A more detailed and accessible version of the map “2008 crisis and Pandemic create a lost decade for many European Countries” (Interactive link in comments)

25 comments

  5. I suppose that is with $/€ exchange rates, with the dollar being at its lowest in 2009 (for obvious reasons). If this is the case the picture is a little bit more complicated than what is portrayed here. Most European economies actually had growth.

  7. This is true. But only when looking at current USD to Euro exchange rates, when looking at the data in constant USD or just in Euros most countries, like France, the UK, Sweden, Spain, Turkey and many more had a higher GDP per capita in 2019 than in 2008 or 2007. Almost the entire map should be blue.

    Real GDP per capita increased in almost all European countries since 2008. In Bitcoin every countries GDP shrank over the last decade, that’s not a useful measure.

    Italy and Greece and Cyprus did have a higher GDP per capita back then but I think they might be the only ones.

    [Source](https://data.worldbank.org/indicator/NY.GDP.PCAP.KD?end=2019&locations=FR-GR-TR-GB-IT-ES-SE-DE&start=1960&type=shaded&view=chart)

  9. Go off Moldova!! That’s right!

    Apparently they grew 400% since 2000. That’s even more impressive.

  25. Eastern Europe (including large parts of east Germany) was less developed in the early 2000s than it is now, surprise surprise. Greece was hammered by the EU in its debt crisis, in case we’d forgotten.

    It does gives an indication of how much outsourcing to the accession countries held back productivity in western EU members (one of the many prompts for Brexit) but there’s not much in the map that looks unexpected.

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