Greece is the cradle of western civilisation. Philosophy, democracy and unique cultural icons. But, 15 years ago, something terrible started to happen to the Greek economy, which saw one of the biggests hits to living standards in the western world. GDP collapsed, unemployment soared and Greece became an economic basket case. This article explains what …
1970s – The Decade That Nearly BROKE BritainWatch this video on YouTube Readers Question I’m currently looking at stagflation in the mid-1970s in the UK, and the policies the then-Government undertook to solve the economic crisis. Was the Government right to widen the budget deficit 1974-5 in order to stimulate demand, or should it have …
Around 2000, something remarkable happened to the Italian economy. It stopped growing and went into a 20 year long-decline. Even if you adjust for population, Italy’s performance was strikingly worse than its main competitors. If we look at productivity, Italy fell far behind. It has effectively lost two decades with real wages remaining virtually stagnant. …
Since 2000, there was only one major economy which has seen a fall in real GDP per capita – Italy. In this period, Italy has experienced a shocking fall in productivity, rising debt, and prolonged economic turmoil. We are told the Italian economy is riven by cronyism, falling birth rates, and a regional divide. Yet, …
For three decades, the Chinese economy boomed, transforming itself into the world manufacturing hub. Up to 70% of suppliers on Amazon rely on Chinese supply chains. Buy any electric good and it’s likely to say ‘Made in China’. But, the Chinese economy is in crisis. A property collapse has seen prices fall and flats remain …
Since the financial crisis of 2009, the UK economy has experienced a real decline in economic fortunes. Last month, we entered a recession, but real GDP per capita has been stagnating for a decade. This poor economic performance is creating its own spiral of problems- rising debt, low investment and creaking public services. Recent budgets …
Sterling's Recovery in 2023Watch this video on YouTube After being one of the worst performing currencies of 2022, the Pound has staged an impressive recovery against the US Dollar, rising 15% from the depths of last September’s crisis. After years of decline, markets are now more optimistic the Pound will continue to strengthen. But why …
As elections loom, the Turkish economy is facing a self-inflicted economic crisis of high inflation, and a cost of living crisis that dwarfs what we see elsewhere in Europe. Turkey's Self-Inflicted Economic CrisisWatch this video on YouTube In recent years, Turkey has seen inflation rate surge to over 80% – leaving over 53% of people …