Is Europe’s crisis worse than Great Depression?

By Staff | November 5, 2014 | Last updated on November 5, 2014
1 min read

The Eurozone’s economic stagnation is worse than the Great Depression, says Business Insider writer Tomas Hirst.

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During the Depression, America’s GDP shrank by a third, and industrial production declined by nearly half, says Hirst. Between 2009 and 2014, the Eurozone’s GDP only dropped by 5%, but that number hides woes in many individual countries.

For instance, Greece’s GDP decline by 25% between late 2007 and late 2013, writes Hirst. In Italy, unemployment is at 44%.

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The staff of have been covering news for financial advisors since 1998.