In despair, the Greeks: Poverty, illegal immigration and the bleak future of the new generation of the biggest problems

    The worsening refugee crisis and the resurgence of the debt crisis have led to the psychology of consumers in Greece to very low levels, according to the results of a study of the…
    GfK Consumer Climate Europe (Consumer Climate in Europe) for the first quarter of 2016.
    The economic expectations decreased sharply during the first quarter. After falling by 17 points since December and by about 65 points from March 2015, the index found on -50,6 units in March of this year. This value is the lowest level since April 2012.
    Significant losses also suffered, and the index of income expectations, which had a vertical drop of over 27 units, on arriving in the -45,2 units by the end of last year until the end of the first quarter of 2016. This is the lowest level recorded since September 2013. Finally, the index lost 52,1 points from March of last year.
    The intention for the markets was the only indicator that remained stable during the first three months of the year. Was formed on the -37,6 units in March. This price is by just 1.5 points lower than in December (-36,1 units). However, taking into account the current climate, it is clear that the majority of Greek consumers are not even able to think to spend money on purchasing expensive products or services. For most, the current available income is not even enough to cover the daily needs.
    European consumers fear that there will be economic slowdown
    During the first quarter of 2016, the war in Syria as a continuing cause of the refugee crisis, the terrorist threat in Europe, the possible exit of Great Britain from the EU and the ongoing recession in major developing countries has weakened consumer sentiment and, in particular, the economic and income expectations of European consumers.
    According to the results of the study of GfK Consumer Climate Europe, from December of 2015 to March of 2016, the consumer climate index for the EU-28 decreased by 3.2 points, reaching 9 units.
    During the first quarter of the year, the discussions in the media and the general public have focused on a wide range of topics. Although the Islamic State has lost some of the territories that had figured out, the war in Syria is not over, therefore, the huge influx of refugees continues to exist. Initially, the refugee’s current heading unimpeded towards Central and Western Europe until the countries of the ‘Visegrad’ countries decided to close their borders and, consequently, the balkan route in early March.
    Although this stopped the flood of refugees that migrated through Europe, the people who are in need of assistance are now placed in reception centres in Greece. In France, the government ordered the soldiers to disperse the illegal refugee camp in Calais (also known as “The Jungle”), where camping guests which they hoped to travel to Great Britain. At the same time, continued political debate about how Europe can accommodate the huge numbers of refugees, and to proceed to a fair distribution between the member states.
    As noted in the study, the terrorist threat continued to be extremely high in Europe during the first three months of the year. However, given that the explosions in Belgium took place after the completion of the research consumer climate March, the fact has not been taken into account in the results.
    The referendum of June in Great Britain on the eve of the country in the European Union creates doubts for the future. Many economic experts, as well as many British consumers predict a strong and negative economic consequences in the case of the so-called Brexit.
    In addition, during the first quarter of 2016, it became clear that large developing countries such as China, Brazil and Russia are still in a period of economic weakness. This reduces the export prospects of european companies, and can have a negative impact on the economy.