risk Poverty

                                        Athens, Greece Greece is once again confronting a troubling social reality: an estimated 2.8 million people—more than a quarter of the country’s population—are now at risk of poverty or social exclusion. Despite signs of economic recovery in recent years, the benefits have not reached everyone, leaving many households struggling to keep up with rising living costs, stagnant wages, and persistent unemployment. The latest figures highlight widening inequality, particularly among young people, single‑parent families, and the long‑term unemployed. Inflation has intensified the pressure, eroding purchasing power and pushing vulnerable groups closer to the edge. Social organizations warn that the situation is becoming unsustainable, with increasing demand for food aid, housing support, and community services. While the government ha...
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GST Holiday Fails to Deliver Economic Lift, Data Shows Minimal Impact

                                               

New figures reveal that Canada's GST/HST holiday yielded little boost in consumer spending, falling short of expectations. Payment processor Moneris reported a 4% decline in overall spending during the tax break period compared to the previous year, with both the number and size of transactions dropping slightly. Similarly, a survey conducted by the Canadian Federation of Independent Business (CFIB) found that only about 5% of small businesses experienced a noticeable sales increase, while the majority reported no significant change in business activity.

Despite the intended relief, many retailers found the initiative more burdensome than beneficial, citing last-minute adjustments to point-of-sale systems and increased administrative challenges. Although certain sectors, like children's apparel, saw minor gains, these were not enough to offset the overall downturn in consumer spending. The data suggests that the tax holiday may have merely shifted the timing of purchases rather than stimulating additional economic activity.


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