Further austerity measures set to come with the latest Greek bailout could spark more social unrest and hardship, a Flinders academic warns.

The Greek Parliament needs to focus on future economic growth opportunities as well as debt reduction when it votes on the third European Commission bailout tomorrow, says Dr Nicholas Mangos, from Flinders Business School.

Greece is already reeling from prolonged, entrenched youth unemployment and social and community hardship as the country seeks to address its debt crisis, he says.

“Understandably there is a lot of attention on economic reforms, but that needs to be balanced against the need for some economic growth and productivity together with humanitarian concerns,” Dr Mangos says.

“Introducing new taxes, finding more social welfare and public sector cuts, along with asset sales are needed to address the immediate needs of the EU,” he says.

“But from a Greek people’s perspective, it is very difficult when youth unemployment is more than 50% and companies cannot afford to pay their workers, with some employees not paid for months on end.

“The Greek Parliament is not only voting to stay in the Eurozone, but also to find ways to develop a more sustainable economy and seek long-term growth in its gross domestic product with care and consideration given to its fragile social situation.

“Societal concerns, for the aged and youth in particular, together with business and government reforms, must be balanced against these short-term economic reforms.”

Progressive, sustainable economic output and “social mending” need to be in focus, he says.