Carnegie Endowment for International Peace

Greece Is On Pace For The Worst Recession In Modern History

The Greek economy shrank nearly 7% in 2011, the fifth straight year the country has been in a recession. GDP has shriveled by a sixth since 2006, and unemployment has tripled over that period to 20%. With new rounds of austerity just announced, and a default yet to come, the nightmare isn’t even close to … Continue reading →