Greek business, tourism associations warn of unemployment 'explosion' if no deal

More than 1 in 4 Greeks remain unemployed
By The Associated Press
|hrreporter.com|Last Updated: 07/09/2015

ATHENS, Greece (AP) — Greece's main business and tourism associations have warned of an ``explosion of unemployment'' if the government fails to find a deal with creditors soon and reopen banks.

In a joint letter to the government Wednesday, five associations urge Prime Minister Alexis Tsipras not to risk the country's place in the euro.

Their letter says that ``Unless business activity resumes soon, with a restoration of liquidity, there will be an explosion of unemployment that will be dramatic and will wipe out all the sacrifices made by the Greek people over the past five years.''

More than one in four Greeks remain out of work, with the crisis and bailout austerity measures costing roughly a million jobs, mostly in the private sector.

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