Excellent graphical picture of Eurozone in the Times. The GDP is estimated to contract sharply in all the peripheral economies, including Spain and Portugal.
Their respective banking sector assets are atleast double the size of each economy. And the ratio of bad loans have been mounting.
Debt to GDP ratios have surged and are at unsustainable levels. Borrowing costs have accordingly risen steeply.
Unemployment rate are very high and with economies contracting, there is limited prospects of the labour market improving any time soon.
Greece, Ireland, Portugal, and Spain have so far received banking bailout funds.
Their respective banking sector assets are atleast double the size of each economy. And the ratio of bad loans have been mounting.
Debt to GDP ratios have surged and are at unsustainable levels. Borrowing costs have accordingly risen steeply.
Unemployment rate are very high and with economies contracting, there is limited prospects of the labour market improving any time soon.
Greece, Ireland, Portugal, and Spain have so far received banking bailout funds.
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