Author: Mehnaz Ladha
Advisors: Rebecca Leung, Edna Negrón, Rebecca Root

What Is Érrosthe?

Following the adoption of the euro in 2001, financial mismanagement in Greece led the country to its current economic state. As the 12th member of the Eurozone, Greece made the most of low interests rates and borrowed money heavily on the global market. Increases in wages and pensions coupled with mass tax evasions contributed to the rising public debt, which currently stands at more than 320 billion euros ($393.15 billion).

More than 10 years later, Greece is nearing the end of its third bailout package, and signs of economic recovery restore hope among the Greek people. But in the last decade, the country’s economy has been placed under intense scrutiny by international lenders. With the country’s teetering economy, small business owners are a particular segment of the population who have experienced the brunt of the crisis and have struggled to recover.

About the Process:

The purpose of this multimedia package is to shine a light on how small businesses in Central Athens were affected by the bailout crisis of 2009. Interviews with economists, anthropologists and small business owners were conducted during the summer of 2017. The collected information was then synthesized and edited down to produce the three types of storytelling components: small business profiles, Q&As and an informative timeline. Finally, the name for this project was inspired by the Ancient Greek word for strength and wellness, Érrosthe.

Sources:

Al Jazeera English Ggia Sky News
Andy Hay Greek National Statistics Agency The Associated Press
AP Archives Jan Wellman The National
Ava Babili Julia Tulke Travel Coffee Book
Des Byrne Ion Androutsopoulos VOA News
DTRocks Lindau Nobel Laureate Meetings Vox
Eric Vernier Nagaremon Wagner T. Cassimiro
European External Action Service PBS NewsHour Wall Street Journal
George Magiafas Piet Theisohn Weekend Wayfarers
Gerard McGovern Prime Minister of Greece World Bank