Bank of Greece Warns Housing Costs Fuel Demographic Crisis

Bank of Greece Chief Warns Housing Costs Are Delaying Family Formation and Deepening the Demographic Crisis

Bank of Greece Governor Yannis Stournaras has warned that soaring housing costs are now one of the primary drivers of Greece's demographic decline forcing young adults to delay or abandon plans to start families — and that government interventions, while welcome, will take significant time to have an effect. Speaking at a central banking conference in Dubrovnik, Mr. Stournaras said Greece's housing cost burden is among the highest in the Eurozone and that housing insecurity directly undermine...

By ANTHEE CARASSAVA