Johannesburg - “I worry about my family and friends in Greece. I’m getting calls asking what are the kinds of opportunities in South Africa.”
These were the words of Harry Gouvelis, the former president of the Federation of Hellenic Communities in South Africa, yesterday as he reflected on the frantic calls from Greeks affected by the economic meltdown in Greece.
On Sunday night, Greeks voted en masse to reject the crippling austerity measures in the terms of an EU bailout – making it more likely the shattered country will be ejected from the euro zone. A total of 61 percent voted “No”.
According to Gouvelis, the Greek community in South Africa are on tenterhooks as they wait for more news from family members in Greece. “At the moment they are living in a situation where the banks are closed. It’s making daily life pretty difficult,” he said.
Two pensioners in their 70s, known to Gouvelis and who had decided to spend their last years in Greece, were now suffering.
“The return on their (property) investments, on rental, is diminishing. Their returns on other investments have also been hit by the credit crunch.”
But Gouvelis said Greeks had been flocking out of their home country for the past five years already. “Many Greeks are coming and settling in South Africa as and when they can. Over 600 000 Greeks have left Greece looking for jobs in the past five years. There has been an enormous brain drain. Many of those are professionals and academics, and the impact on Greece and its economy has been huge.”
Another first-generation Greek living in South Africa, Costa Economou, said his cousins in Greece had no prospects and were considering leaving the country.
“It’s actually devastating. My cousins and their mates and their families are well educated but have no prospects for employment. Things have taken such a bad turn that if they want any financial security, they’re not going to find it in Greece,” he said, adding that he had received e-mails from strangers desperately asking him if he knew of work opportunities in South Africa.
Greek Prime Minister Alexis Tsipras insisted the vote gave him a mandate to go back and negotiate a better deal – but opponents have warned that would trigger a catastrophic financial collapse.
Joburg economist Azar Jammine said this would affect South Africa because we are important trading partners with Europe.
“Our imports and exports will suffer and our economic growth will slow down. Also, this could force international exchange rates up, which is not good for South Africa.”
The Star