Greece lost a quarter of its GDP during the 2010s austerity decade

Evidence

Greece lost a quarter of its GDP in one decade. At its height in July 2013, the unemployment rate reached almost 30 percent. A few months earlier, it had reached a peak in Spain, too: almost 27 percent. Half of Spanish twenty-five-year-olds were jobless. — Arthur Borriello and Anton Jäger, The Populist Moment, 112

Categorization

• XREF: connects to: Greek austerity raised debt ratios while destroying GDP and employment — Arthur Borriello and Anton Jäger, The Populist Moment: The Left After the…, 172; Austerity failed to reduce Greek debt-to-GDP projections — Mark Blyth, Austerity: The History of a Dangerous…, 201; Austerity cuts raised the debt-to-GDP ratios of Eurozone crisis states. — Mark Blyth, Austerity: The History of a Dangerous…, 30 (+2 more)

Broader Connections

• Greek austerity raised debt ratios while destroying GDP and employment #corroborates (0.90) — Arthur Borriello and Anton Jäger, The Populist Moment, 172
• Austerity failed to reduce Greek debt-to-GDP projections #expands (0.75) — Mark Blyth, Austerity, 201
• Austerity cuts raised the debt-to-GDP ratios of Eurozone crisis states. #complicates (0.75) — Mark Blyth, Austerity, 30
• The 2008 crisis pushed whole nations toward bankruptcy and austerity #expands (0.70)
• Structural adjustment programs exported expansionary austerity to the developing world with poor results #expands (0.70) — Mark Blyth, Austerity, 439