People across the globe have started considering the possibility of a Greek exit from the Eurozone, but what would that mean for the European monetary union? The Wall Street Journal attempted to find the answer to this question in a recent article, noting the changes that would occur in certain indicators within the Eurozone.
Population
There would be 3.2% fewer people in the monetary union, but on average they would be younger. The Eurozone average age at moment stands at 39.6 years, while in Greece the average is 42.3.
Economy
The Eurozone would only lose 1.8% of its economic output. The GDP per capita would even increase by 1.5%.
Debt
The monetary union’s public debt would be reduced by 3.4%, but the private debt would only decrease by 0.9%.
Defense
Greece is seventh among the 19 Eurozone countries on a per capita defense spending. Without Greece, the annual defense spending per capita would be 0.4% higher.
Olive oil
The Eurozone would lose 24.5% of its oil production.
Religion
The Eurozone would lose 84% of its Orthodox Christians.
Marriage
There would be 4.1% fewer marriages, but only 2% fewer divorces.
Coastline
The Eurozone would become 4.6% smaller, but it would also lose 31.3% of its coastline, mainly due to the fact that Greece has around 2,000 islands.
Altitude
The monetary union’s average altitude would be reduced by 157 meters. The highest mountain in Greece is Mount Olympus.
Smokers
The monetary union would have 4.8% less smokers. Only Austria has a higher rate of smokers, aged 15 and beyond.
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