The effects of the crisis in the EU

The effects of the crisis in the EU

economy crisis

According to data released by the EU statistics office, Eurostat, the per capita income in Spain during 2014 stood at 91% of the average of the European Union for the second year and sixteen points was below the average Eurozone.

The countries with the highest per capita income in 2014 were Luxembourg (266%), Ireland (134%), the Netherlands (131%), Austria (130%), Denmark (125%), Germany (124%) and Sweden (123 %). Meanwhile, on the opposite side of the scale, countries with lower per capita income were Bulgaria (47%), Romania (55%), Croatia (59%), Latvia (64%), Hungary (68%) and Poland ( 68%).

Countries in the media like Spain and Italy have a per capita GDP of the that peaked just before the start of the crisis, in 2006 and 2007, when he came to lie three points above the average for the European Union. From there, it has only down year after year, compounded by the effects of the economic crisis in the case of Spain by 102% in 2008, 101% in 2009, 97% in 2010, 94% in 2011, 92% in 2012 and 91 % in 2013 and 2014.

Does greater GDP per capita translates into greater wealth and lower per capita GDP greater poverty? The answer is “not necessarily”, although it is quite significant and, usually, the higher the per capita income of a region is, the greater wealth in it.