Perspective on Greece’s Great Depression

Bank of America Merrill Lynch provides an informative chart with perspective on how bad it is in Greece,

The Greek recession has been the most severe in the recent history of crisis and compares only to the U.S. Great Depression.  Reasons include: the fear of the Euro exit; the credit crunch;  aggressive and horizontal austerity;  substantial reform delays;  political risks; the pre-crisis structure of the economy; and the strong Euro. 

Godspeed,  Greece.

(click here if chart is not observable)

About these ads
This entry was posted in ECB, Economics, PIIGS and tagged , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s