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GreekReporter.comGreek NewsEconomyWhat Would Happen in the Eurozone Without Greece?

What Would Happen in the Eurozone Without Greece?

eurozone-grexitPeople 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.
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.
The Eurozone would only lose 1.8% of its economic output. The GDP per capita would even increase by 1.5%.
The monetary union’s public debt would be reduced by 3.4%, but the private debt would only decrease by 0.9%.
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.
The Eurozone would lose 84% of its Orthodox Christians.
There would be 4.1% fewer marriages, but only 2% fewer divorces.
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.
The monetary union’s average altitude would be reduced by 157 meters. The highest mountain in Greece is Mount Olympus.
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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