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Europe's Scariest Chart In More Detail

Tyler Durden's picture


While the surging unemployment rates across Europe are the most troublesome for politicians (and the extreme youth unemployment even more so), if we take a closer and more 'local' view of the stress, it is interestingly more regional than national. While Spain and Greece stand out, the unemployment rate, as analyzed in the chart below by Flute Thoughts blog, does not follow national borders. Northern Italy, for example, seems to have more in common with the German-speaking regions of Europe than with Southern Italy; France appears more peripheral than core; and the former eastern Germany still has not caught up with the west (so much for fiscal integration). Eastern Europe also has some striking differences as we suspect the ovals are slowly collapsing in on themselves as the reality of lower revenues from more unemployed procyclically pulls the euro-zone into depression.



Via Flute Thoughts: The European Unemployment Map

Yesterday I compared Italy and Spain, and noted that when it comes to unemployment the worst regions in Italy have roughly the same unemployment rate as the best regions in Spain. This led me on to making this map (using data from Eurostat) to show unemployment rates for all EU and EES regions


The map gives some hints about where there might be problems - the unemployed who have debts have more difficulties keeping up with their loan payments - the unemployed don't pay very much in taxes and thus don't contribute to the government coffers - the unemployed are rather more prone to engage in activities such as social unrest.


The biggest problem is obviously in Spain, which stands out like a sore thumb! Greece has nearly the same level of unemployment, but Spain is much larger. Add to this the fact that the Spaniards are up to their ears in debt after the popping of their monumental real estate bubble...


It's also interesting to see how unemployment often does not follow national borders. Northern Italy, for example, seems to have more in common with the German-speaking area of Europe than with southern Italy. Sometimes, however, the national borders make a big difference, e.g. between Spain and Portugal.


Also note that France look a lot more like the central part of Italy than it looks like Germany when it comes to unemployment. Bienvenue au club PIIGSF, monsieur Hollande!


The difference in Germany between former East Germany and West Germany is still clearly visible, as the east still hasn't caught up with the west.


Another striking difference is that between Czechia and Slovakia, where Czechia looks like Germany, but Slovakia (except the Brno region) has a high unemployment rate that increases towards the east.


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Tue, 08/07/2012 - 19:41 | 2686186 Anne Ominous
Anne Ominous's picture

It's a Map!


... sorry - that should have read "It's a Trap!"

Tue, 08/07/2012 - 19:51 | 2686211 IndicaTive
IndicaTive's picture

If there's a place you got to go
I'm the one you need to know
I'm the map
I'm the map
I'm the map
If there's a place you got to get
I can get you there I bet
I'm the map
I'm the map
I'm the map
I'm the map
I'm the map
I'm the map
I'm the map
I'm the map
I'm the map
I'm the map
I'm the map
I'm the map



Tue, 08/07/2012 - 20:01 | 2686238 Stackers
Stackers's picture

Spain needs to hire some accountants from the U.S. Bureau of Labor and Statistics - QUICK !!!

Tue, 08/07/2012 - 20:41 | 2686341 malikai
malikai's picture

It's cool. I'm sure the next Robespierre will be a swell guy. And the next Napolean as well.

Tue, 08/07/2012 - 20:50 | 2686361 withnmeans
withnmeans's picture

Not to mention now the Spanish health care is taking a hit "as it should, still not a bad plan". However it is an ingenious way to find out who the illegals are "then send them packing like Greece".

Also to add to the pain in Spain, they are now starting to censor their news "sound familiar".

Keep your chin up, prepare for a left hook or a right cross...

Tue, 08/07/2012 - 21:23 | 2686424 AldousHuxley
AldousHuxley's picture

how about US ste umployment by EU standards?

Tue, 08/07/2012 - 22:43 | 2686570 illyia
illyia's picture

How about a Shadow economy that circumvents the system itself... it is only natural...

Wed, 08/08/2012 - 01:34 | 2686823 OpenThePodBayDoorHAL
OpenThePodBayDoorHAL's picture

We already have a "Committee For Public Safety"...oh wait, it's called Department of Homeland Security

Tue, 08/07/2012 - 20:24 | 2686292 Dr. Engali
Dr. Engali's picture

After three children I hate that song and now thanks to you it's stuck in my head. And don't use the old...."you didn't have to read it" routine. All I did is glance and BOOM there it was.

I gave you an up arrow anyway because my kids love it :->

Tue, 08/07/2012 - 20:29 | 2686308 IndicaTive
IndicaTive's picture

Thought I would share the contagion Doc. It popped into my head immediately too.

Tue, 08/07/2012 - 20:38 | 2686329 Dr. Engali
Dr. Engali's picture

Thanks. I appreciate it. Hopefully some day I can return the favor. ;->

Wed, 08/08/2012 - 08:01 | 2687073 Grimbert
Wed, 08/08/2012 - 00:22 | 2686729 JPM Hater001
JPM Hater001's picture

"All I did is glance and BOOM there it was."

Dont you mean

Boom Boom aint it great to be crazy

Boom Boom aint it great to be crazy

Wed, 08/08/2012 - 00:27 | 2686734 Stuck on Zero
Stuck on Zero's picture

Am I wrong?  Aren't these unemployment statistics a helluva lot better than the (correct) labor statistics for the United States?


Wed, 08/08/2012 - 04:13 | 2686946 cynicalskeptic
cynicalskeptic's picture

shhhhhhhh.....    for MOPE to work it requires that nobody question the oifficial statistics.....    You CAN bring Tinkerbelle back to life if you believe!


of course if you're won of the 20%+ who's unemployed, it's damn hard to belive in anything.

Tue, 08/07/2012 - 19:42 | 2686188 The Watchman
The Watchman's picture

Ground zero in the center

Wed, 08/08/2012 - 00:30 | 2686709 Daily Bail
Daily Bail's picture

FINANCIAL FRAUD CONVICTION SCORECARD: Bush 1300+, Clinton 1000+, Obama 0.0

Obama and Eric Holder still at after 3 1/2 fucking years on the job.

Wed, 08/08/2012 - 03:00 | 2686900 old naughty
old naughty's picture

Doesn't that mean they're safe with TPTB?

Tue, 08/07/2012 - 19:43 | 2686192 magpie
magpie's picture

Everything should degrade at the same pace from now on, ne c'est pas.

Tue, 08/07/2012 - 19:44 | 2686193 iDealMeat
iDealMeat's picture

ZH, needs to just shut down for 2 weeks..  Give us a break for a while.


Same shit will be right there waiting for us..


Tue, 08/07/2012 - 19:50 | 2686210 tekhneek
tekhneek's picture

If that's A, here's B:

Don't come to ZH for 2 weeks. Come back in awhile. Same shit will be right here waiting for you.


Tue, 08/07/2012 - 19:51 | 2686213 Savyindallas
Savyindallas's picture

yeah -let's not poop out on the world's biggest Ponzi scheme -Europe's Ponzi will blow up first, then the money will keep flowing to us for a while. It may take weeks, months or even years before it all blows to hell. So let's eat, drink and be merry. The party could last for a while. We'll deal with all this negativity after the collapse.

Tue, 08/07/2012 - 19:52 | 2686214 bpj
bpj's picture

No shit, fucking sky has been falling for years according to  ZH. 

Tue, 08/07/2012 - 20:03 | 2686242 LeisureSmith
LeisureSmith's picture

No, shit has been falling from the fucking sky for years. I blame Shithawks.

Tue, 08/07/2012 - 20:24 | 2686294 Tijuana Donkey Show
Tijuana Donkey Show's picture

You get a vote for the Layhey reference. I feel the GOVT is more Ricky and Julian than anything else. Bubbles is the Federal Reserve, cat food for everyone!

Wed, 08/08/2012 - 04:19 | 2686947 cynicalskeptic
cynicalskeptic's picture

That's not shit - it's helicopter Ben's manna from heaven........


Hell, it took a decade for the housing mess to blow up - I was astounded at how long they managed to kick that can down the road... but it DID eventually fall apart.  Smoke and mirroprs - and government manipulation - can only work for so long.   Europe is the distraction - a short term play to drive people to the $US and keep THAT illusion going for a little longer.....  but eventually we're gonna hit the ground and go 'SPLAT!' too......    don't take too much comfort just because someone else fell out of the plane before you did 

Tue, 08/07/2012 - 20:28 | 2686306 poor fella
poor fella's picture

Do you choose to believe the MSM and be caught offguard?  Not saying you need a fucking bunker in the mountains, but every decision should be rooted in reality.

According to boomberg and cnbs; If only I would charge new wood floors, his'n'hers diesel Beemers, two weeks in the Bahamas, and get my ass 'off the sidelines' - ALL WOULD BE WELL!

Fuck that, the sky is falling if one chooses to look...

Tue, 08/07/2012 - 19:57 | 2686228 Meremortal
Meremortal's picture

The articles are fine, it's the comments that are repetitive. Some have to keep repeating since what they have claimed is happening NOW for the last 4 years hasn't happened. Broken clock territory is being approached. No worries, they will take full credit for their predictions if they are still around when they become true. 

In their defense, govts can delay economic eventualities much longer than one would believe possible. (See Greece and California). I starting to believe they can kick this can for years yet. In America anyway. Europe's ability to stall is impressive and a good model to watch unfold.


Tue, 08/07/2012 - 20:41 | 2686321 Dr. Engali
Dr. Engali's picture

I have been amazed at how long TPTB have been able to hold it together. It's a true testament to the power of propoganda and the ability to keep the sheep stupid. Having said that I wouldn't miss the commentaryon the Hedge. There is a lot of good infromation to be gleaned from some,and good entertainment from others.

Tue, 08/07/2012 - 23:19 | 2686623 msjimmied
msjimmied's picture

I agree, the comments always educates or cracks me up. Other sites wish they had an infestation of the kind of vermin we have. 

Tue, 08/07/2012 - 23:35 | 2686650 NuckingFuts
NuckingFuts's picture

Infestation of bitches.

Here's to us, the verminous bitches of the inter webs

Tue, 08/07/2012 - 23:30 | 2686641 lasvegaspersona
lasvegaspersona's picture

when we run out of time and 'what's going to happen' happens....we will all be glad everyone was way early in their predictions. The future will have some really rough spots and probably fatal for I am patient and wake every day, check the Drudge and the ZH and a few markets....if all is +/- 2 standard deviations I'm happy, I have another day of boring, manipulated markets normalcy....and I say...thnak you Ben..... and Mario. I know things are way fucked up and I know banks is bad but still....B and M do keep it stable...for now...and the sad thing is I think they know and I don't think every thing will be roses for them....they may be evil bankers but they have extended family, who like most of us, will have folks  turn to them for help....hang on....

Wed, 08/08/2012 - 09:21 | 2687268 e-recep
e-recep's picture

according to the kondratieff waves we have around 8 more years before things settle back to normal. in-between anything can happen, anything.

Tue, 08/07/2012 - 20:04 | 2686247 Meremortal
Meremortal's picture

Sure, right after you quit your job for two weeks, all that meat you sell is killing people!

(Channeling eco-vegans)


Tue, 08/07/2012 - 19:46 | 2686197 CrawdadMan
CrawdadMan's picture

looks like acute diarrhea.

Tue, 08/07/2012 - 19:45 | 2686198 bugs_
bugs_'s picture

lots of scary charts from Spain

are we overusing the term "scary chart"? LOL

Tue, 08/07/2012 - 20:40 | 2686337 IndicaTive
IndicaTive's picture

Count Floyd...SCTV

Wed, 08/08/2012 - 00:17 | 2686724 Bonesetter Brown
Bonesetter Brown's picture

Were you scared by those charts, kids?  I know I was -- ow oooooh!

Tue, 08/07/2012 - 21:38 | 2686455 Zero Debt
Zero Debt's picture

Once you no longer get scared by scary charts, you may be eligible for an economics PhD

Tue, 08/07/2012 - 19:48 | 2686202 DoChenRollingBearing
DoChenRollingBearing's picture

Jim Clifton (CEO of Gallup, the polling company) recently wrote a book saying that A GOOD JOB is the single biggest issue in every country they are studying (over 100 countries).  Every country.

The above map shows in what order European countries will go bankrupt.

But, German exports are now down (see Wolf's recent articles re the dangers facing Germany).

Tue, 08/07/2012 - 19:57 | 2686223 nmewn
nmewn's picture

German exports down? what we're saying here is a law banning circumcis...oh never

Tue, 08/07/2012 - 22:06 | 2686500 Umh
Umh's picture


Wed, 08/08/2012 - 05:13 | 2686969 irishlink
irishlink's picture

After reading all the comments here, I have noticed that quite a few more than usual are ready to believe that the can be kicked for a couple of years yet. Is this a contranian indicator and can we use the comments as a new model for apocalypse discovery? Tylers you must be working on a formula for this? 

Tue, 08/07/2012 - 19:57 | 2686227 LeisureSmith
LeisureSmith's picture

This is a shitstorm deposition-map, the closer you get to brown, the more shit you are in.

Tue, 08/07/2012 - 20:02 | 2686240 Meremortal
Meremortal's picture

Oh, and the north/south Italy split has been in place for centuries. And yes, France feels like a different country once you get out of the lefty cesspool Paris.

Wed, 08/08/2012 - 00:45 | 2686761 Bringin It
Bringin It's picture

In most northern Italy, ie. Bolzen/Bolzano, the people speak German and were Austrians until maps changed in 1918.

Tue, 08/07/2012 - 20:10 | 2686259 Irelevant
Irelevant's picture

Brno is in the Czech Republic not in Slovakia, so SK is virtually fucked. Ohhh...l but how could this be, Slovakia was an example, they adopted the Euro, while CZ still has the Krone.

Tue, 08/07/2012 - 21:49 | 2686468 jepicza
jepicza's picture

That's right, the Czech republic is Bohemia and Moravia, Böhmen und Möhren, and Moravia is more fucked than Bohemia, because it is closer to Slovakia, and Slovakia is closer to Ukraine and Russia. That's how it works for centuries. ;-) So, looking back, and forward, one would do well if he would live in: Nothern Italy, Switzerland, Bavaria, Western and Southern Bohemia, Sothern Moravia and Austria, without Euro and with plenty of great beer. LOL

Wed, 08/08/2012 - 03:57 | 2686938 Karl von Bahnhof
Karl von Bahnhof's picture

Czecho-moravo-slovakian team here at work? greetings bitchez!

Tue, 08/07/2012 - 20:10 | 2686262 Hobbleknee
Hobbleknee's picture

Add at least 10% to get a more realistic unemployment stats.

Tue, 08/07/2012 - 20:11 | 2686266 TheFulishBastid
TheFulishBastid's picture

Good map. Great work.

Tue, 08/07/2012 - 20:12 | 2686267 Cheshire
Cheshire's picture

Yep.....thats about all you need to see.

Tue, 08/07/2012 - 20:23 | 2686291 CunnyFunt
CunnyFunt's picture

Protestant bias?

Long Max Weber

Thu, 08/09/2012 - 15:47 | 2692017 antin
antin's picture

No Protestant bias. The lowest unemployment in central Europe are the Catholic majority countries: Bavaria, Baden-Wuerttemberg, Austria. 

Tue, 08/07/2012 - 20:26 | 2686300 THE DORK OF CORK
THE DORK OF CORK's picture

Even rich  Catalonia seems to be in trouble - its all linked - as Northern Tourists pull in their energy horns Club Med no longer is a option.

A slow motion entropy crash.

Germany is toast also - its just a matter of they are saving only metaphysical tokens and not creating enough core energy wealth to beat the loss of the stuff now inherent withen the system.

North sea oil exports were down nearly 50% between 2010 & 2011............ you just can't stop this train crash.

Tue, 08/07/2012 - 21:28 | 2686435 roadsnbridges
roadsnbridges's picture

Catalonia is not Uganda or Kalifornia, then?

Tue, 08/07/2012 - 21:58 | 2686482 THE DORK OF CORK
THE DORK OF CORK's picture

Well its got  The Black Madonna of Montserrat but I don't think that counts for much in this world.

Wed, 08/08/2012 - 09:44 | 2687326 e-recep
e-recep's picture

interestingly club med resorts are packed. anyone to explain why and how? hotel reservation stats from calculatedrisk show ample number of bookings as well. so? anyone?

Tue, 08/07/2012 - 20:28 | 2686305 youngman
youngman's picture

I am begining to wonder how we are going to get out of this.....I don´t see any big new app that is going to change the dynamic.....

Tue, 08/07/2012 - 20:33 | 2686320 canardo
canardo's picture

Didn't you hear? They just released the fix-the-world app, I hear it's great. Everybody on the planet must buy one and presto: world fixed.

Tue, 08/07/2012 - 22:36 | 2686557 Non Passaran
Non Passaran's picture

I just love that photo, Youngman

Tue, 08/07/2012 - 20:31 | 2686316 YesWeKahn
YesWeKahn's picture

Don't you love today's headline?


Asian Stocks Open Higher on Hopes For More Stimulus

Wallstreet ends the day higher on hopes for more stimulus

Europe stock market green on hopes for more stimulus

So, the assholes can't print to remove the hopium.

Tue, 08/07/2012 - 20:32 | 2686317 vinu02
vinu02's picture

Europe market is worst then US. They are in recession and still everyday its up.

Tue, 08/07/2012 - 20:35 | 2686324 canardo
canardo's picture

I just don't get it, it's up like crazy and all that on just hope for stimulus?

Tue, 08/07/2012 - 23:40 | 2686659 lasvegaspersona
lasvegaspersona's picture



we are in a fully funded depression, all will be fine until people choose to stop funny money. One day the 99th monkey will decide to stop working for whatever he has been getting paid and all the other monkeys will stop too.

There is a scene in 'The Lives of Others" all the guys in the Stazi letter opening department hear the news of the Berlin Wall coming. They all just put on their coats and walk out....It could happen that fast..

Tue, 08/07/2012 - 20:39 | 2686331 goldinpenguin
goldinpenguin's picture

these relative unemployment ratios have been in place since the industrial revolution


Germany would turn brown too if they were trying to export with a strong Mark vs the relatively weak euro

Tue, 08/07/2012 - 20:41 | 2686342 canardo
canardo's picture

So everything's ok then?

Tue, 08/07/2012 - 20:47 | 2686345 Ned Zeppelin
Ned Zeppelin's picture

 The much predicted collapse of Eurozone will not occur - in fact, it will tilt towards further unification. TPTB want this, and, therefore, I think it will happen. Massive printing, on the other hand,  as a necessary result of the latter "union" drive, will occur. So gold will be a good investment, as will any other commoditiies. Get ready.

This fits in nicely with the fact that once Europe decides to print like mad, it will be silly not to do the same here. And why not, it solves so many problems, including pesky "ponzi" math. Bernanke hearts this fact.  So des Krugman.

Interesting propaganda piece, a tell actually, on Bloomberg radio after noontime today, whereon it was "absolutely denied" by some shill they had on to the effect that the Fed's repo move today had anything to do with monetary policy. Instead, we were left with the impression that the repo machinery, like an unused piece of machinery left out in the rain to rust, will freeze up if you don't fire the darn thing up once in while.

I think most ZHers already knew it was bullshit, but I guess TPTB felt the need to trot someone out to make sure that rationale was articulated in the media, and, hopefully picked up on. The real answer is that if it were true, why wouldn't you say nothing at all?

So it is not routine, and since QE3 cannot be announced (heck look at the S&P - "I need QE!" it may be saying, but at these levels, it ain't what it's gonna get), what we're gonna get is a few repos of various sizes (ever bigger as the machinery "loosens up") and that will be the new means by which insolvency is held at bay. Converting crappy assets to cash. It may even be the "tool" of choice should we get the unforeseen implosion which seems to be lurking.

Tue, 08/07/2012 - 21:59 | 2686474 DeFeralCat
DeFeralCat's picture

Deleted the second instance of the post.

Tue, 08/07/2012 - 21:56 | 2686476 DeFeralCat
DeFeralCat's picture

Respectfully, I am not sure that I agree that the end game is a unified Europe. That would imply Germany owning all the Southern debt. With industrial production in a heads first dive, Germany would then own the debt in a contracted recession. If I was Germany, would I want that scenario? No. It is probably why they continue to keep themselves distant from the actual problem. They acutally know how bad it is.

I think your second point is very interesting. Bernake cannot afford QE3 with equities at this level and the spike up in commodities it would produce right before the election. There is no reason to do it when no one believes in it but the actual implication of hollow words works just as effectively. But they have hinted they will buy these crap mortgages and place them on their balance sheet. This will keep the banks solvent. I would imagine that we have no clue as to how much of the bad mortgages have actually been hidden away in some file cabinet at the Fed. The Europeans were no unified nor sly enough to do this.

What is probably going to unravel this will be Spain in the next few months. It will probably happen after the election. Spain will capitulate but not ask for a bailout due to the conditions. This will put Germany on the hook and they will say no. If they want to make Eurobonds then they own the debt. Again, would you do this if you were Germany? Spain and Italy are heading right over the abyss and the ability to stop it is probably already past.  

Tue, 08/07/2012 - 21:25 | 2686429 Ned Zeppelin
Ned Zeppelin's picture

Agreed, but "break up " means facing the music on the debt.  The ECB and other CBS are not interested in erasing debt.  Only collecting.

Tue, 08/07/2012 - 21:03 | 2686389 DeFeralCat
DeFeralCat's picture

I think Industrial Production charts are the most revealing at the moment. Look at an Industrial Production chart of any country in the West and it is clear where we are headed. People no longer believe that Bernake printing is equal to creating demand- if they ever did anyway.  What is going to reverse the industrial production trend down? It is global and has nasty negative slope.  They can't print fast enough to stop this decline. The question is at what point do people tie the decline to the overheated price of equities.

Tue, 08/07/2012 - 21:20 | 2686416 q99x2
q99x2's picture

And, what's that real green in the upper left? Could it be. Its not Greenland is it. No it is ... a bankster free Nation.

Wed, 08/08/2012 - 00:10 | 2686714 fattail
fattail's picture

Shhhhh....Default / Debt rejection is the deathnell for any economy.  How can a country prosper without mortgaging their descendants future.   


Tue, 08/07/2012 - 21:51 | 2686454 roadsnbridges
roadsnbridges's picture

Y'all are misreading the map.  It clearly indicates the pent up entrepreneurial spirit about to be unleashed in these regions, now that the everyday necessities are covered by .Gov.   As Queen Pelousy famously urrped, "unemployment benefits are creating jobs faster than practically any other program”

Bonus clip:

Tue, 08/07/2012 - 21:48 | 2686466 Umh
Tue, 08/07/2012 - 22:07 | 2686503 bankruptcylawyer
bankruptcylawyer's picture

also, note that the really interesting thing about these charts and statistics is that they are usually loaded with false assumptions and lies. things are usually worse than the liars tell you they are.

Tue, 08/07/2012 - 22:32 | 2686542 Johnk
Johnk's picture

If I had a nickel for every "scariest chart" headline posted here, I'd have a lot of nickels.  Throw in every BusinessInsider hyperbolic post I've seen and I'd have a lot more nickels.  Since nickels are currently worth almost a nickel, I'm not complaining (but pre-'83 copper pennies are worth 2.2 cents, probably the best investment around right now - excluding ammo, food, and depleted-uranium-shell-proof bomb shelter walls).

Wed, 08/08/2012 - 03:37 | 2686657 whirlybird rules
whirlybird rules's picture

Things are worse than these figures show!  It is difficult to find people in Italy in their early 20's who have jobs.  They have degrees that have nothing to do with their work, IF they work. The jobs are often associated with family businesses such as restaurants, retail and  hospitality.  Young aspiring Italians are leaving for Germany, England, Australia and the US. It is just like Spain!  As for the rest?  There are tens of thousands of people in the twenties who have NEVER HAD MEANINGFUL WORK.  Who would hire someone as a junior architect at 32 who has never had experience in the field?  The only thing Italy has going for it is a rich set of parent and grandparents who have profited (up until 2008) on sky-rocketing housing prices and have cashed in along the way on some of those assets.  For anyone that does not already know..   Many people in their 20's, 30's, 40's and early 50's often live in the same house or apartment building owned by their parents or grandparents.  American style consumption is still thriving among the upper middle classes but it is slowing down.  People born after 1960 are generally burning through the assets of their families. Or are living a lifestyle based on their expectations of inheritance.  

None of the above pay any significant amount of property taxes on the realestate holdings.  (I'm talking maybe 200 euros annually on a 400,000 property.)  Why you ask:  prop. taxes are extremely low on one's first home.  So, grandfather puts one property in the name of one child, another in the name of a second child, then in the names of the grandchildren, etc.  

Work force skills and experience will continue to deteriorate,  tax base will continue to deteriorate, there will be no Italians to buy these properties.  However there is a bright spot!  the Russian plutocracy have hoards of cash to burn along the southern Italian European coast and have been gobbling up properties, even small comunes all through Calabria.  

I could keep going but I have to go to work.......

Wed, 08/08/2012 - 00:26 | 2686731 Pubcoceo
Pubcoceo's picture

You should overlay that with an elevation map, maybe shit really does run down hill...?

Wed, 08/08/2012 - 01:38 | 2686827 GoldbugVariation
GoldbugVariation's picture

Romania and Bulgaria look anomalous, surprisingly green, much greener than Slovakia or Hungary.  Maybe their data are reported differently?

Wed, 08/08/2012 - 02:14 | 2686866 mito
mito's picture

The author has it wrong!

Brno is not in Slovakia, and the unemployment in Slovakia is not centralised,
thought true declining when moving to the east.
Also Czech is not Germany, they have huge problems on their own...

Also,the map layout is wrong, cannot identify either Czech nor Slovakia,
and that I tried to figure the regions not whole states.

Wed, 08/08/2012 - 11:28 | 2687761 dvfco
dvfco's picture

Point well taken, but give the guy a break.  That's one hell of a visualization, no?

That's a great chart and, alone, provides more insight into Europe's problems than the last 100,000 words I've read regarding Euro-Fail-2012.  Thank you.

Wed, 08/08/2012 - 03:15 | 2686910 the tower
the tower's picture

that map has been the same for centuries... there always were only some regions and cities/city states that were succesful..

Wed, 08/08/2012 - 05:04 | 2686965 davidgdg
davidgdg's picture

The map is a tad misleading because there are jobs and then there are "jobs". Wales and Northern Ireland are shown as a nice healthy green. But actually 60-65% of GDP in both regions is in the State sector. I'd like to see the same map but this time excluding State workers from the "employed" category. By that measure I suspect most of the periphery of the UK would look like Spain.

Wed, 08/08/2012 - 07:17 | 2687028 tocointhephrase
tocointhephrase's picture

Two of those circles cross right over London.....FUCK!

Wed, 08/08/2012 - 11:31 | 2687780 dvfco
dvfco's picture

They are ovals as they have dual foci.  (Sorry, I'm just messing around - couldn' resist.)

Wed, 08/08/2012 - 12:28 | 2687979 iProtocol
iProtocol's picture

To be honest it's not as bas as the figures make it. Countries such as Spain have huge amounts of people working without paying taxes, which in itself is bad, but as I said make unemployment appear higher than what it really is.



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