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Monday, January 16, 2012

The eurozone Crisis in Graphic Detail

The eurozone is in deep debt turmoil. The debt crisis that has hit almost all 17 member states is spiraling out of hand; there is single solution in sight. In fact, the euro skeptics brigade is increasing by the day; most believe that eurozone may not survive as a single unit beyond this year.

The Economist has an interesting interactive feature on the current status of the debt crisis in the eurozone.

The Economist says that: "GDP rose in most countries during 2011, though there were marked differences in performance. Germany’s economy grew by a sprightly 3% according to its statistics office. The countries nearby with which Germany trades most heavily also fared well—though signs of incipient recession were visible towards the end of the year. By contrast GDP in Greece and Portugal has crashed under the weight of austerity. Greece’s economy may have contracted by as much as 6% in 2011. And the crisis is sapping the strength of even the so-called “core” euro-zone countries, such as Germany and France. The strains of the euro area’s sovereign-debt crisis make a recession in the early part of 2012 likely."

Read the complete note on the graphic on The Economist.


Srikanth R said...

Sir a request from me that please write about SOPA/PIPA and Controversies with Salman Rushdie. thanks :)

Likhitha said...

Sir, what would be the solution for ending this eurozone crisis now? By sticking strictly to the 3% rule? But how would Greece and others(Portugal, Ireland) first come out of recession?

Anonymous said...

sir,would you please elaborate what exactly is the eurozone crisis and what are the solutions to end this crisis ? what is the difference between trade deficit and fiscal deficit ?