Tag Archives: Greece

Here’s How Greece Could Affect Your Retirement Savings

Reaction As Greece Imposes Capital Control

Your 401(k) or IRA will probably be fine

Greek leaders are scrambling to nail down a new bailout dealbefore July 20, when the country would otherwise default on a €3.5 billion bond repayment to European creditors and might be forced to abandon the Euro currency altogether.

As recent stock performance in the U.S. suggests, fears of what a so-called “Grexit” could do to Europe’s economy has spread to American shores. Indeed, U.S. markets may very well be choppy for at least the next several weeks until there’s more certainty about the future.

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Young Greeks Find ‘The Math Just Doesn’t Work’ Amid Crisis

"In Europe, we're trying to save banks by sacrificing an entire generation — my generation," says Marios Kyriakos, 24.

The latest statistics show Greece and Spain with the highest unemployment rates in the eurozone, both at more than 26 percent. For young Greeks, the numbers are much worse: Nearly 60 percent of people under 25 are out of work, a figure that is expected to rise.

These aren’t just numbers for 24-year-old Marios Kyriakos, who was recently sipping a sweet espresso freddo at an arty cafe in his neighborhood. He says he’s even had to cut back on that small pleasure.

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