OECD Data on Greece
Given below is a
table based on OECD Data which indicates that Greece has been sliding for quite
some time. The EU should, with all
responsibility , own up that it is only as strong as the weakest link. EU cannot cut
it off now as it is an economic
integration that has been on since 2000. The message of a Greek exit is one of economic oligarchy.
If Greek's disposable incomes are falling, how can one
expect the natives not to be restless. Add this to a youth unemployment
touching 50 percent, the causes for the minor mutiny or resistance in Athens under Alexis Tsipras are evident.
Greece , with its falling wages has seen emigration. Its
falling wages should also see its competitiveness restored.
|
|
2006
|
2007
|
2008
|
2009
|
2010
|
2011
|
2012
|
2013
|
Household
Disposable Income
|
Annual
Growth Percent
|
5.1
|
7.3
|
-2.3
|
-0.4,
|
-11.4
|
-10.7
|
-10.8
|
|
Real GDP
Growth
|
Annual
Growth Percent
|
5.5
|
3.5
|
-0.2
|
-3.1
|
-4.9
|
-7.1
|
-7.0
|
-3.9
|
GDP Per
Capita
|
USD PPP
|
26841
|
27794
|
29738
|
29727
|
28385
|
27045
|
25475
|
|
|
|
|
|
|
|
|
|
|
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"For Greeks a blush- for
Greece a tear"-: Lord Byron
Without any risk or
responsibility
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