Europe’s East Will Soon Overtake It’s South for Living Standards

https://www.bnnbloomberg.ca/europe-s-east-will-soon-overtake-club-med-for-living-standards-1.2068407

by YYY_333

18 comments

  1. Source: [https://www.bloomberg.com/news/articles/2024-05-03/europe-s-east-will-soon-overtake-club-med-for-living-standards?srnd=homepage-europe](https://www.bloomberg.com/news/articles/2024-05-03/europe-s-east-will-soon-overtake-club-med-for-living-standards?srnd=homepage-europe)

    >Almost four decades after the Soviet Union collapsed, living standards in the countries that broke free from its orbit to join the European Union are set to leapfrog the bloc’s south.

    >Per capita income in Slovenia will surpass that of Italy by 2029 when adjusted for purchasing power, according to the latest International Monetary Fund projections. Lithuania will draw level on that metric, while Poland won’t be far behind.

    >The shift would make good on promises for wealth in the nations that became EU members from 2004 to grow closer to the currency union’s richer west. That process didn’t happen as rapidly as envisaged, with convergence suffering repeated setbacks from the volatile 1990s period to 2008’s global crash and the ensuing debt crisis.

  5. I am on the fence here. Where does that leave Portugal? They say it’s the most south western Eastern European country 🫤

  6. The worst part of this are migrants from Spain and Portugal flooding into Warsaw creating those lound unpleasant ghettos, not learning the language or culture.

  7. The east can have all the money in the world, it will still be shite. It’s the people. What about them? There’s no community, it’s everyone for themselves.

  8. Europe east is getting a lot of Euromoney for their development. One would hope that once they reach Italian standards Italy will stop being a net contributor for their wealth, hence reaching equal levels of wealth and growing at similar rates from that point onwards, which was the plan all along.

    It’s not a race after all, the goal isn’t to dominate in the growth charts, but to make wealth more equal.

  9. I don’t know about this, the warm climate should give extra 100% towards living standard. I know people living in some Spainish caves, eating food from garbage bins of big stores and feeling happy doing so. Try doing that during the winter here in the Baltics.
    Maybe I am salty because we had snow like a week ago still.

  10. the only way for something falling to overtake something else, is for the other thing to be falling at a faster rate, are yall good in the south?

  11. Sorry it’s bothering me: “its” not “it’s”

    This means “…East Will Soon Overtake It Is South For Living Standards”

  12. You know, whenever you see these economic charts predicting the future it is important to remember that all of them are pretending Joe Biden wins the US election. Until after the US election you have no idea how anything will develop past this year.

  13. When this happens, corporations will have to find cheaper labour and Eastern countries will have the same fate of southerners. Who is next? North Africa?

  14. Does that mean it’ll overtake the North as well, because every few weeks I see some article about how italy is replacing germany as the european top dog?

  15. Damn, Slovenia’s femboys business is finally paying off it seems

    Jokes aside, good for our Eurobros and damn if Italy needs help

  16. I’ll be down voted to hell but I doubt about the balkan ones, I live there and the corruption is unthinkable. If you have money there is no law for you shit is wild.

  17. Living standards are being measured via consumption 

    it’s the same logic being used here that is used in comparing the USA to Western Europe 

    Life expectancy and other quality of health metrics in the East will still lag Italy and Spain massively 

  18. Take these predictions with a grain of salt. They’re estimating pretty much linear growth for Eastern Europe and declining (?) growth for Spain. It also doesn’t tell you much about regional inequality. Madrid, Barcelona and Milan might as well be a different country compared to Andalucia or Sicilia.

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