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The comparision of American states by ppp adjusted GDP figures with other countries is utterly nonsense. According to those ridiculous statistics, states like West Virginia or Mississippi are even richer than the UK.
A significant part of the Greece economy was to make money in the retail industry by selling imported goods. But that's very similar in the UK and to a lesser extent in the U.S.
The economy in UK is somewhat comparable to the economy in Greece.
Those charts that adjust for PPP are apples to apples comparisons. They also adjust the Greek numbers for PPP.
Greece is not a prosperous country. It has practically no agriculture, it has no oil or minerals, it has no industry. All it has is shipping and that isn't really an industry that creates a lot of jobs in Greece. And being an amusement park for the rest of Europe does not make one wealthy.
Greece is a poor country that maxed out the credit card to make itself look rich. Greece is as far away from the UK and Germany on the economic scale as Macedonia and Bulgaria are from Greece. That is the bottom line.
Exactly.
I don't know why people don't get this. If the retirees need to lose 30% of pension, or public servants suffer a 30% pay cut, so be it. Not enough, what about cancel the free healthcare? What's to whine about?
In sum, just live the way you can afford, why is it so hard ?
If that's what they have to do to stay in the club, it's not worth it. What's so bad about going it alone? And btw, how are Romania and Bulgaria doing, while we're on the topic of struggling Balkan, or SE European, EU economies....
Back to the original topic: what does it mean "Europe without Finland", "Europe without Greece"? Even if they leave Eurozone and EU, they will stay in Europe.
For example Norway is not in Eurozone and not a EU member, but who can say that it is not in Europe?
Back to the original topic: what does it mean "Europe without Finland", "Europe without Greece"? Even if they leave Eurozone and EU, they will stay in Europe.
For example Norway is not in Eurozone and not a EU member, but who can say that it is not in Europe?
This is what I've been waiting for an explanation for, on this thread. The OP isn't talking.
Those charts that adjust for PPP are apples to apples comparisons. They also adjust the Greek numbers for PPP.
Greece is not a prosperous country. It has practically no agriculture, it has no oil or minerals, it has no industry. All it has is shipping and that isn't really an industry that creates a lot of jobs in Greece. And being an amusement park for the rest of Europe does not make one wealthy.
Greece is a poor country that maxed out the credit card to make itself look rich. Greece is as far away from the UK and Germany on the economic scale as Macedonia and Bulgaria are from Greece. That is the bottom line.
There's significant oil/gas deposits in the Ionian/Aegean seas and gold or other ores on the northern part ( a Canadian company was involved in this). Why do you think the Germans want to control the country (among other reasons)?
"Chevron CVX -1.13%, Eni, ExxonMobil and OMV, that “revealed geological analogies between the underwater area of the North Ionian and Italian and Albanian regions of the sea where oil and natural gas have already been found”"
"Greek owners operate almost 20% of the global fleet of merchant ships, and more than half of the European Union’s fleet. The industry makes up 7.5% of the Greek economy and employs around 200,000 people."
"Several owners said over the weekend that if the new increases come into force, they plan to set up operations in other shipping capitals such as London, Singapore and Dubai."
Is it??? I thought there was economic growth in the UK?
OMG Why is there growth in the UK? Importing more goods, that leads to added value in the retail industry. The UK has by far the biggest current account deficit. Greece had also huge economic growth before 2009. Growth through importing more and more goods that will lead to huge amounts of added value in the retail industry.
Those charts that adjust for PPP are apples to apples comparisons. They also adjust the Greek numbers for PPP.
Greece is not a prosperous country. It has practically no agriculture, it has no oil or minerals, it has no industry. All it has is shipping and that isn't really an industry that creates a lot of jobs in Greece. And being an amusement park for the rest of Europe does not make one wealthy.
Greece is a poor country that maxed out the credit card to make itself look rich. Greece is as far away from the UK and Germany on the economic scale as Macedonia and Bulgaria are from Greece. That is the bottom line.
PPP adjustments are utterly nonsense, because every country has a different basket of goods. They don't compare apples with apples, because they never adjust for differences in quality. The ppp concept is nothing more like a illogical figment.
Of course Greece is a poor country (but of course it has agriculture). It also has industry, but by far not enough. Now Greece is even more poor. Now (2014) they live within their means. Greeks should be shocked about how little they are able to produce, but no, they blame other countries for their own misery.
If that's what they have to do to stay in the club, it's not worth it. What's so bad about going it alone? And btw, how are Romania and Bulgaria doing, while we're on the topic of struggling Balkan, or SE European, EU economies....
But if they would leave the "club" than the cutbacks would be much harder. With an own currency, they wouldn't be able to import much. Even basic food products would become extremely expensive. The economy would collapse completely. The same would also happen to the UK, if the Pound collapsed.
Romania and Bulgaria are able to achieve a balanced current account balances. They also have a lot more industry than Greece. They are still much poorer, but produce much more than Greece. It's very unfair, because normally the people from Romania or Bulgaria should at least double as wealthy as the people in Greece.
Comparing that Greek poverty ridden, nothing producing hole to Finland and saying that Greece is more significant (more European) is the most amusing thing I have heard so far. I was hoping for German plan to be accepted and Greece kicked out of the Eurozone but unfortunately they were given more time to amuse us.
I think personally that Finland and Ireland can both be an example of how to build a strong and effective economy.
Finland compared to Greece is like a galaxy far far away in almost all aspects of economy and diplomacy.
But if they would leave the "club" than the cutbacks would be much harder. With an own currency, they wouldn't be able to import much. Even basic food products would become extremely expensive. The economy would collapse completely. The same would also happen to the UK, if the Pound collapsed.
Romania and Bulgaria are able to achieve a balanced current account balances. They also have a lot more industry than Greece. They are still much poorer, but produce much more than Greece. It's very unfair, because normally the people from Romania or Bulgaria should at least double as wealthy as the people in Greece.
Thanks you for an informative answer to both questions.
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Why is there growth in the UK? Importing more goods, that leads to added value in the retail industry. The UK has by far the biggest current account deficit. Greece had also huge economic growth before 2009. Growth through importing more and more goods that will lead to huge amounts of added value in the retail industry.
