Greece GDP Destruction

The World Bank tells us that GDP in Greece was US$354bn in 2008 and just US$235bn in 2008 http://databank.worldbank.org/data/reports.aspx?source=2&country=GRC&series=&period=# . In current money terms the GDP of Greece was around 25% lower in 2015 than it was in 2008. And, it is still falling. There is absolutely no chance that the GDP of Greece will have recovered ten years on from the 2008 crisis.

By 1950 the GDP of Greece had recovered to the level it was in 1939 http://discovery.ucl.ac.uk/1317677/1/270158.pdf. The GDP of Greece had recovered from the effects of World War II, even though the war did not end until 1945.That is right, the elites in Brussels have wrought more damage on Greece than all the death and destruction of World War II. GDP in the Euro Area as a whole is still below the pre-crisis level in 2008.

The EU Referendum gives us a chance to say “No – we do not want to be governed by people who unapologetically deliver this level of misery.” There has been no apology!

 

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