Few pics about agony of Greece
Political upheaval is already having an economic cost. Greece emerged from recession in early 2014, but its escape from contraction was short-lived. Figures released on February 13th showed the Greek economy still growing year on year, but shrinking on a quarterly basis in the final three months of 2014. Since 2008, the Greek economy has shrunk by about a quarter. Although not quite as deep a downturn as America’s Depression, Greece’s recession was more prolonged and is likely to take more time fully to recover from. Recent downturns in the euro area and Britain seem like minor hiccups in comparison.