Sunday, April 23, 2017

The ponzi scheme that is the Eurozone. With over 26% unemployment, Greece is awarded fastest growing European economy [Chart]

With 26% unemployment, Greece was the fastest growing country in the Euro Area in the third quarter. You can’t make this shit up anymore.

zorba-the-greek-DI-3

You gotta love the EU’s warped sense of reality. Brussels¬†new normal includes record economic growth with record unemployment. And with that said, Greece is Europe’s new economic powerhouse, killing it with record GDP growth…OPA!

Via Zerohedge:

As reported earlier, Germany’s economy (accounting for about 30% of the Eurozone) avoided a recession by the narrowest of seasonally-adjusted margins when somehow, the Eurostat econometricians managed to calculate with laserlike precision that its economy grew by 0.1% in Q3, reversing the contraction from the previous quarter on hopes the Ukraine situation has now stabilized.

So far so good, but an even more amusing observation arises when looking at which was the fastest growing country in the Euro Area in the third quarter. The answer, courtesy of Eurostat, is that the nation whose GDP rose the most in Q3, surpassing Germany, Finland, the Netherlands, Austria and well, everyone else, was, drumroll…

Greece.

Yes, the same Greece whose latest unemployment reading was 25.9%, or more than where it was during the US Great Depression.

Ah Europe, never change.

Eurozone GDP_0

Thinking it over a bit, this may actually make some sense. After the criminal elites, perched on their thrones in Brussels, bought up all the prime infrastructure at pennies on the drachma, the Europhiles and banksters, can now crank up the action again and start cashing in on their awesome profits.

It’s worth noting that sitting next to Greece on the top of the list are countries just as broke and f**ed up as Hellas…Slovakia, Spain, Lithuania, Latvia, France and Portugal.

BOOYAH baby, its great to be an EU Oligarch.

References:

http://www.zerohedge.com/news/2014-11-14/and-259-unemployment-fastest-growing-economy-eurozone

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