Friday, August 29, 2014

29/8/2014: Stability... of Negative Growth: Euro Area in Historical Perspective


Washington Post has a nifty chart plotting the demise of Europe... http://www.washingtonpost.com/blogs/wonkblog/wp/2014/08/20/worse-than-the-1930s-europes-recession-is-really-a-depression/

Here it is:
That's not just 'periphery' up there in black. It's the entire euro area, with the stellar performer Germany, solid Austria and exports-rich Belgium and the Netherlands, competitiveness-leading world superstar Finland, the best-educated country in the solar system Ireland, and on... and on...

It has been 6.5 years since euro GDP been below pre-crisis levels. And things are getting worse, not better as we speak.

Remember, this is supposedly the European Century, per comfortably overpaid outgoing EU Commission. This is the Age of Europe, per majority of the comfortably overpaid incoming EU Commission. This is the state of delusion. 
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