The Trueconomics blog gives us the scariest chart we’ve seen in a while on the Euro Area: can you imagine what Europe has lost in terms of GDP per capita ?
(original publishing date 10/20/14)
This is not a chart, it’s a medical record, and the patient is not going to leave the hospital any time soon (at least on his feet):
Greece is lost, and, at the moment, it seems crazy to imagine the case of Athens leaving the Euro, but what about the others ?
Well, Ireland, the first country of European austerity, is completely stuck.
And Italy has forgotten what the word “recovery” even means.
How many years do we have to wait until we get off of this mess (hopefully without a war) ?