Friday, February 10, 2012

Greek death spiral accelerates

Another normal day at the Hellenic Statistical Authority.

We learn that:

Greece's manufacturing output contracted by 15.5pc in December from a year earlier.

Industrial output fell 11.3pc, compared to minus 7.8pc in November.

Unemployment jumped to 20.9pc in November, up from 18.2pc a month earlier.

I have little further to add. This is what a death spiral looks like.
Read the rest here.

1 comment:

Anastasia Theodoridis said...

Greece is being made an example for anyone else who may be resisting the full political integration of Europe into one State with "shared sovereignty." Yeah, right.