Here are three scary charts about Europe. The scariest comes from three BofA economists, via Wonkblog, which carries the output growth projections. Even the optimistic projections look bleak for Italy and France, and positively catastrophic for Spain.
Zero Hedge points to the rapidly declining bank deposits in the PIIGS and Cyprus (which will soon fall sharply). The crisis is certain to leave deep scars in the banking sector of the peripheral economies.
Youth unemployment in Greece and Spain is at shockingly high level, well above 50% and rising. For the Euro-zone as a whole it was 23.8%.