In 2010, Panagiota Kalliakmani had just secured her chemistry degree and dreamed of going into research. Then the Greek economic crisis struck.
With the cash-strapped state forced into massive spending cuts, the plug was pulled on myriad research programmes and a police forensics job Panagiota planned to apply for in her home city of Thessaloniki was scrapped.
“The crisis was a slap in the face,” says the 34-year-old, who is now a chef. Working in the kitchen reminds her of being in a lab, she muses.
“We had grown up accustomed to the benefits of living in a European country and suddenly everything came crashing down,” Panagiota said.
As the fiscal crunch ate away a quarter of Greece’s economy, some 300,000 Greeks — among them the best educated and including Panagiota’s brother — emigrated.
Unemployment soared to highs of nearly 28 percent in 2013. Tens of thousands of small and middle-sized businesses had to shut up shop.
“The most painful part of this era were the small get-togethers we had to say farewell to friends emigrating for work,” says Natassa Dourida, a 35-year-old civil engineer.
In 2013, Natassa was working in construction, one of the most dynamic sectors of the economy up to that point.
As contracts dried up, she resolved to stay in Athens and became involved in the peer economy that timidly emerged as mainly young Greeks sought to help each other in response to the crisis.
With a Masters’ degree in conservation, Natassa helped in 2015 to set up Communitism, a group that undertakes the restoration of rundown historic buildings for community use.
“The crisis was an opportunity to learn how to live and solve problems together,” she said.
On August 20, Greece’s third and final bailout officially ends after years of hugely unpopular and stinging austerity measures.
The economy is growing slowly, and unemployment fell to below 20 percent in May for the first time since 2011.