Sunday, February 15, 2015

Europe is only as strong as its weakest link: why Greece must stay.

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












"For Greeks a blush- for Greece a tear"-: Lord Byron


ellas.jpgWithout any risk or responsibility

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