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Planet Money

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Business, News & Politics

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The economy, explained, with stories and surprises. Imagine you could call up a friend and say, "Meet me at the bar and tell me what's going on with the economy." Now imagine that's actually a fun evening. That's what we're going for at <em>Planet Money</em>. People seem to like it.

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#527: The Amazing Shrinking Economy Might Stop Shrinking

March 26th, 2014

Episode 677 of 911 episodes

For the past few years, life in Greece has been like that movieGroundhog Day. Every year, it's been the same thing over and over. The official statistics come out, and the news is bad. The economy shrank this year, the economy shrank this year, the economy shrank this year.But this year, things might be different.* The official forecasts are that the amazing shrinking economy will finally stop shrinking.This might sound like good news, but for people living in Greece it's been a painful process. Elias Tilligadas is a government food inspector in Greece. Recently, his pay was cut 45 percent."The numbers are getting better; the people are getting worse," Elias says. "Our lives are getting worse."

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