So, if Greece has a higher relative cost of living, if the distribution of wealth is relatively more unequal and if they have a relatively worse social welfare system then, yes, they'll face hardship.
A key news story for me from a few years back was how an elderly man lit himself on fire (or hung himself? committed suicide in public anyhow) in a central square in Athens as a direct result of the hardship brought about by austerity measures. And this, in an as you say demonstratively wealthy country. Sickening.
1) The cost of living.
2) The distribution of wealth.
3) Social safety nets.
So, if Greece has a higher relative cost of living, if the distribution of wealth is relatively more unequal and if they have a relatively worse social welfare system then, yes, they'll face hardship.
A key news story for me from a few years back was how an elderly man lit himself on fire (or hung himself? committed suicide in public anyhow) in a central square in Athens as a direct result of the hardship brought about by austerity measures. And this, in an as you say demonstratively wealthy country. Sickening.