What Internal Devaluation in Greece Looks Like

As you can see wages in greece have declined by more than 20 percent nominally from 2010 up until 2014.

Greece Economic Overview (May 2012)

Overview of the Greece economy (May 2012). Especially notice the consumer confidence and the collapsed new car registrations.

EU Regions: GDP Per Capita

Following on my previous post here I show the GDP per capita (2008). First per country as you can see in the next table. Germany, France and the U.K. are not in the top, while they have the highest number of inhabitants. Norway, Switzerland and Denmark are the top three (besides Luxembourg). Bulgaria, Romania and Poland have the lowest GDP per capita.

In the next graph you can see the GDP per capita on the regional level. Again England, the Netherlands, West-Germany, Switzerland and North Italy stand out.

Eurostat

Greece Economic Overview (February 2012)

This graph from Reuters gives a great overview of the current economic situation in Greece. All the indicators are a lot worse than the Euro Zone average. Especially look at the unemployment rate, which recently jumped over 20 percent.

Greece Debt/GDP: Austerity Versus Economic Growth

This chart from Der Spiegel shows in a great way how austerity can make the Debt/GDP ratio bigger(!). When more austerity in the future makes the economy of Greece contract even more, the debt ratio as a percentage gdp (given the debt remains the same) increases, while austerity is implemented to make the debt ratio decrease. This is why it is important the Troika (Europe+IMF) - which currently is about ruling the Greek government - needs to look at the trade-off between austerity and economic growth every time it evaluates the Greek economy.

Der Spiegel

The Lost Decade For Greece: GDP at 2003 Levels

This chart shows the value of the real Greek GDP in billion Euros. The Greek Statistical authority has revised the GDP numbers of the last few years downward. Which results in an estimated GDP of 184 billion euros in 2011. Which is about as high as the GDP in 2003.

Greek Default Watch