Maybe the word recession was not accurate. Also Germany is a highly developed country, so it's expected to have minimal growth.
Greece should be compared to other developing economies in Europe (mostly pre-communist states), and that comparison is eye-popping...
The real economy, the one that affects people's lives, is still something like 25% below what was pre-2009.
In essence people are still 25% poorer than they were before 2009.
That's the worst recession EVER recorded in recent history. Worse than the 1930s.
That's why Greece is only slightly above Bulgaria (yet) in real purchasing power compared to other EU countries.
Don't get me wrong. There were a lot of benefits for most of the EU countries,
but the lack of common economic strategy, and regulation prooved catastrophic for some.
The real economy, the one that affects people's lives, is still something like 25% below what was pre-2009. In essence people are still 25% poorer than they were before 2009. That's the worst recession EVER recorded in recent history. Worse than the 1930s.
That's why Greece is only slightly above Bulgaria (yet) in real purchasing power compared to other EU countries.
Don't get me wrong. There were a lot of benefits for most of the EU countries, but the lack of common economic strategy, and regulation prooved catastrophic for some.