On a similar note to James’ post about Greece’s economy, statistics from yesterday show that Greece’s unemployment numbers have risen to 27.5%. Their economy has had one of the worst rebounds since the 2008 financial crisis. Many blame the large amounts of debt/loans that Greece was incurring right before the crisis. Currently, they are reliant on loans from the IMF and other European countries. However, corruption has hindered progress in Greece, leading to such high numbers of unemployment which includes a 57% unemployment rate among individuals aged 15-24. On a more optimistic note, this week Greece’s Energy Ministry launched an international tender for a pipeline project that would transport about 8 billion cubic meters of gas into the European market from offshore fields controlled by Cyprus and Israel. They hope to exploit this energy rush in the Eastern Mediterranean in the future as a producer. But currently are only utilizing it as a transportation hub for Israeli and Cypriot gas reserves. It will be interesting to see Greece’s future in this market. Will they continue to just be a middle-man or enter into the production market themselves?