Saturday, February 21, 2015

Greece has lots of problems another one is that it is getting older

Like me you must be fed up with yet another Greek Crisis that gets averted at the last moment. One of these days it will not and then all hell be let loose.

If you take any interest in global news you cannot help but know that Greece has a long list of social and economic problems. One that is not given much visibility is that its population, especially its working population, is declining. If the number of Greek voices you hear in London is anything to go by then it has declined even more over the past year.

As you can see, a declining working population in Japan seems well correlated to the decline in the country's GDP. Greece is no Japan and starts off from a totally different base of economic efficiency. 

I suspect the figures for Portugal, Spain and large parts of southern France are not that different.

Bleak times. Dick Stroud

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