This page has been archived and commenting is disabled.
This Is Europe's Scariest Chart
Surging Greek and Portuguese bond yields? Plunging Italian bank stocks? The projected GDP of the Eurozone? In the grand scheme of things, while certainly disturbing, none of these data points actually tell us much about the secular shift within European society, and certainly are nothing that couldn't be fixed if the ECB were to gamble with hyperinflation and print an inordinate amount of fiat units diluting the capital base even further. No: the one chart that truly captures the latent fear behind the scenes in Europe is that showing youth unemployment in the continent's troubled countries (and frankly everywhere else). Because the last thing Europe needs is a discontented, disenfranchised, and devoid of hope youth roving the streets with nothing to do, easily susceptible to extremist and xenophobic tendencies: after all, it must be "someone's" fault that there are no job opportunities for anyone. Below we present the youth (16-24) unemployment in three select European countries (and the general Eurozone as a reference point). Some may be surprised to learn that while Portugal, and Greece, are quite bad, at 30.7% and 46.6% respectively, it is Spain where the youth unemployment pain is most acute: at 51.4%, more than half of the youth eligible for work does not have a job! Because the real question is if there is no hope for tomorrow, what is the opportunity cost of doing something stupid and quite irrational today?
»
- 56141 reads
- Printer-friendly version
- Send to friend
- advertisements -
Is the reference point (green line) for Euro Zone (as labelled on graph) or for "America" (as in the text)?
I thought printing money can solve everything. These youngsters should carry papers or inks for Bernanke for 1c or 2.
Once the Pan-Euro wars start, they'll all be employed. Hitler, now that guy KNEW how to create jobs!
Really ? Most of the job creation schemes that you associate with Hitler were initiated BEFORE he came to power by the Schleicher Government - Hitler just happened to be in office when they came on-stream.
+1T - Sandmann, I did not know that I felt lonely here until you came back...
If you subscribe to the premise that Hitler caused WWII, then it follows logically that he created many, many jobs.
Problem is not youth unemployement, its the formula used to calculate it. They need to check with the US's Dept of Labor & Statistics b/c with a few minor tweaks to the formulas we can easily get this under 10%.
I propose the EU starts removing overweight ppl from its labor calculations - it'll totally smooth these numbers over.
Europeans live with their parents until they marry though, so this really isn't a big deal.
Generally not true. In some european countries it's the modus operandi but at least in northern Europe not so much.
It's tradition.
I thought gold was tradition, Beard Monkey himself told so. ;-)
http://www.youtube.com/watch?v=2NJnL10vZ1Y
Is it tradition? Have you even been to europe?
Yes. What's your point.
I think his point is that you are talking bollocks. Most of the time you are an intelligent person with great comments but from time to time you come up with stupid things like this.
I've been to the US therefore I know everything about your country. Difference is is that I am being sarcastic.
hey, what a day, I agree with both of you - it's a southern phenomenon. ;-)
In the UK you leave school at 16,get pregnant and receive a 'free' council house.The more baby's you have the more money you receive.
Same with Ireland, because God won't let you use a condom.
Every sperm is sacred...
Isn't this discriminatory against unemployed young males per UN Statement of Human Rights? LBJ gave us this too which decimated the traditional black family structure...and to lesser extent, the caucasian family units. "don't take your guns to town, Son, leave your guns at home." Mommy, what's a "daddy".
HEY lets send ObaMao to Europe! All these ads say he's created 3.5 million jobs! Sure, the jobs are in India and China, but whatever!
Really, SheepDog One, merely criticizing Obama becomes tedious after a while. Everyone knows your opinion, and really, he's just there to draw your attention away from the unelected and untouchable men behind the curtain, who are really running the show. You probably ought to cut back on the time you permit yourself to watch Fox, or read a little Huffington Post every day to get some balance, as you don't strike me as someone who would willingly allow himself to be used as a catspaw. Obama is just the help, and has to do as he is told, like the rest of us.
Balance at PuffHo! Bwuhaahaa, thanks for the belly-buster!
Huffpo balances Fox and the ubber right wing screamers rather well. Dabble a bit. Dip your tootsies. No need to dive into the deep end and drown.
Logically they should all be drafted and expand the military and periods of service. \\\\\There is no other way to keep them occupied and living away from home. If you have high youth unemployment and poor demographics you are doubly failing. Spain has many North Africans working to make Spain cost competitive with citrus growers in North Africa. The simple fact is that without high public spending on public sector jobs many EU countries (including Britain) would have horrendous unemployment statistics. There is simply no role for China if you want fuller employment in Europe which is exactly what Sir James Goldsmith said in his book "the Trap" in 1978
That should be good for social stability.
Presaging, perhaps, an eventual ( and inevitable ) European Spring.
We have been hearing for years that Europe is a demographic catastrophe in progress.
Yet there seem to be hardly any employment opportunities for the relatively small number of young people there.
Could it be that the economic situation in Europe is far worse than most of us dare to imagine?
Well, Europe is overdue for a major war...
have you already forgot our boys in Afghanistan (and just a few weeks ago the flights over Libya?) No, thanks.
Yanks can always smell a war. Innate sixth sense if you will. However, it's more of a windsock than a crystal ball. Generally they end up being surprised that, not only are they themselves involved, but the ones who initiated it.
perhaps. it still creeps me out when keyboard warriors write in such a cavalier way of war. I've seen too much of the stuff to keep calm...
which reminds me that China has an excess of thirty millions of angry young men (without a gf, without a meaningful job, etc.)
I'm in no way in favor of a war in Europe. I was speaking in a historical and political sense. Historically, it's uncanny how high levels of economic discord coincide with conflict, with Europe being a prime example. That's all I was saying. However, how dare you suggest that China would use a huge surplus of lower-caste single men as cannon fodder! (I can play this game, too.)
I understand the few girls they've got are getting uppity and mighty selective, too.
Yep. One of China's major imports are Vietnamese girls. They will 'love you looong time!'
love that scene, too
totally off-topic, but did you know long time in asia is an actual quantitative measure?
long time == a few hours. long long time == all night. just thought you'd like to know.
Truth is you can't predict. There is life outside of bitches and meaningful work is subjective to say the least. All this 'I think-that-things-are-bad- here-and-will-explode-any-second' is only indicative of the panic and loss of meaning in the daily lives of people typing such nonsense.
As I've said these are clearly depression level employment levels. They can cook and massage the GDP numbers all they want but employment spells a very different picture. Eventually something has got to give.
The real dangerous issue here is that the status quo can lose their grip on the masses as the cognitive dissonance builds.
We are in a recovery, but nobody I know is doing better. Inflation is low, but prices keep going up. Gasoline demand drops, so prices go up.
Now is the best time to buy a house, the TV says so.
And it just keeps building!
pods
Re "something has got to give"
Exactly. And there's always the old fall-back: stick a gun in their hands......and hope they don't turn it on YOU central bankers.
I just love this quote out of Davos:
Mexico's Felipe Calderon who summarizes it best: "we have a timebomb the bomb is in Europe and we are working together to deactivate it before it explodes over all of us."
They should hired as bomb defusers then right?
Tick-Tock Bitchessssssssssz
maybe all the youth in Europe will get together and have a cocktail party
of the molotov type?
Again with they hyperbole. Almost a full 47% of youth in Spain are mostly employed.
That chart just shows how may people are available for the recovery to really kick into gear.
You forgot to turn your ~sarc~ button off.
There's an "off" option?
Well if European youth can create their own reality like amerikan youth (facebook et all), things will go on. If things get bad and the magic boxes stop anesthetizing the youth, then things will get ugly.
pods
Zero
Transitory Bitchez
Is that like a Russian prostitute?
To bring competivity back to Europe the Euro must devalue and the south must reappraise its presence in Euro mix; via two tier or new local rates to Euro. A quick in out, but is this feasible to re-equilibrate the North South salary/productivity performance ratio? Not easy at 27...We are talking about PIG ejection, and devaluation before re-adhesion and in the meantime all nation states slim and renegotiate debts. And if the banks fail too bad. Its a long haul to revive the Euro zone, like the US zone, like the Japan zone, like UK all indebted. Decouple and reset. Will the West survive such medicine? I hope so.
Only one way to solve it. Shock Therapy which it has destroyed Russia completely imposed by the IMF. Maybe IMF and World Bank should go too. They are the centrepieces of mass destructions.
So much future for the IPHONE, IPOD, XBOX generation these days.Good Lucck
I would like to see a chart from that covers the same zone from 1929-1939.
High young male unemployment generally correlates nicely with social upheaval and/or War.
Unfortunately we do not have it broken down by age group, but even the broader one speaks volumes:
Source: Dylan Grice
"Springtime for Hitler again".....Mel Brooks
Wow, fascist dictatorial regimes really work at using resources effectively. Not so for banker lead oligarchy's. But Hitler believed he was on a mission to protect the rest of Europe from the Russian Communists... and that anything he did to achieve that goal served the greater good.
He was disappointed that the German people were not "worthy" of his vision. How is that for irony, eh?
Tyler, I can't get enough from you! Though the 1945 transition period is even more interesting.
the sad truth is that unemployment government subsidies make the numbers less politically "difficult".
Thank you.
Highest unemployment in Germany correlates perfectly with the Nazis becoming the defacto govering party in the Weimer Republic.
The Nazis were brazen and ruthless opportunists, but can hardly be held responsible for the 1932 unemployment situation in Germany (if that's what you were implying).
I believe the implication is that high unemployment ushered in the nazi party, and the fact that unemployment plunged to 0% under Hitler, cemented his grip on a public that had enough of 30% unemployment.
History Rhymes.
Pretty sure that is the first time I have ever seen Tyler use the word "I" in a post.
They are Legion. They are mighty.
That was exactly the implication.
I disagree slightly. Usually, first you have a rise of socialism/communism, then fascism as a reaction to it.
Yes, that is my understanding as well.
Some would claim that while a minority party the Nazis intentionally undermined the Brüning and Von Papen governments to improve their own prospects. The fact is that the Nazis received fewer votes in the November 1932 election than they had in the prior one.
Hitler's appointment as Chancellor in January 1933 (and thus eventual Nazi rule) was more of an "accident" and the result of the political miscalculations of others than most people realize.
He maybe clownish at times....but Glenn Beck has been warning of the exact same thing 18 months.
Glenn listens to his good socio-economic advisors.
lizzy, correlation is not causation. there was also some slight international tension, the Polish War, the road from Versaille to Rapallo, the hyperinflation, the communist threat... Weimar is quite a special nexus in history, it's difficult to extrapolate from there
if you really would like to study it, then I'd like to point you to the rise of fascism in Italy, Spain, Portugal and Greece.
Hitler and fascism as the specific against communism! That makes the cure as bad as the disease.
A bit as US citizenism to promote and secure truth, freedom and justice...
Welcome back AnAnonymous, did you enjoy Chinese New Year holiday?
Sorry the train rides weren't more conducive to work on tweaking your 'US Citizenism' schtick.
does fighting in a war count as being employed? I would like to see the graph until 1945.
I would like to see unemployment defined and measured the way it was in 1929-1939. Then we can panic for real.
I wonder how many of those youths also happen to be muslim?
Can't the youth all get jobs flying unmanned drones?
Mann Financial investigators said a $Billion "vaporized" and no arrests... Let a negro steal a candy bar and watch the pigs in riot gear drop on his black ass. Slowly its coming. knashing of teeth.
I think the real King Kong sized gorilla in the room is the complete and total skill mismatch between workers and the economy, world wide. If you know how to do certain things, you can find a job easily. But those certain things require effort to learn. It takes more than just "wanting" a decent job.
Well this is so scary Tyler...
look, The Arab Spring which started in Tunisia, started with Muhammed Bozizi' doused and ignited him self after the Police state beaten him to death and took away his veggie cart
i think unemployment was something like 25%
Egypt 30%
Yemen 32%
Libya 37%
the numbers are approx, but they were on those ranges..
So if you are telling me that the unemployment is close to 40-50% range in Europe.. i have to give the Euro guys so much respect for not starting a European Spring
But where it will get messy, is the U.S (That would be so fucking Scary)
What are the youth unemployment rate in the U.S?
Stop comparing youth unemployment to full unemployment, you are confusing yourself.
ok am confused now O_0
So full unemployment is worse?!
Will be a long hot summer in Europe, especially if oil spikes and crops fail which given the ridiculous warm winter here on the East Coast, I wouldn't be surprised at. OWS, German's firebombing rich cars, all data points that only Google and the NSA is able to plot to see the pattern..
+1. though high youth unemployment correlated with a bucnh of other catalyst factors.
literacy divide urban youth and rural and elderly, high corruption and repression index.
Someone's fault indeed.
This chart shows kids that are 16 to 24 years old, shouldn't they be in school instead of working anyways?
some of the kids will only finish high school, some kids finish at the age of 16,17,18! and they say we can not afford college, so let me work in the tourism, cars, service, waiter , blacksmith, wood workers, blue collar mainly
I don't get using 16yrs old versus 18yrs old as the starting point. What does the USA use? 16 or 18?
Cathy Lee Gifford uses 10 year olds.
I just wonder how much of this is under reported employment in order to evade taxes. 50% seems pretty hard to believe.
http://macronomy.blogspot.com/2011/01/acceleration-in-deterioration-of.html
"The impact of youth unemployment and the jobless recovery." January 2011...
"The issue is clear, youth unemployment is very high in peripheral countries in Europe. The danger being, the higher the rate of unemployment, the higher the risk for social unrest linked to the deterioration of Sovereign Credit, the slower the economic growth."
US True unemployment is 51%, how about that
Black Market...
I can tell you one thing....the boomers running the office dont give a fying f**k about gen x y or z. I learnt that when New Zealand went bankrupt in 1983 and the 'reforms' started.
Selling off state assets, student loans, 'user payes' and lowering taxes.....yep 'free market capilitisim'...but only for them.......till they started getting old, then socialism was suddenly 'convenient' again.
http://www.youtube.com/watch?v=7rZbvi6Tj6E
nice track man!
+1
"Close to a deal..." I heard.
The U.S. should offer to take all these kids. Immigration is good, huh? We can use them for cannon fodder in the next trumped up war in the Middle East.
http://www.heraldsun.com.au/business/big-banks-on-notice-over-downgrade/...
AUSTRALIA'S major banks have been placed on "negative" ratings watch amid renewed concerns about their reliance on global funding markets.
Most excellent link. Wall Street Banking Cartel can can suck anybody in.
Did you guys miss the part about how through no fault of your own you are going to get screwed?
Interest rates are going up in Australia in 3-2-1...........
"We need to give power back to the people by allowing the government to distribute resources as they see fit."
Wow, what a sentence.
Now that is scary....
As they see fit....
- Bribes
- Their friends corporations with no bids contracts
- Their own bank account
Seriously, is one ZHers advocating a fascist government?
30.7% for Greece and 46.6% for Portugal or the other way round? (according to the graph it's the opposite)
Scarier still is an Apple chart if you shorted it.... Booo!!!!
I just came back from a ten day trip to the central region, Castille, just outside of Madrid. People around Europe, even more so overseas, haven´t got a fucking clue how bad it is in Spain. In 1,5 million households no one works. 1,5 million Spaniards have no official income. And on top, the chart we just saw...
Things are going to get very, very ugly.
Europe's problem isn't universal heath care, quality education or a welcoming attitude towards attractive people being naked on prime time television or in the morning newspaper.
Europe's problem is a 30 hour work week with a long wine filled lunch, a couple months of paid vacation and retirement at 50 something.
The problem is that the first paragraph is somewhat true while the second is fruit of your anti-European imagination.
Far from it. I submit my love of German gummi bears as undeniable proof that I have no bias what-so-ever. Much of EU is hard working and innovative...unfortunately, the EU's future completely depends on those hard working (The Germans, British, French and Swiss) to now support the corrupt or dysfunctional PIIGS. Retirement in Germany is 65 (and may go to 67). Retirement in Greece is 55...
Still somehow USA makes mostly crappy products with overworked workers when compared to Germany. Americans are too scared to skip work even if they are about to drop dead due some serious sickness. You are now the rigid class society your European ancestors escaped from while pretending to still believe the myth about being the land of the free, full of opportunities and home of the brave.
Yes, but we have the Kardashians and Jersey Shore.
America figured out they could replace real wages with access to credit and the wheels kept turning. Essential services like health care and education skyrocked over time and left America where it is now. Broken, broke and fearful.
This has created a huge underclass that must be destitute (and stay that way) to get a hand out, the working poor that get no help and no relief, the middle class that pays for the destitute and the ultra rich and the 1% that think the OWS are just lazy.
If America somehow manages to remove the influence money has in elections and provides a real bedrock of affordable health care and education - America will thrive. It is a very big if.
tim73, I was just wondering, how far up your ass is your head? I mean are your shoulders up there too? Just asking for all the Americans who are on the site. By the way nice economy you have going in Euro land. Can you say "Depression"?
Gold price in the year 2091 will be $147,780 USD per oz based on it's current price trajectory from 1933 when the US government defaulted. Disclaimer...This price not accurate if the US government defaults again in during this time frame...which it likely will. In that case an oz of gold will cost INFINITY in current USD.
This should help the situation:
Spanish Airline Collapses
http://www.bbc.co.uk/news/business-16787761
I saw that, I like the government response to this bankrupt airline that can't afford to pay it's people or put gas in the planes - "resume flying or we will fine you a huge amount". I think I see the problem, governments don't know what the word "broke" or "bankrupt" means.
+1. it's the state's 4th largest. I love catalunia, but let this flying bull die.
perfect ingredient for revolution or chaos in the street of europe. In fact we can expect this from the "Occupy" movement here over the summer as we slide into elections....
Yes, we can!
Exponential awakening! I'm beginning to see it everywhere, but will it be enough? Let's HOPE we see LESS DENIAL, and MORE ANGER once winter subsides as the 2nd stage of grief overtakes the world stage. The infinite growth LIE is coming home to roost. We need to cull the beast before it culls us.
Who said socialism does not work...never said truer words.
Very relevant charts, indeed. However, the even more relevant and important charts are the percentage of the population who are fully employed (35+ hours per week). Those charts are falling everywhere in the western world as far as I can tell, and quite possibly in almost every other country on earth too.
This is what happens when the predators-that-be create divisions via welfare programs (pay for no work), bailout the predator gangster/bankster class, and protect the gangster/bankster class from criminal prosecution.
One of TOP-10 Christmas gifts in USA last year were HANDGUNS! There are at least 200 million handguns in the US and still, some Americans here are worrying about EUROPEANS starting a war?! What the fuck are you smoking there or does the HOMELAND Security or 26 other SECURITY government institutions put something into tap water?
why don't you come over here and let that shit run out of your mouth? Bust a cap in yo ass. That's why. But don't worry Timmy. You'll have a 3rd round of industrialized killing soon, and when one of your members fucks up and involves America, we'll choose sides, come over there and beat the living piss out of someone, just like we did before.
Twice.
And we'll strengthen your gene pool on R and R behind the lines. Just like we did before.
Twice.
Tim73 I would call you a retard but that would be an insult to all retards. We should of stayed in 1945 and ruled you inbred assholes...
oh, ..... what an awful looking chart ! even i understood, as soon as i saw it i gasped ! that line for SPAIN looks like it's going straight up ! oh, dear, this is so awful for those people. when will these government / criminals be prosecuted & the book thrown at them . Is there no hope left ? i'm so sad thinking about the young people jobless & the elderly with reduced pensions & difficulty feeding themselves. (heartfelt, don't junk me, plz )
No junk from me. I look around from time to time and think the same things about the less fortunate. Not all are old enough, equipped or otherwise fortunate enough to see and understand what is coming. I worry for my children as well. My goal would be to give them the strength, courage and critical thinking skills to be leaders in the generation that rebuilds after the mess that is to come. Of course this means going against the grain in many ways - which can be a real bitch.
looking at the debt exposure to greece for jpm:
4.5 billion
2.1 billion in cds
if forced to take 80% haircut and cds does not trigger doesnt jpm stand to lose something close to its current debt exposure without cds
4.5 * 80% = 3.6 billion
2.1 cds * 80% = 1.68 billion
total 4.28 billion
unless it doesnt work this way why in the hell would the psi take the haircut not to mention the major fucking the ecb is doing by not having to take the haircut
Another chart which indicates the shift of wealth, power and influence to the East. The West imports junk at low cost which its labour cannot produce (at said cost). You end up with unemployed "youths" and junk produced by Chinese labour at knock-down prices. And how does anyone buy this stuff? CREDIT! Problem solved.
Isn't Spain Obozo's model for a "green economy". Liberaltards must be proud.
Makes sense, especially since China is the GOP's idea of a "green economy". Still think there is a difference between the two parties? Time to put the bottle down dude.
Tyler, I'm not sure if I'm the first to point this out, but the text and chart legends for Greece and Portugal don't match. Is 30.7% the number for Greece, as the text indicates. or is it over 40% as the chart indicates (my display has Greece in gold)? Either way, I'm in complete agreement that this will prove to be the most impactful manifestation of Europe's turmoil.
I had a dream where I was outside on a bright but not a sunny day and when I looked to the sky I saw multiple planetsized mandelbrot fractals floating through space. Some were smaller and some larger, but all still so big that you could understand that they were moving towards the earth in the solar system and you could see them from the earth. A little girl was scared and asked me what they were and in the dream I didn't know. I responded to her - "black holes".
Am I on to something?
Electronic Arts is developing a new game "Battle Field America 2012"
Alex Jones & Gerald Celente confirming this very ZH post
http://www.youtube.com/watch?v=BkEndyrEStk&feature=related
"From April to July 2011, the number of employed youth 16 to 24 years old rose by 1.7 million to 18.6 million, the U.S. Bureau of Labor Statistics reported today. This year, the share of young people who were employed in July was 48.8 percent, the lowest July rate on record for the series, which began in 1948."
The difference is that in the US you drop down hard to mere food stamps and charity institutions pretty quickly while in the EU the welfare system is more lenient. Most young people in the western Europe will get about 700-1000 euros total per month. Not much but livable income.
Trickle down economics is about to run into street economics.... Poor people rob and steal and who can blame them
My cousin was in Europe last summer...got mugged three times...twice in Italy by MENA people and once in Spain.....used to be safe over there but now...i'm not so sure wiht so many refugees, unemployed, dissatisfied, etc....
Global unrest and inequality will make travelling alot more dangerous.
Is the chart as scary for 22-28 year olds? If you are a university student in Europe and do not have a job, it is not catastrophic . School costs are low in Europe.
same here in the US, go to your local DSS office it's overwhelmingly under 25 applying for snap and emergency assistance. once that funding runs dry we are all in deep shit, the streets light up and the PTB's will crack down, hard. you won't be able to walk outside with a drone over your head and Mr. "Papers Please" at the checkpoint. it's already started, over this summer, remember all the stories about roving bands of youths? If I remember correctly the mayor of Philly had to declare a curfew at one point it got so bad. now we have the OWS crowd getting scooped up by the hundreds as soon as somebody in upper management gets even a little unsettled by all those serfs gathering in one place.
funny thing is, the MSM devotes print to all those crazy civilian preppers turning their home into 2012 survival camps all the while conveniently ignoring the biggest prepper of them all, our very own federal government.
the writing is there folks, right on the wall, just not everybody is willing to read it.
Go long gasoline and glass bottles. Could soon apply to the US. The US has it better, go long guns and ammo.
Why is this scary? People need income not employment. People like being useful and respected but not as wage slaves. This is a good sign. World of insane economic theory we are living in might even change to reflect reality and make us civilized.
http://newsbusters.org/blogs/noel-sheppard/2012/01/29/flashbook-2007-nbcs-brian-williams-wags-finger-president-bush
A few words on top wouldnt hurt
Bullish for riots.
Check those chix!
We men must chop our dicks
http://www.facebook.com/photo.php?fbid=226107460812008&set=a.16110484064...
Video of the same naked 3 Russian girls, yelling and climbing a security fence at Davos.
http://youtu.be/3P8wNutKNxg
FEMA is mostly ukrainian, I believe. though how that sort of reaction is supposed to be
a dis-incentive is beyond me. If I was at Davos I'd be tempted to become naughtier.
a majority of these spanish "youts" who are counted as unemployed were never employed from the outset... spain, like italy, is a family oriented country where many adult children stay at home and live off their parents.... its the govt manipulating numbers to keep the ecb money flowing and to jockey for a debt reduction..........
Obviously Spain got a whole lot more "family oriented" after 2008.
absolutely right. and young women weren't expected to have meaningful careers either,
but these traditionalist roles are how the boomer elders control the family chequebook.
working youth means growth and innovation. the latin countries are in the misdt of
their own quiet revolution, and the rock-throwing in greece reflects this shift in the
change in economic importance of demographics. a turnover is needed, middle-aged
bureaucrats need to be put on early retirement, the cost of pensions needs to be
trimmed and that money put to better use as investment empowering young and
dynamic business. then the young will take care of their parents or at least pay for
nursing homes (even more jobs).
http://epp.eurostat.ec.europa.eu/statistics_explained/index.php?title=Fi...
And here I thought I would never be able to afford to be a sugar daddy.